Ero Copper (TSE:ERO) Stock Bumped Up to “Strong-Buy” by Scotiabank

Ero Copper (TSE:ERO) was upgraded by stock analysts at Scotiabank from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday, Zacks reports.

Several other research analysts also recently commented on the stock. ATB Cormark Capital Markets boosted their price objective on shares of Ero Copper from C$50.00 to C$55.00 and gave the company an “outperform” rating in a research report on Wednesday, October 14th. BMO Capital Markets reaffirmed an “outperform” rating and issued a C$52.00 target price on shares of Ero Copper in a 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. Raymond James Financial decreased their price target on Ero Copper from C$55.00 to C$54.00 and set an “outperform” rating on the stock in a research note on Tuesday. TD lifted their price target on Ero Copper from C$44.00 to C$45.00 and gave the company a “hold” rating in a research note on Friday, August 7th. Finally, Canadian Imperial Bank of Commerce boosted their price target on Ero Copper from C$52.00 to C$56.00 in a report on Wednesday, September 23rd. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$49.27.

Ero Copper Price Performance

Shares of TSE:ERO opened at C$42.59 on Tuesday. The firm has a 50 day moving average of C$49.29 and a 200-day moving average of C$42.62. Ero Copper has a 12 month low of C$27.22 and a 12 month high of C$56.62. The company has a current ratio of 1.37, a quick ratio of 1.43 and a debt-to-equity ratio of 47.25. The stock has a market capitalization of C$4.44 billion, a PE ratio of 14.44, a PEG ratio of -0.72 and a beta of 1.58.

Ero Copper (TSE:ERO) last posted its quarterly earnings results on Monday, November 2nd. The company reported C$1.74 earnings per share (EPS) for the quarter. The business had revenue of C$495.47 million for the quarter. Ero Copper had a net margin of 29.72% and a return on equity of 30.09%. On average, equities research analysts predict that Ero Copper will post 4.74 EPS 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.