National Bank Financial Raises Ero Copper (TSE:ERO) Price Target to C$52.50

Ero Copper (TSE:ERO) had its price objective upped by equities research analysts at National Bank Financial from C$50.00 to C$52.50 in a report issued on Friday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. National Bank Financial’s price target indicates a potential upside of 12.88% from the company’s previous close.

ERO has been the topic of several other research reports. TD decreased their target price on Ero Copper from C$47.00 to C$44.00 and set a “hold” rating on the stock in a report on Tuesday, July 14th. Scotiabank lifted their price target on Ero Copper from C$50.00 to C$55.00 and gave the company a “sector outperform” rating in a report on Monday, June 15th. Bank of America upgraded shares of 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 report on Thursday, July 16th. BMO Capital Markets raised their price objective on shares of Ero Copper from C$42.00 to C$48.00 in a research report on Wednesday, April 22nd. Finally, Stifel Nicolaus boosted their target price on shares of 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. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$47.63.

Ero Copper Price Performance

Shares of TSE ERO traded up C$2.89 during mid-day trading on Friday, hitting C$46.51. 374,137 shares of the stock were exchanged, compared to its average volume of 501,618. Ero Copper has a twelve month low of C$18.57 and a twelve month high of C$53.69. The stock’s fifty day simple moving average is C$38.48 and its two-hundred day simple moving average is C$39.62. 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 company has a market cap of C$4.85 billion, a P/E ratio of 16.61, a PEG ratio of -0.72 and a beta of 1.75.

Ero Copper (TSE:ERO) last released its quarterly earnings results on Wednesday, August 5th. The company reported C$1.18 EPS for the quarter. 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. As a group, analysts forecast that Ero Copper will post 4.7442244 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Lyle Braaten sold 10,000 shares of Ero Copper stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of C$41.80, for a total value of C$418,000.00. Following the completion of the sale, the director directly 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 position. Insiders own 10.37% of the company’s stock.

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.