Ero Copper (TSE:ERO) Given New C$52.00 Price Target at CIBC

Ero Copper (TSE:ERO) had its price objective boosted by CIBC from C$42.00 to C$52.00 in a note issued to investors on Wednesday,BayStreet.CA reports. CIBC’s price objective suggests a potential upside of 7.88% from the company’s current price.

ERO has been the topic of a number of other reports. Canaccord Genuity Group upgraded Ero Copper from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 14th. National Bankshares increased their price objective on Ero Copper from C$43.00 to C$56.00 in a research note on Thursday, January 29th. Scotiabank boosted their price target on shares of Ero Copper from C$36.00 to C$45.00 in a research report on Thursday, January 8th. Freedom Capital raised Ero Copper to a “strong-buy” rating in a report on Tuesday, December 30th. Finally, Desjardins raised their price target on Ero Copper from C$37.50 to C$45.00 and gave the company a “hold” rating in a report on Monday, January 26th. Three equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$41.30.

Ero Copper Stock Performance

Shares of ERO traded down C$2.13 during mid-day trading on Wednesday, hitting C$48.20. The company’s stock had a trading volume of 413,210 shares, compared to its average volume of 568,416. The stock’s 50-day moving average is C$39.50 and its two-hundred day moving average is C$30.14. The firm has a market capitalization of C$5.01 billion, a PE ratio of 36.24, a price-to-earnings-growth ratio of -0.72 and a beta of 1.99. The company has a debt-to-equity ratio of 83.17, a quick ratio of 1.43 and a current ratio of 0.68. Ero Copper has a one year low of C$13.17 and a one year high of C$53.69.

Ero Copper (TSE:ERO) last released its earnings results on Tuesday, November 4th. The company reported C$0.27 EPS for the quarter. The firm had revenue of C$246.59 million during the quarter. Ero Copper had a net margin of 3.45% and a return on equity of 2.24%. As a group, sell-side analysts anticipate that Ero Copper will post 4.7442244 EPS for the current year.

Insider Buying and Selling at Ero Copper

In other news, Director John H. Wright sold 15,000 shares of the company’s stock in a transaction on Thursday, January 29th. The shares were sold at an average price of C$52.11, for a total value of C$781,650.00. Following the sale, the director directly owned 377,832 shares of the company’s stock, valued at approximately C$19,688,825.52. This represents a 3.82% decrease in their position. Insiders own 10.37% of the company’s stock.

About Ero Copper