Raymond James Financial Boosts Ero Copper (TSE:ERO) Price Target to C$33.00

Key Points

• Raymond James Financial increased Ero Copper's price target from C$28.00 to C$33.00, indicating a potential upside of 10.63% from its last closing price.
• Multiple analysts have revised their price targets for Ero Copper, with forecasts ranging from C$26.00 to C$37.00, reflecting various ratings from "Strong Buy" to "Neutral."
• Shares of Ero Copper experienced a decline of 5.8% on Friday, trading at C$29.83 despite a robust market capitalization of C$3.09 billion.

Ero Copper (TSE:ERO - Get Free Report) had its target price upped by Raymond James Financial from C$28.00 to C$33.00 in a research note issued to investors on Friday,BayStreet.CA reports. Raymond James Financial's price target points to a potential upside of 10.63% from the stock's previous close.

Other analysts also recently issued reports about the company. BMO Capital Markets raised their price objective on Ero Copper from C$24.00 to C$27.00 and gave the stock an "outperform" rating in a research report on Friday, July 4th. National Bankshares raised their price objective on Ero Copper from C$27.00 to C$35.00 and gave the stock a "sector perform" rating in a research report on Wednesday. CIBC downgraded Ero Copper from an "outperform" rating to a "neutral" rating and raised their price objective for the stock from C$22.50 to C$37.00 in a research report on Friday. Scotiabank raised their price objective on Ero Copper from C$24.00 to C$26.00 in a research report on Monday, June 16th. Finally, Stifel Canada raised Ero Copper to a "strong-buy" rating in a research report on Tuesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of C$28.33.

Ero Copper Trading Down 5.8%

Shares of ERO traded down C$1.83 during midday trading on Friday, reaching C$29.83. The company had a trading volume of 426,287 shares, compared to its average volume of 369,823. Ero Copper has a 1-year low of C$13.17 and a 1-year high of C$33.50. The stock has a market cap of C$3.09 billion, a PE ratio of 21.62, a price-to-earnings-growth ratio of -0.72 and a beta of 1.52. The firm has a 50 day simple moving average of C$22.57 and a 200-day simple moving average of C$20.22. The company has a quick ratio of 1.43, a current ratio of 0.68 and a debt-to-equity ratio of 83.17.

About Ero Copper

Ero Copper Corp is a base metals mining company. It is focused on the production and sale of copper from the Vale do Curaca Property in Brazil, with gold and silver produced and sold as by-products from the same. Ero's operations are segmented between MCSA, NX Gold, and corporate. Ore is processed using conventional crushing and flotation at the Caraiba Mill, located adjacent to the Pilar underground mine.

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