Ero Copper Corp. (TSE:ERO) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Ero Copper has a “Moderate Buy” consensus rating from 15 brokerages: eight analysts rate it a hold, four recommend buying, and three issue a strong-buy rating. The average 12-month price target is C$47.40.
• The company reported quarterly EPS of C$1.18 on revenue of C$403.95 million, with a 31.55% net margin and 31.19% return on equity. Shares opened at C$42.71 and have traded between C$18.53 and C$53.69 over the past year.
• Director Lyle Braaten sold 10,000 shares for approximately C$418,000, reducing his ownership by 4.76%; insiders collectively own 10.37% of Ero Copper.

Shares of Ero Copper Corp. (TSE:ERO - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the fifteen brokerages that are presently covering the firm, Marketbeat reports. Eight equities research analysts have rated the stock with a hold rating, four have given a buy rating and three have issued a strong buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is C$47.40.

Several research analysts recently issued reports on ERO shares. Jefferies Financial Group cut their target price on Ero Copper from C$42.00 to C$39.00 in a research report on Monday, July 13th. Royal Bank Of Canada upped their target price on shares of Ero Copper from C$52.00 to C$53.00 in a research note on Tuesday, July 21st. The Goldman Sachs Group downgraded shares of Ero Copper from a "buy" rating to a "hold" rating and set a C$31.00 target price for the company. in a report on Monday, April 13th. Stifel Nicolaus raised their price target 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. Finally, Scotiabank boosted their price target on shares of Ero Copper from C$50.00 to C$55.00 and gave the stock a "sector outperform" rating in a report on Monday, June 15th.

Ero Copper Stock Performance

Shares of ERO stock opened at C$42.71 on Thursday. The company has a current ratio of 1.30, a quick ratio of 1.43 and a debt-to-equity ratio of 54.96. The firm has a fifty day simple moving average of C$38.43 and a two-hundred day simple moving average of C$39.61. The firm has a market capitalization of C$4.45 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of -0.72 and a beta of 1.75. Ero Copper has a 12 month low of C$18.53 and a 12 month high of C$53.69.

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 (EPS) for the quarter. The business had revenue of C$403.95 million during the quarter. Ero Copper had a return on equity of 31.19% and a net margin of 31.55%. Analysts forecast that Ero Copper will post 4.7442244 EPS for the current fiscal year.

Insider Buying and Selling at Ero Copper

In other news, Director Lyle Braaten sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of C$41.80, for a total value of C$418,000.00. Following the completion of the transaction, the director directly owned 200,000 shares of the company's stock, valued at C$8,360,000. This represents a 4.76% decrease in their ownership of the stock. 10.37% of the stock is owned by insiders.

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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