Ero Copper (TSE:ERO) Price Target Raised to C$34.00

Ero Copper (TSE:ERO) had its price target lifted by Raymond James from C$30.00 to C$34.00 in a research report sent to investors on Thursday morning, BayStreet.CA reports. Raymond James also issued estimates for Ero Copper’s Q2 2024 earnings at $0.35 EPS, Q3 2024 earnings at $1.18 EPS, Q4 2024 earnings at $1.37 EPS, Q2 2025 earnings at $1.18 EPS and Q4 2025 earnings at $1.21 EPS.

ERO has been the subject of several other reports. Eight Capital upped their target price on Ero Copper from C$23.50 to C$30.00 and gave the company a neutral rating in a report on Monday, April 22nd. Cormark increased their target price on Ero Copper from C$30.00 to C$32.50 in a research report on Friday, May 10th. Pi Financial upgraded Ero Copper from a neutral rating to a buy rating in a research note on Thursday, April 18th. BMO Capital Markets upped their price target on shares of Ero Copper from C$32.00 to C$35.00 and gave the stock a market perform rating in a research report on Tuesday, May 21st. Finally, CIBC lifted their price objective on shares of Ero Copper from C$28.50 to C$32.00 and gave the company a neutral rating in a research report on Wednesday, May 8th. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Hold and an average price target of C$30.75.

Ero Copper Stock Performance

Shares of ERO opened at C$31.14 on Thursday. The stock has a market capitalization of C$3.21 billion, a PE ratio of 34.99, a price-to-earnings-growth ratio of -0.72 and a beta of 2.12. The business’s fifty day moving average price is C$28.13 and its 200 day moving average price is C$23.12. The company has a debt-to-equity ratio of 62.41, a current ratio of 0.82 and a quick ratio of 1.43. Ero Copper has a 12-month low of C$15.72 and a 12-month high of C$32.89.

Ero Copper (TSE:ERO) last posted its quarterly earnings results on Thursday, March 7th. The company reported C$0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.31 by C($0.02). Ero Copper had a return on equity of 9.21% and a net margin of 14.23%. The business had revenue of C$158.50 million during the quarter, compared to the consensus estimate of C$143.80 million. Equities research analysts forecast that Ero Copper will post 2.2610322 EPS for the current year.

Insider Activity

In related news, Director Lyle Braaten sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of C$29.45, for a total transaction of C$147,232.50. Insiders own 10.96% of the company’s stock.

Ero Copper Company Profile

Ero Copper Corp. engages in the exploration, development, and production of mining projects in Brazil. The company is involved in the production and sale of copper concentrate from the Caraíba operations located in the Curaçá Valley, northeastern Bahia state, Brazil, as well as gold and silver by-products.