Ero Copper (TSE:ERO) Price Target Raised to C$55.00 at National Bank Financial

Key Points

• National Bank Financial raised Ero Copper’s price target to C$55.00 from C$52.50 and maintained an “outperform” rating, implying 13.22% upside from the prior close.
• Analyst sentiment is broadly positive, with MarketBeat reporting a consensus “Moderate Buy” rating and an average price target of C$47.80.
• Ero Copper shares rose 1.1% to C$48.58, while the company’s latest quarter included C$1.18 in earnings per share and C$403.95 million in revenue.

Ero Copper (TSE:ERO - Get Free Report) had its price objective hoisted by stock analysts at National Bank Financial from C$52.50 to C$55.00 in a research report issued on Monday, BayStreet reports. The firm presently has an "outperform" rating on the stock. National Bank Financial's target price would indicate a potential upside of 13.22% from the stock's previous close.

Several other equities research analysts also recently issued reports on ERO. TD lifted 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 note on Friday, August 7th. Stifel Nicolaus upped their price objective on shares of Ero Copper from C$52.00 to C$53.00 and gave the company a "hold" rating in a research report on Tuesday, July 21st. Bank of America raised Ero Copper from a "neutral" rating to a "buy" rating and lifted their target price for the stock from C$41.00 to C$49.00 in a research report on Thursday, July 16th. Freedom Broker downgraded Ero Copper from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 3rd. Finally, Jefferies Financial Group lowered their price objective on Ero Copper from C$42.00 to C$39.00 in a research note on Monday, July 13th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of C$47.80.

Ero Copper Stock Up 1.1%

Shares of ERO stock traded up C$0.53 during trading hours on Monday, reaching C$48.58. The company had a trading volume of 180,005 shares, compared to its average volume of 494,262. The company has a market capitalization of C$5.07 billion, a P/E ratio of 16.47, a price-to-earnings-growth ratio of -0.72 and a beta of 1.87. The company has a debt-to-equity ratio of 47.25, a quick ratio of 1.43 and a current ratio of 1.37. Ero Copper has a twelve month low of C$23.31 and a twelve month high of C$56.62. The stock's fifty day simple moving average is C$44.99 and its 200 day simple moving average is C$40.78.

Ero Copper (TSE:ERO - Get Free Report) last released its quarterly earnings results 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 return on equity of 30.09% and a net margin of 29.72%. As a group, sell-side analysts expect that Ero Copper will post 4.7442244 earnings per share for the current fiscal year.

About Ero Copper

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.

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