Ero Copper (TSE:ERO) Price Target Raised to C$55.00

Ero Copper (TSE:ERO) had its target price increased by ATB Cormark Capital Markets from C$50.00 to C$55.00 in a research report released on Wednesday,BayStreet reports. The firm currently has an outperform rating on the stock.

Several other research analysts have also recently issued reports on the stock. Bank of America raised shares of Ero Copper from a “neutral” rating to a “buy” rating and raised their target price for the stock from C$41.00 to C$49.00 in a report on Thursday, July 16th. Scotiabank lowered shares of Ero Copper from a “sector outperform” rating to a “sector perform” rating and set a C$55.00 price target on the stock. in a report on Tuesday. Freedom Broker lowered shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 3rd. Stifel Nicolaus increased their price target on Ero Copper from C$52.00 to C$53.00 and gave the stock a “hold” rating in a research report on Tuesday, July 21st. Finally, National Bank Financial increased their price target on Ero Copper from C$52.50 to C$55.00 and gave the stock an “outperform” rating in a research report on Monday, September 21st. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$48.67.

Ero Copper Trading Down 2.0%

TSE:ERO opened at C$48.26 on Wednesday. Ero Copper has a 52 week low of C$27.22 and a 52 week high of C$56.62. The firm has a 50 day moving average of C$50.64 and a 200 day moving average of C$42.90. The company has a quick ratio of 1.43, a current ratio of 1.37 and a debt-to-equity ratio of 47.25. The stock has a market capitalization of C$5.03 billion, a price-to-earnings ratio of 16.36, a PEG ratio of -0.72 and a beta of 1.58.

Ero Copper (TSE:ERO) last issued its quarterly earnings results on Wednesday, August 5th. The company reported C$1.18 earnings per share for the quarter. Ero Copper had a return on equity of 30.09% and a net margin of 29.72%. The business had revenue of C$403.95 million during the quarter. As a group, sell-side analysts anticipate that Ero Copper will post 4.74 earnings per share for the current fiscal year.

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.