Ero Copper (TSE:ERO) Stock Price Expected to Rise, ATB Cormark Capital Markets Analyst Says

Ero Copper (TSE:ERO) had its price target increased by equities researchers at ATB Cormark Capital Markets from C$50.00 to C$55.00 in a research note issued on Wednesday, BayStreet reports. The firm currently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ target price would indicate a potential upside of 12.87% from the stock’s previous close.

A number of other analysts have also recently weighed in on the company. Bank of America upgraded Ero Copper from a “neutral” rating to a “buy” rating and increased their price target for the stock from C$41.00 to C$49.00 in a research report on Thursday, July 16th. National Bank Financial raised their price target on Ero Copper from C$52.50 to C$55.00 and gave the stock an “outperform” rating in a report on Monday, September 21st. Jefferies Financial Group reduced their price objective on Ero Copper from C$42.00 to C$39.00 in a research report on Monday, July 13th. TD upped their price objective on Ero Copper from C$44.00 to C$45.00 and gave the stock a “hold” rating in a research note on Friday, August 7th. Finally, Freedom Broker downgraded Ero Copper from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 3rd. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, Ero Copper has an average rating of “Moderate Buy” and an average target price of C$48.67.

Ero Copper Stock Performance

Shares of TSE:ERO traded down C$3.33 during trading on Wednesday, reaching C$48.73. 252,728 shares of the company’s stock traded hands, compared to its average volume of 484,646. The stock has a market capitalization of C$5.08 billion, a P/E ratio of 16.52, a price-to-earnings-growth ratio of -0.72 and a beta of 1.58. Ero Copper has a 12 month low of C$27.22 and a 12 month high of C$56.62. The company has a 50 day moving average of C$50.39 and a 200-day moving average of C$42.66. The company has a debt-to-equity ratio of 47.25, a current ratio of 1.37 and a quick ratio of 1.43.

Ero Copper (TSE:ERO) last issued its earnings results on Wednesday, August 5th. The company reported C$1.18 earnings per share (EPS) for the quarter. Ero Copper had a net margin of 29.72% and a return on equity of 30.09%. The firm had revenue of C$403.95 million for the quarter. On average, equities analysts expect that Ero Copper will post 4.74 EPS for the current 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.