TD Issues Positive Forecast for Ero Copper (TSE:ERO) Stock Price

Ero Copper (TSE:ERO) had its target price lifted by TD from C$44.00 to C$45.00 in a report issued on Friday morning,BayStreet.CA reports. The brokerage currently has a hold rating on the stock.

Several other brokerages have also recently issued reports on ERO. BMO Capital Markets increased their target price on Ero Copper from C$42.00 to C$48.00 in a research report on Wednesday, April 22nd. Royal Bank Of Canada boosted their price target on Ero Copper from C$52.00 to C$53.00 in a research report on Tuesday, July 21st. Stifel Nicolaus upped their price objective 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 raised Ero Copper from a “neutral” rating to a “buy” rating and raised their price objective for the company from C$41.00 to C$49.00 in a research report on Thursday, July 16th. Finally, Jefferies Financial Group cut their target price on Ero Copper from C$42.00 to C$39.00 in a research note on Monday, July 13th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$47.63.

Ero Copper Price Performance

TSE ERO opened at C$47.78 on Friday. The company has a debt-to-equity ratio of 54.96, a quick ratio of 1.43 and a current ratio of 1.30. The firm’s 50 day moving average price is C$38.59 and its 200-day moving average price is C$39.68. Ero Copper has a 52-week low of C$18.57 and a 52-week high of C$53.69. The company has a market cap of C$4.98 billion, a PE ratio of 17.06, a P/E/G ratio of -0.72 and a beta of 1.75.

Ero Copper (TSE:ERO) last issued its quarterly earnings data 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%. Sell-side analysts forecast that Ero Copper will post 4.7442244 EPS for the current fiscal year.

Insiders Place Their Bets

In other Ero Copper news, Director Lyle Braaten sold 10,000 shares of Ero Copper stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of C$41.80, for a total value of C$418,000.00. Following the transaction, the director directly owned 200,000 shares of the company’s stock, valued at approximately C$8,360,000. The trade was a 4.76% decrease in their ownership of the stock. 10.37% of the stock is currently owned by company insiders.

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.