BMO Capital Markets Reiterates Outperform Rating for Ero Copper (TSE:ERO)

Key Points

• BMO Capital Markets reiterated its “outperform” rating on Ero Copper and set a C$52.00 price target, implying 6.86% upside from the prior close after reviewing the company’s operations.
• Analyst sentiment is broadly positive but mixed, with Ero Copper holding a consensus “Moderate Buy” rating and an average price target of C$48.07. Recent targets range from C$39.00 to C$55.00.
• Ero Copper shares traded at C$48.66, while the company reported C$1.18 in quarterly EPS and C$403.95 million in revenue; it operates copper and gold assets in Brazil.

Ero Copper (TSE:ERO - Get Free Report)'s stock had its "outperform" rating restated by analysts at BMO Capital Markets in a research report issued to clients and investors on Monday. They currently have a C$52.00 price target on the stock. BMO Capital Markets' price objective indicates a potential upside of 6.86% from the company's previous close. The rating follows a visit to ERO Copper’s operations after the company’s investor day. Matthew Murphy noted progress across the company’s assets.

Several other analysts have also issued reports on the stock. Jefferies Financial Group dropped their price target on shares of Ero Copper from C$42.00 to C$39.00 in a research report on Monday, July 13th. Royal Bank Of Canada upped their price target on shares of Ero Copper from C$52.00 to C$53.00 in a research report on Tuesday, July 21st. TD upped their price target on shares of Ero Copper from C$44.00 to C$45.00 and gave the stock a "hold" rating in a research report on Friday, August 7th. Freedom Broker lowered shares of Ero Copper from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 3rd. Finally, National Bank Financial upped their price target on shares of Ero Copper from C$52.50 to C$55.00 and gave the stock an "outperform" rating in a research report on Monday. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat, Ero Copper presently has an average rating of "Moderate Buy" and a consensus price target of C$48.07.

Ero Copper Stock Performance

Shares of ERO traded up C$0.61 during mid-day trading on Monday, hitting C$48.66. 227,930 shares of the company traded hands, compared to its average volume of 494,472. The company has a debt-to-equity ratio of 47.25, a quick ratio of 1.43 and a current ratio of 1.37. The stock has a 50-day moving average price of C$44.99 and a two-hundred day moving average price of C$40.78. Ero Copper has a 1 year low of C$23.31 and a 1 year high of C$56.62. The stock has a market cap of C$5.08 billion, a price-to-earnings ratio of 16.49, a P/E/G ratio of -0.72 and a beta of 1.87.

Ero Copper (TSE:ERO - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported C$1.18 earnings per share for the quarter. The firm had revenue of C$403.95 million during the quarter. Ero Copper had a net margin of 29.72% and a return on equity of 30.09%. Equities analysts anticipate that Ero Copper will post 4.7442244 earnings per share for the current year.

Ero Copper Company Profile

Ero is a Brazil -focused, growth-oriented mining company with a diversified portfolio of copper and gold assets. Headquartered in Vancouver, B.C., the Company operates two copper mines - the Caraíba Operations in Bahia State and the Tucumã Operation in Pará State - as well as the Xavantina Operations, a producing gold mine in Mato Grosso State. In addition to its operating assets, Ero is advancing the Furnas Copper-Gold Project, located in the mineral-rich Carajás Province in Pará State, through a definitive earn-in agreement with Vale Base Metals to acquire a 60% interest in the project.