Ero Copper (TSE:ERO) Posts Earnings Results

Ero Copper (TSE:ERO) issued its earnings results on Wednesday. The company reported C$1.18 earnings per share for the quarter, FiscalAI reports. Ero Copper had a return on equity of 31.19% and a net margin of 31.55%.The business had revenue of C$403.95 million for the quarter.

Ero Copper Stock Up 1.1%

ERO stock traded up C$0.45 during mid-day trading on Thursday, hitting C$43.16. 132,415 shares of the company were exchanged, compared to its average volume of 499,470. The firm has a fifty day simple moving average of C$38.43 and a 200 day simple moving average of C$39.61. The company has a market capitalization of C$4.50 billion, a PE ratio of 15.41, a price-to-earnings-growth ratio of -0.72 and a beta of 1.75. Ero Copper has a twelve month low of C$18.53 and a twelve month high of C$53.69. The company has a current ratio of 1.30, a quick ratio of 1.43 and a debt-to-equity ratio of 54.96.

Insider Activity at Ero Copper

In other news, Director Lyle Braaten sold 10,000 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of C$41.80, for a total transaction of C$418,000.00. Following the transaction, the director owned 200,000 shares of the company’s stock, valued at approximately C$8,360,000. This trade represents a 4.76% decrease in their ownership of the stock. Insiders own 10.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Bank of America upgraded Ero Copper from a “neutral” rating to a “buy” rating and upped their price target for the stock from C$41.00 to C$49.00 in a research note on Thursday, July 16th. TD lowered their price target on Ero Copper from C$47.00 to C$44.00 and set a “hold” rating for the company in a report on Tuesday, July 14th. Jefferies Financial Group cut their price objective on Ero Copper from C$42.00 to C$39.00 in a research report on Monday, July 13th. Scotiabank upped their target price on 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. Finally, BMO Capital Markets increased their target price on Ero Copper from C$42.00 to C$48.00 in a research note on Wednesday, April 22nd. Three investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$47.40.

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.