Ero Copper (TSE:ERO) Stock Rating Upgraded by CIBC

Ero Copper (TSE:ERO) was upgraded by equities researchers at CIBC from a “neutral” rating to an “outperform” rating in a research note issued to investors on Thursday, BayStreet.CA reports. The brokerage currently has a C$36.00 price objective on the stock, up from their prior price objective of C$32.00. CIBC’s price objective indicates a potential upside of 27.93% from the company’s current price.

A number of other equities research analysts have also recently issued reports on ERO. Eight Capital increased their target price on shares of Ero Copper from C$23.50 to C$30.00 and gave the stock a “neutral” rating in a research report on Monday, April 22nd. Ventum Cap Mkts cut shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 28th. Cormark increased their price objective on shares of Ero Copper from C$30.00 to C$32.50 in a report on Friday, May 10th. Canaccord Genuity Group increased their price objective on shares of Ero Copper from C$34.00 to C$36.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Finally, Ventum Financial lowered shares of Ero Copper from a “buy” rating to a “neutral” rating and increased their price objective for the stock from C$31.50 to C$33.00 in a report on Tuesday, May 28th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of C$31.85.

Ero Copper Trading Down 2.3 %

Shares of ERO stock opened at C$28.14 on Thursday. Ero Copper has a 52-week low of C$15.72 and a 52-week high of C$32.89. The stock has a market cap of C$2.90 billion, a price-to-earnings ratio of 31.62, a P/E/G ratio of -0.72 and a beta of 2.12. The company has a debt-to-equity ratio of 62.41, a quick ratio of 1.43 and a current ratio of 0.82. The firm has a fifty day moving average of C$28.74 and a 200-day moving average of C$24.68.

Ero Copper (TSE:ERO) last announced its quarterly earnings data on Tuesday, May 7th. The company reported C$0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.07 by C$0.15. The company had revenue of C$142.63 million during the quarter, compared to analysts’ expectations of C$141.98 million. Ero Copper had a net margin of 14.23% and a return on equity of 9.21%. On average, equities research analysts forecast that Ero Copper will post 2.2548878 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Lyle Braaten sold 10,000 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of C$28.11, for a total value of C$281,053.00. In the last quarter, insiders have sold 16,208 shares of company stock valued at $464,151. 10.93% of the stock is currently owned by insiders.

About Ero Copper

Ero Copper Corp. engages in the exploration, development, and production of mining projects in Brazil. The company is involved in the production and sale of copper concentrate from the Caraíba operations located in the Curaçá Valley, northeastern Bahia state, Brazil, as well as gold and silver by-products.