Ero Copper (TSE:ERO) Issues Earnings Results

Ero Copper (TSE:ERO) issued its earnings results on Monday. The company reported C$1.74 earnings per share (EPS) for the quarter, FiscalAI reports. Ero Copper had a net margin of 29.72% and a return on equity of 30.09%. The company had revenue of C$495.47 million for the quarter.

Ero Copper Stock Up 4.5%

ERO stock opened at C$42.59 on Wednesday. The company has a debt-to-equity ratio of 47.25, a current ratio of 1.37 and a quick ratio of 1.43. The firm’s fifty day simple moving average is C$49.29 and its 200-day simple moving average is 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 market capitalization of C$4.44 billion, a P/E ratio of 14.44, a price-to-earnings-growth ratio of -0.72 and a beta of 1.58.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ERO. Bank of America raised Ero Copper from a “neutral” rating to a “buy” rating and increased their target price for the company from C$41.00 to C$49.00 in a research report on Thursday, July 16th. Canadian Imperial Bank of Commerce boosted their price target on Ero Copper from C$52.00 to C$56.00 in a research report on Wednesday, September 23rd. Raymond James Financial reduced their price objective on shares of Ero Copper from C$55.00 to C$54.00 and set an “outperform” rating for the company in a research note on Tuesday. Stifel Nicolaus boosted their price objective on shares of 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. Finally, Royal Bank Of Canada increased their target price on shares of Ero Copper from C$52.00 to C$53.00 in a research report on Tuesday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$49.27.

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.