Canadian Imperial Bank of Commerce Issues Positive Forecast for Ero Copper (TSE:ERO) Stock Price

Ero Copper (TSE:ERO) had its target price hoisted by research analysts at Canadian Imperial Bank of Commerce from C$52.00 to C$56.00 in a research note issued on Wednesday, BayStreet reports. Canadian Imperial Bank of Commerce’s target price would suggest a potential upside of 9.03% from the company’s current price.

A number of other equities analysts also recently issued reports on the stock. Jefferies Financial Group decreased their price target on shares of Ero Copper from C$42.00 to C$39.00 in a research note on Monday, July 13th. BMO Capital Markets restated an “outperform” rating and set a C$52.00 price target on shares of Ero Copper in a research report on Monday. 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. Freedom Broker downgraded Ero Copper from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 3rd. TD raised their price objective on 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. Finally, Scotiabank upped their target price on shares of Ero Copper from C$50.00 to C$55.00 and gave the stock a “sector outperform” rating in a research report on Monday, June 15th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, Ero Copper presently has an average rating of “Moderate Buy” and an average price target of C$48.33.

Ero Copper Trading Down 2.1%

Shares of ERO stock traded down C$1.11 during trading hours on Wednesday, reaching C$51.36. The company’s stock had a trading volume of 203,566 shares, compared to its average volume of 492,732. The company has a current ratio of 1.37, a quick ratio of 1.43 and a debt-to-equity ratio of 47.25. The stock has a market capitalization of C$5.36 billion, a P/E ratio of 17.41, a P/E/G ratio of -0.72 and a beta of 1.87. The firm’s fifty day simple moving average is C$45.58 and its 200 day simple moving average is C$40.89. Ero Copper has a one year low of C$24.76 and a one year high of C$56.62.

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%. Equities research analysts expect that Ero Copper will post 4.7442244 EPS for the current year.

About Ero Copper

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.