Scotiabank Increases Ero Copper (TSE:ERO) Price Target to C$32.00

Ero Copper (TSE:ERO) had its target price hoisted by equities research analysts at Scotiabank from C$30.00 to C$32.00 in a note issued to investors on Thursday, BayStreet.CA reports. Scotiabank’s price objective points to a potential upside of 7.10% from the company’s previous close.

A number of other equities analysts have also recently commented on ERO. Eight Capital lifted their price objective on shares of Ero Copper from C$23.50 to C$30.00 and gave the stock a “neutral” rating in a research note on Monday, April 22nd. TD Securities lifted their price objective on shares of Ero Copper from C$24.00 to C$25.00 and gave the stock a “hold” rating in a research note on Friday, March 8th. Raymond James lifted their price objective on shares of Ero Copper from C$26.00 to C$30.00 in a research note on Tuesday, April 23rd. BMO Capital Markets lifted their price objective on shares of Ero Copper from C$23.00 to C$23.50 and gave the stock a “market perform” rating in a research note on Friday, March 8th. Finally, CIBC raised their target price on shares of Ero Copper from C$28.50 to C$32.00 and gave the stock a “neutral” rating in a report on Wednesday. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of C$28.62.

Ero Copper Price Performance

ERO traded up C$0.56 during trading on Thursday, hitting C$29.88. 280,247 shares of the company traded hands, compared to its average volume of 312,619. The company has a market cap of C$3.07 billion, a PE ratio of 22.19, a P/E/G ratio of -0.72 and a beta of 2.14. The stock’s 50-day simple moving average is C$26.47 and its two-hundred day simple moving average is C$22.10. Ero Copper has a 1 year low of C$15.72 and a 1 year high of C$32.12. The company has a current ratio of 1.15, a quick ratio of 1.43 and a debt-to-equity ratio of 55.09.

Ero Copper (TSE:ERO) last posted its earnings results on Thursday, March 7th. The company reported C$0.29 earnings per share for the quarter, missing the consensus estimate of C$0.31 by C($0.02). Ero Copper had a net margin of 21.71% and a return on equity of 13.96%. The company had revenue of C$158.50 million for the quarter, compared to analysts’ expectations of C$143.80 million. As a group, sell-side analysts anticipate that Ero Copper will post 2.0391588 earnings per share for the current fiscal year.

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.