Ero Copper (TSE:ERO) Price Target Cut to C$31.50

Ero Copper (TSE:ERO) had its price target decreased by research analysts at National Bankshares from C$33.00 to C$31.50 in a research report issued on Tuesday, BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. National Bankshares’ target price indicates a potential upside of 13.88% from the company’s current price.

Several other equities research analysts also recently issued reports on ERO. CIBC upgraded Ero Copper from a “neutral” rating to an “outperform” rating and increased their target price for the stock from C$32.00 to C$36.00 in a research report on Thursday, June 20th. Jefferies Financial Group increased their price objective on Ero Copper from C$32.00 to C$35.00 in a report on Friday, October 4th. Eight Capital lifted their target price on Ero Copper from C$30.00 to C$40.00 in a report on Thursday, July 11th. Scotiabank increased their price target on shares of Ero Copper from C$36.00 to C$37.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Finally, TD Securities reduced their price objective on shares of Ero Copper from C$31.00 to C$30.00 and set a “hold” rating for the company in a research note on Tuesday, August 6th. Six investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$34.04.

Ero Copper Price Performance

Ero Copper stock opened at C$27.66 on Tuesday. The business’s 50 day simple moving average is C$27.86 and its 200 day simple moving average is C$28.30. 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$2.86 billion, a price-to-earnings ratio of -106.38, a PEG ratio of -0.72 and a beta of 1.98. The company has a current ratio of 0.68, a quick ratio of 1.43 and a debt-to-equity ratio of 82.63.

Ero Copper (TSE:ERO) last issued its quarterly earnings results on Thursday, August 1st. The company reported C$0.25 EPS for the quarter, beating analysts’ consensus estimates of C$0.23 by C$0.02. Ero Copper had a negative return on equity of 3.08% and a negative net margin of 4.79%. The firm had revenue of C$160.22 million for the quarter, compared to analysts’ expectations of C$154.50 million. Sell-side analysts forecast that Ero Copper will post 4.7442244 EPS for the current 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.