BMO Capital Markets Forecasts Strong Price Appreciation for Ero Copper (TSE:ERO) Stock

Key Points

• BMO Capital Markets raised its target on Ero Copper from C$42 to C$48, implying a potential upside of 27.39% from the current share price.
• Analysts are mixed: MarketBeat's consensus is a "Moderate Buy" with an average target of C$45, while some firms (CIBC, Canaccord) raised targets to C$52 and others (Jefferies, Goldman Sachs, Bank of America) cut targets or downgraded ratings.
• Ero trades around C$37.68 with a market cap of C$3.93B and a P/E of 14.89, and Director John H. Wright recently sold 15,000 shares at C$52.11; insiders own about 10.37% of the company.

Ero Copper (TSE:ERO - Get Free Report) had its target price increased by research analysts at BMO Capital Markets from C$42.00 to C$48.00 in a research report issued on Wednesday,BayStreet.CA reports. BMO Capital Markets' price objective points to a potential upside of 27.39% from the company's current price.

A number of other equities analysts have also recently weighed in on ERO. Canadian Imperial Bank of Commerce raised their price objective on Ero Copper from C$42.00 to C$52.00 in a report on Wednesday, February 4th. Jefferies Financial Group decreased their price objective on Ero Copper from C$45.00 to C$38.00 in a report on Friday, February 6th. The Goldman Sachs Group lowered Ero Copper from a "buy" rating to a "hold" rating and set a C$31.00 price target on the stock. in a research report on Monday, April 13th. Canaccord Genuity Group raised their price target on Ero Copper from C$48.00 to C$52.00 and gave the stock a "buy" rating in a research report on Wednesday, February 25th. Finally, Bank of America lowered Ero Copper from a "buy" rating to a "neutral" rating and reduced their price target for the stock from C$49.00 to C$45.00 in a research report on Monday, February 9th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of C$45.00.

Ero Copper Price Performance

Shares of TSE ERO traded up C$0.78 during trading hours on Wednesday, reaching C$37.68. 151,023 shares of the stock traded hands, compared to its average volume of 536,085. The company has a market capitalization of C$3.93 billion, a P/E ratio of 14.89, a price-to-earnings-growth ratio of -0.72 and a beta of 1.93. The company has a quick ratio of 1.43, a current ratio of 1.06 and a debt-to-equity ratio of 67.59. Ero Copper has a 52-week low of C$15.92 and a 52-week high of C$53.69. The company's 50-day simple moving average is C$39.58 and its two-hundred day simple moving average is C$37.33.

Ero Copper (TSE:ERO - Get Free Report) last announced its quarterly earnings data on Thursday, March 5th. The company reported C$1.43 earnings per share for the quarter. The company had revenue of C$430.18 million for the quarter. Ero Copper had a return on equity of 31.58% and a net margin of 33.50%. Equities research analysts forecast that Ero Copper will post 4.7442244 EPS for the current year.

Insider Transactions at Ero Copper

In related news, Director John H. Wright sold 15,000 shares of the firm's stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of C$52.11, for a total transaction of C$781,650.00. Following the transaction, the director directly owned 377,832 shares in the company, valued at C$19,688,825.52. This trade represents a 3.82% decrease in their position. 10.37% of the stock is currently owned by insiders.

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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