Ero Copper (TSE:ERO) Rating Increased to Outperform at BMO Capital Markets

Ero Copper (TSE:ERO) was upgraded by investment analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a report released on Wednesday, MarketBeat reports. The firm currently has a C$41.00 price objective on the stock, up from their prior price objective of C$37.00. BMO Capital Markets’ price target would suggest a potential upside of 37.54% from the company’s current price.

Several other research analysts have also recently issued reports on ERO. Raymond James increased their price target on shares of Ero Copper from C$30.00 to C$34.00 in a report on Thursday, May 23rd. Canaccord Genuity Group lifted their target price on shares of Ero Copper from C$34.00 to C$36.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Cormark lifted their price target on shares of Ero Copper from C$30.00 to C$32.50 in a report on Friday, May 10th. Ventum Cap Mkts lowered shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 28th. Finally, Jefferies Financial Group reduced their target price on shares of Ero Copper from C$30.00 to C$29.00 in a report on Thursday, June 6th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of C$32.15.

Ero Copper Stock Performance

Shares of ERO stock opened at C$29.81 on Wednesday. Ero Copper has a 12 month low of C$15.72 and a 12 month high of C$32.89. The company has a market cap of C$3.07 billion, a P/E ratio of 33.49, a PEG ratio of -0.72 and a beta of 2.12. The company has a current ratio of 0.82, a quick ratio of 1.43 and a debt-to-equity ratio of 62.41. The firm has a fifty day moving average price of C$28.87 and a 200 day moving average price of C$25.02.

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

Insider Activity at Ero Copper

In related news, Director Lyle Braaten sold 1,208 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of C$29.69, for a total transaction of C$35,865.52. Insiders sold a total of 16,208 shares of company stock valued at $464,151 in the last quarter. Insiders own 10.93% of the company’s stock.

Ero Copper Company Profile

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.