Ero Copper (TSE:ERO) PT Raised to C$40.00 at Canaccord Genuity Group

Ero Copper (TSE:ERO) had its price target hoisted by equities researchers at Canaccord Genuity Group from C$39.00 to C$40.00 in a note issued to investors on Thursday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 36.85% from the stock’s previous close.

A number of other analysts have also recently weighed in on ERO. CIBC upgraded Ero Copper from a “neutral” rating to an “outperform” rating and raised their price target for the company from C$32.00 to C$36.00 in a research note on Thursday, June 20th. Scotiabank boosted their target price on Ero Copper from C$36.00 to C$37.00 and gave the stock an “outperform” rating in a research note on Thursday. Raymond James upgraded shares of Ero Copper from a “market perform” rating to an “outperform” rating and increased their price target for the company from C$34.00 to C$36.00 in a research note on Tuesday, September 3rd. 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 report on Tuesday, August 6th. Finally, Ventum Financial dropped their target price on shares of Ero Copper from C$33.00 to C$32.50 in a research report on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Ero Copper presently has an average rating of “Moderate Buy” and an average target price of C$33.92.

Ero Copper Stock Down 3.0 %

Shares of ERO stock traded down C$0.90 during trading hours on Thursday, reaching C$29.23. 168,180 shares of the stock were exchanged, compared to its average volume of 296,773. The business’s fifty day moving average is C$27.46 and its two-hundred day moving average is C$28.08. The firm has a market capitalization of C$3.02 billion, a P/E ratio of -112.42, a P/E/G ratio of -0.72 and a beta of 1.98. Ero Copper has a 12-month low of C$15.72 and a 12-month high of C$32.89. 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 (TSE:ERO) last announced its quarterly earnings data 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. The company had revenue of C$160.22 million for the quarter, compared to the consensus estimate of C$154.50 million. Ero Copper had a negative net margin of 4.79% and a negative return on equity of 3.08%. As a group, research analysts expect that Ero Copper will post 4.742681 EPS 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.