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

Key Points

• TD raised Ero Copper’s price target to C$45 from C$44 but maintained a “hold” rating, implying 3.25% downside from the reported C$46.51 share price.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and average price target of C$47.63; targets from other firms range as high as C$53.
• Ero Copper 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 rose 6.6% in Friday trading.

Ero Copper (TSE:ERO - Get Free Report) had its price target raised by TD from C$44.00 to C$45.00 in a report issued on Friday,BayStreet.CA reports. The brokerage presently has a "hold" rating on the stock. TD's target price suggests a potential downside of 3.25% from the stock's current price.

ERO has been the topic of a number of other reports. The Goldman Sachs Group cut Ero Copper from a "buy" rating to a "hold" rating and set a C$31.00 price objective on the stock. in a research note on Monday, April 13th. BMO Capital Markets raised their price target on Ero Copper from C$42.00 to C$48.00 in a research report on Wednesday, April 22nd. Stifel Nicolaus lifted their price target on Ero Copper from C$52.00 to C$53.00 and gave the stock a "hold" rating in a research note on Tuesday, July 21st. Bank of America upgraded Ero Copper from a "neutral" rating to a "buy" rating and boosted their price objective for the company from C$41.00 to C$49.00 in a research report on Thursday, July 16th. Finally, Royal Bank Of Canada increased their price objective on Ero Copper from C$52.00 to C$53.00 in a research note on Tuesday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of C$47.63.

Ero Copper Trading Up 6.6%

Shares of ERO traded up C$2.89 during mid-day trading on Friday, reaching C$46.51. The company's stock had a trading volume of 374,137 shares, compared to its average volume of 501,618. Ero Copper has a 52 week low of C$18.57 and a 52 week high of C$53.69. The stock has a market cap of C$4.85 billion, a PE ratio of 16.61, a P/E/G ratio of -0.72 and a beta of 1.75. The company's fifty day moving average price is C$38.48 and its two-hundred day moving average price is C$39.62. The company has a current ratio of 1.30, a quick ratio of 1.43 and a debt-to-equity ratio of 54.96.

Ero Copper (TSE:ERO - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported C$1.18 EPS for the quarter. The company had revenue of C$403.95 million for the quarter. Ero Copper had a net margin of 31.55% and a return on equity of 31.19%. On average, analysts predict that Ero Copper will post 4.7442244 earnings per share for the current fiscal year.

Insider Buying and Selling at Ero Copper

In related news, Director Lyle Braaten sold 10,000 shares of the firm's stock in a transaction dated 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 sale, the director directly owned 200,000 shares of the company's stock, valued at C$8,360,000. This trade represents a 4.76% decrease in their ownership of the stock. Corporate insiders own 10.37% of the company's stock.

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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