Ero Copper (TSE:ERO) Stock Price Target Raised at ATB Cormark Capital Markets

Key Points

• ATB Cormark raised Ero Copper’s price target from C$50 to C$55 while maintaining an “outperform” rating, implying 12.87% upside from the prior close.
• Analyst sentiment is broadly positive, with MarketBeat reporting a “Moderate Buy” consensus and an average target of C$48.67, though ratings include nine Holds alongside two Strong Buys and five Buys.
• Ero Copper shares fell 6.4% to C$48.73 in Wednesday trading. The company recently reported C$1.18 in quarterly EPS on C$403.95 million in revenue, with a 29.72% net margin.

Ero Copper (TSE:ERO - Get Free Report) had its price target hoisted by stock analysts at ATB Cormark Capital Markets from C$50.00 to C$55.00 in a report released on Wednesday, BayStreet reports. The brokerage presently has an "outperform" rating on the stock. ATB Cormark Capital Markets' price target points to a potential upside of 12.87% from the stock's previous close.

Several other research firms have also recently commented on ERO. National Bank Financial increased their target price on Ero Copper from C$52.50 to C$55.00 and gave the company an "outperform" rating in a research note on Monday, September 21st. Scotiabank lowered shares of Ero Copper from a "sector outperform" rating to a "sector perform" rating and set a C$55.00 price target for the company. in a research note on Tuesday. Canadian Imperial Bank of Commerce upped their price target on shares of Ero Copper from C$52.00 to C$56.00 in a report on Wednesday, September 23rd. Stifel Nicolaus increased 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 note on Tuesday, July 21st. Finally, Royal Bank Of Canada raised their price objective on shares of Ero Copper from C$52.00 to C$53.00 in a report on Tuesday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, Ero Copper has an average rating of "Moderate Buy" and an average target price of C$48.67.

Ero Copper Stock Down 6.4%

Shares of TSE:ERO traded down C$3.33 during trading on Wednesday, hitting C$48.73. The company's stock had a trading volume of 252,728 shares, compared to its average volume of 484,646. The company has a market capitalization of C$5.08 billion, a PE ratio of 16.52, a PEG ratio of -0.72 and a beta of 1.58. Ero Copper has a fifty-two week low of C$27.22 and a fifty-two week high of C$56.62. 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's 50-day moving average price is C$50.39 and its two-hundred day moving average price is C$42.66.

Ero Copper (TSE:ERO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported C$1.18 earnings per share (EPS) for the quarter. Ero Copper had a return on equity of 30.09% and a net margin of 29.72%. The company had revenue of C$403.95 million for the quarter. As a group, sell-side analysts expect that Ero Copper will post 4.74 EPS 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.

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