Raymond James Financial Has Lowered Expectations for Ero Copper (TSE:ERO) Stock Price

Key Points

• Raymond James cut Ero Copper’s price target from C$55 to C$54 but maintained an “outperform” rating, implying approximately 26% upside from the reported C$42.85 share price.
• Analyst sentiment remains generally positive, with Ero Copper holding a consensus “Moderate Buy” rating and an average price target of C$49.27, despite some recent downgrades to “sector perform” and “hold.”
• Ero Copper reported quarterly revenue of C$495.47 million and EPS of C$1.74, alongside a 29.72% net margin and 30.09% return on equity.

Ero Copper (TSE:ERO - Get Free Report) had its price objective cut by equities research analysts at Raymond James Financial from C$55.00 to C$54.00 in a note issued to investors on Tuesday, BayStreet reports. The brokerage currently has an "outperform" rating on the stock. Raymond James Financial's price target indicates a potential upside of 26.02% from the stock's current price.

Other research analysts have also issued research reports about the company. National Bank Financial boosted their price target on Ero Copper from C$52.50 to C$55.00 and gave the stock an "outperform" rating in a research report on Monday, September 21st. ATB Cormark Capital Markets lifted their price objective on shares of Ero Copper from C$50.00 to C$55.00 and gave the company an "outperform" rating in a research note on Wednesday, October 14th. Bank of America raised shares of Ero Copper from a "neutral" rating to a "buy" rating and upped their price objective for the stock from C$41.00 to C$49.00 in a report on Thursday, July 16th. Scotiabank lowered shares of Ero Copper from a "sector outperform" rating to a "sector perform" rating and set a C$55.00 target price for the company. in a research report on Tuesday, October 13th. Finally, Freedom Broker cut shares of Ero Copper from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, Ero Copper has an average rating of "Moderate Buy" and a consensus price target of C$49.27.

Ero Copper Stock Performance

Shares of TSE:ERO traded up C$2.09 during trading hours on Tuesday, hitting C$42.85. The stock had a trading volume of 641,861 shares, compared to its average volume of 491,350. The stock's fifty day simple moving average is C$49.51 and its 200 day simple moving average is C$42.62. The firm has a market capitalization of C$4.47 billion, a price-to-earnings ratio of 14.53, a PEG ratio of -0.72 and a beta of 1.58. 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 1-year low of C$27.22 and a 1-year high of C$56.62.

Ero Copper (TSE:ERO - Get Free Report) last issued its quarterly earnings data on Monday, November 2nd. The company reported C$1.74 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 business had revenue of C$495.47 million during the quarter. Sell-side analysts anticipate that Ero Copper will post 4.74 earnings per share for the current fiscal 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.