Ero Copper (TSE:ERO) Posts Quarterly Earnings Results

Ero Copper (TSE:ERO) posted its quarterly earnings data on Wednesday. The company reported C$1.18 earnings per share for the quarter, FiscalAI reports. Ero Copper had a net margin of 31.55% and a return on equity of 31.19%. The firm had revenue of C$403.95 million for the quarter.

Ero Copper Price Performance

ERO stock opened at C$43.62 on Friday. The stock has a market capitalization of C$4.55 billion, a price-to-earnings ratio of 15.58, a PEG ratio of -0.72 and a beta of 1.75. The firm’s 50-day moving average price is C$38.48 and its two-hundred day moving average price is C$39.62. The company has a current ratio of 1.30, a quick ratio of 1.43 and a debt-to-equity ratio of 54.96. Ero Copper has a 12-month low of C$18.53 and a 12-month high of C$53.69.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Stifel Nicolaus increased their price target on shares of Ero Copper from C$52.00 to C$53.00 and gave the company a “hold” rating in a research report on Tuesday, July 21st. The Goldman Sachs Group lowered shares of Ero Copper from a “buy” rating to a “hold” rating and set a C$31.00 price objective for the company. in a report on Monday, April 13th. Bank of America raised shares of Ero Copper from a “neutral” rating to a “buy” rating and upped their price objective for the company from C$41.00 to C$49.00 in a research note on Thursday, July 16th. BMO Capital Markets lifted their target price on shares of Ero Copper from C$42.00 to C$48.00 in a research report on Wednesday, April 22nd. Finally, Royal Bank Of Canada boosted their price target on shares of Ero Copper from C$52.00 to C$53.00 in a research note on Tuesday, July 21st. Three research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, Ero Copper presently has an average rating of “Moderate Buy” and a consensus price target of C$47.40.

Insider Buying and Selling at Ero Copper

In related news, Director Lyle Braaten sold 10,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of C$41.80, for a total value of C$418,000.00. Following the completion of the sale, the director owned 200,000 shares of the company’s stock, valued at C$8,360,000. This trade represents a 4.76% decrease in their ownership of the stock. Corporate insiders own 10.37% of the company’s stock.

About Ero Copper

Ero is a Brazil -focused, growth-oriented mining company with a diversified portfolio of copper and gold assets. Headquartered in Vancouver, B.C., the Company operates two copper mines – the Caraíba Operations in Bahia State and the Tucumã Operation in Pará State – as well as the Xavantina Operations, a producing gold mine in Mato Grosso State. In addition to its operating assets, Ero is advancing the Furnas Copper-Gold Project, located in the mineral-rich Carajás Province in Pará State, through a definitive earn-in agreement with Vale Base Metals to acquire a 60% interest in the project.