Ero Copper (TSE:ERO) Price Target Raised to C$56.00

Ero Copper (TSE:ERO) had its target price lifted by Canadian Imperial Bank of Commerce from C$52.00 to C$56.00 in a research report released on Wednesday morning,BayStreet reports.

A number of other research analysts have also recently weighed in on ERO. Freedom Broker cut Ero Copper from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 3rd. Bank of America raised shares of Ero Copper from a “neutral” rating to a “buy” rating and increased their target price for the stock from C$41.00 to C$49.00 in a report on Thursday, July 16th. Jefferies Financial Group decreased their target price on shares of Ero Copper from C$42.00 to C$39.00 in a research note on Monday, July 13th. Scotiabank lifted their price target on shares of Ero Copper from C$50.00 to C$55.00 and gave the company a “sector outperform” rating in a report on Monday, June 15th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a C$52.00 price target on shares of Ero Copper in a research report on Monday, September 21st. The rating follows a visit to ERO Copper’s operations after the company’s investor day. Matthew Murphy noted progress across the company’s assets. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, Ero Copper currently has an average rating of “Moderate Buy” and a consensus price target of C$48.33.

Ero Copper Price Performance

Shares of Ero Copper stock opened at C$53.48 on Wednesday. Ero Copper has a one year low of C$25.12 and a one year high of C$56.62. The stock’s fifty day moving average is C$46.65 and its 200 day moving average is C$41.16. The stock has a market cap of C$5.58 billion, a P/E ratio of 18.13, a P/E/G ratio of -0.72 and a beta of 1.87. The company has a debt-to-equity ratio of 47.25, a quick ratio of 1.43 and a current ratio of 1.37.

Ero Copper (TSE:ERO) last released its 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 company had revenue of C$403.95 million for the quarter. Sell-side analysts anticipate that Ero Copper will post 4.7442244 earnings per share for the current 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.