Ero Copper (TSE:ERO) Price Target Raised to C$45.00

Ero Copper (TSE:ERO) had its price objective lifted by research analysts at TD from C$44.00 to C$45.00 in a report issued on Friday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. TD’s target price suggests a potential downside of 3.25% from the company’s current price.

ERO has been the topic of a number of other research reports. Jefferies Financial Group reduced their target price on Ero Copper from C$42.00 to C$39.00 in a report on Monday, July 13th. BMO Capital Markets lifted their price target on Ero Copper from C$42.00 to C$48.00 in a research report on Wednesday, April 22nd. Stifel Nicolaus upped their price target on Ero Copper from C$52.00 to C$53.00 and gave the stock a “hold” rating in a research note on Tuesday, July 21st. Bank of America upgraded Ero Copper from a “neutral” rating to a “buy” rating and increased their price objective for the stock from C$41.00 to C$49.00 in a report on Thursday, July 16th. Finally, Scotiabank raised their price objective on Ero Copper from C$50.00 to C$55.00 and gave the company a “sector outperform” rating in a research report on Monday, June 15th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$47.63.

Ero Copper Trading Up 6.6%

Shares of TSE:ERO traded up C$2.89 on Friday, hitting C$46.51. The company had a trading volume of 374,137 shares, compared to its average volume of 501,618. The firm’s 50-day simple moving average is C$38.48 and its two-hundred day simple moving average is C$39.62. Ero Copper has a 1 year low of C$18.57 and a 1 year high of C$53.69. The company has a quick ratio of 1.43, a current ratio of 1.30 and a debt-to-equity ratio of 54.96. The firm has a market capitalization of C$4.85 billion, a price-to-earnings ratio of 16.61, a P/E/G ratio of -0.72 and a beta of 1.75.

Ero Copper (TSE:ERO) last announced its earnings results on Wednesday, August 5th. The company reported C$1.18 earnings per share for the quarter. 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. Equities analysts anticipate that Ero Copper will post 4.7442244 earnings per share for the current fiscal year.

Insider Activity at Ero Copper

In other news, Director Lyle Braaten sold 10,000 shares of the business’s stock in a transaction that occurred 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 sale, the director directly owned 200,000 shares of the company’s stock, valued at C$8,360,000. The trade was a 4.76% decrease in their position. 10.37% of the stock is currently owned by corporate insiders.

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.