Ero Copper (TSE:ERO) Rating Lowered to Sector Perform at Scotiabank

Ero Copper (TSE:ERO) was downgraded by equities research analysts at Scotiabank from a “sector outperform” rating to a “sector perform” rating in a research note issued on Tuesday, BayStreet reports. They presently have a C$55.00 price objective on the stock. Scotiabank’s price objective would indicate a potential upside of 5.49% from the company’s current price.

A number of other research analysts also recently issued reports on ERO. TD boosted their price objective on shares of Ero Copper from C$44.00 to C$45.00 and gave the company a “hold” rating in a research report on Friday, August 7th. Bank of America raised shares of Ero Copper from a “neutral” rating to a “buy” rating and raised their target price for the stock from C$41.00 to C$49.00 in a research report on Thursday, July 16th. Jefferies Financial Group cut their target price on shares of Ero Copper from C$42.00 to C$39.00 in a research note on Monday, July 13th. BMO Capital Markets reiterated an “outperform” rating and set a C$52.00 price target on shares of Ero Copper in a research report on Monday, September 21st. The rating follows a visit to ERO Copper’s operations after the company’s investor day. Matthew Murphy noted progress across the company’s assets. Finally, Stifel Nicolaus boosted their price target on shares of Ero Copper from C$52.00 to C$53.00 and gave the company a “hold” rating in a research report on Tuesday, July 21st. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, Ero Copper currently has an average rating of “Moderate Buy” and a consensus price target of C$48.33.

Ero Copper Trading Down 2.9%

Shares of ERO traded down C$1.53 during mid-day trading on Tuesday, hitting C$52.14. 252,200 shares of the company’s stock traded hands, compared to its average volume of 484,991. The company has a quick ratio of 1.43, a current ratio of 1.37 and a debt-to-equity ratio of 47.25. Ero Copper has a 1 year low of C$27.22 and a 1 year high of C$56.62. The firm has a market capitalization of C$5.44 billion, a P/E ratio of 17.67, a PEG ratio of -0.72 and a beta of 1.58. The business’s 50-day moving average price is C$50.16 and its 200-day moving average price is C$42.54.

Ero Copper (TSE:ERO) last announced its quarterly 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 during the quarter. Ero Copper had a return on equity of 30.09% and a net margin of 29.72%. As a group, sell-side analysts forecast that Ero Copper will post 4.74 EPS for the current fiscal year.

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.