Ero Copper (TSE:ERO) Stock Price Expected to Rise, TD Analyst Says

Key Points

• TD raised its price target to C$47 (from C$45) while keeping a "hold" rating—implying about a 9.35% upside—and analyst views remain mixed with a consensus "Moderate Buy" and an average target of C$44.73.
• Q4 results were strong: Ero reported EPS of C$1.43 and revenue of C$430.18M, with a 31.58% ROE and 33.5% net margin; shares traded near C$42.98 with a market cap of C$4.48B and a P/E of 16.99.
• Insider activity and operations: Director John H. Wright sold 15,000 shares at C$52.11 (insiders own 10.37%), and Ero remains a Brazil-focused copper/gold miner advancing the Furnas project with Vale.

Ero Copper (TSE:ERO - Get Free Report) had its price target upped by analysts at TD from C$45.00 to C$47.00 in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has a "hold" rating on the stock. TD's target price suggests a potential upside of 9.35% from the stock's previous close.

A number of other analysts also recently commented on the company. Bank of America downgraded Ero Copper from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from C$49.00 to C$45.00 in a report on Monday, February 9th. Scotiabank upped their price objective on Ero Copper from C$36.00 to C$45.00 in a report on Thursday, January 8th. Canaccord Genuity Group upped their price objective on Ero Copper from C$48.00 to C$52.00 and gave the stock a "buy" rating in a report on Wednesday, February 25th. Jefferies Financial Group dropped their price objective on Ero Copper from C$45.00 to C$38.00 in a report on Friday, February 6th. Finally, Desjardins increased their target price on shares of Ero Copper from C$37.50 to C$45.00 and gave the stock a "hold" rating in a research report on Monday, January 26th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of C$44.73.

Ero Copper Price Performance

Shares of TSE:ERO traded up C$0.40 during midday trading on Friday, hitting C$42.98. 200,268 shares of the stock were exchanged, compared to its average volume of 545,250. The stock has a market cap of C$4.48 billion, a P/E ratio of 16.99, a PEG ratio of -0.72 and a beta of 1.93. The company has a current ratio of 1.06, a quick ratio of 1.43 and a debt-to-equity ratio of 67.59. Ero Copper has a twelve month low of C$13.98 and a twelve month high of C$53.69. The company has a 50 day moving average price of C$40.29 and a 200-day moving average price of C$36.42.

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

Insiders Place Their Bets

In related news, Director John H. Wright sold 15,000 shares of the company's stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of C$52.11, for a total value of C$781,650.00. Following the completion of the sale, the director owned 377,832 shares of the company's stock, valued at C$19,688,825.52. This represents a 3.82% 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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