Ero Copper (TSE:ERO) PT Raised to C$37.00 at Scotiabank

Ero Copper (TSE:ERO) had its target price hoisted by Scotiabank from C$36.00 to C$37.00 in a research note issued on Thursday, BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Scotiabank’s price target would suggest a potential upside of 26.58% from the company’s current price.

A number of other equities research analysts also recently weighed in on ERO. TD Securities reduced their price target on shares of Ero Copper from C$31.00 to C$30.00 and set a “hold” rating on the stock in a research note on Tuesday, August 6th. Ventum Cap Mkts raised shares of Ero Copper from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 22nd. National Bankshares increased their price target on Ero Copper from C$32.50 to C$33.00 and gave the company a “sector perform” rating in a research note on Monday, July 15th. Jefferies Financial Group boosted their price objective on Ero Copper from C$29.00 to C$32.00 in a research report on Friday, July 12th. Finally, CIBC upgraded Ero Copper from a “neutral” rating to an “outperform” rating and increased their target price for the company from C$32.00 to C$36.00 in a research report on Thursday, June 20th. Six analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$33.92.

Ero Copper Price Performance

ERO traded down C$0.90 during trading on Thursday, hitting C$29.23. 168,180 shares of the stock traded hands, compared to its average volume of 296,773. The business has a 50 day moving average price of C$27.46 and a 200 day moving average price of C$28.08. The company has a debt-to-equity ratio of 82.63, a current ratio of 0.68 and a quick ratio of 1.43. Ero Copper has a twelve month low of C$15.72 and a twelve month high of C$32.89. The company has a market cap of C$3.02 billion, a price-to-earnings ratio of -112.42, a PEG ratio of -0.72 and a beta of 1.98.

Ero Copper (TSE:ERO) last posted its quarterly earnings results on Thursday, August 1st. The company reported C$0.25 EPS for the quarter, topping analysts’ consensus estimates of C$0.23 by C$0.02. The company had revenue of C$160.22 million during the quarter, compared to analysts’ expectations of C$154.50 million. Ero Copper had a negative return on equity of 3.08% and a negative net margin of 4.79%. Equities research analysts forecast that Ero Copper will post 4.742681 earnings per share for the current fiscal year.

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.