National Bank Financial Boosts Ero Copper (TSE:ERO) Price Target to C$52.50

Key Points

• National Bank Financial raised Ero Copper’s price target from C$50.00 to C$52.50 and maintained an “outperform” rating, implying 12.88% potential upside.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and average price target of C$47.63; targets range from C$39.00 to C$55.00.
• 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 closed at C$46.51, up C$2.89 during Friday’s trading.

Ero Copper (TSE:ERO - Get Free Report) had its price target hoisted by stock analysts at National Bank Financial from C$50.00 to C$52.50 in a report released on Friday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. National Bank Financial's target price would indicate a potential upside of 12.88% from the company's current price.

A number of other equities research analysts also recently weighed in on the company. Jefferies Financial Group decreased 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 Ero Copper from C$52.00 to C$53.00 in a research note on Tuesday, July 21st. BMO Capital Markets raised their target price on Ero Copper from C$42.00 to C$48.00 in a research report on Wednesday, April 22nd. TD decreased their price target on shares of Ero Copper from C$47.00 to C$44.00 and set a "hold" rating on the stock in a research note on Tuesday, July 14th. Finally, Scotiabank boosted their price target on shares of Ero Copper from C$50.00 to C$55.00 and gave the company a "sector outperform" rating in a report on Monday, June 15th. Two equities 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's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of C$47.63.

Ero Copper Stock Performance

TSE:ERO traded up C$2.89 during trading hours on Friday, hitting C$46.51. 374,137 shares of the company traded hands, compared to its average volume of 501,618. The stock has a market capitalization of C$4.85 billion, a price-to-earnings ratio of 16.61, a P/E/G ratio of -0.72 and a beta of 1.75. Ero Copper has a twelve month low of C$18.57 and a twelve month high of C$53.69. The firm has a 50-day moving average of C$38.48 and a 200 day moving average of 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 posted its quarterly earnings results on Wednesday, August 5th. The company reported C$1.18 earnings per share (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 forecast that Ero Copper will post 4.7442244 EPS for the current year.

Insider Buying and Selling at Ero Copper

In other news, Director Lyle Braaten sold 10,000 shares of the 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 approximately C$8,360,000. This represents a 4.76% decrease in their position. 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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