Ero Copper (TSE:ERO) PT Raised to C$18.50

Ero Copper (TSE:ERO) had its price target boosted by analysts at CIBC from C$17.00 to C$18.50 in a research note issued to investors on Friday, November 8th, BayStreet.CA reports. CIBC’s price objective would suggest a potential downside of 11.48% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. National Bank Financial lowered their price target on Ero Copper from C$22.50 to C$18.00 and set a “sector perform” rating on the stock in a report on Friday, October 11th. Raymond James restated an “outperform” rating and issued a C$20.00 price target on shares of Ero Copper in a report on Thursday, November 7th. Canaccord Genuity lowered their price target on Ero Copper from C$28.50 to C$24.50 in a report on Friday, October 11th. Cormark upped their price target on Ero Copper from C$17.50 to C$20.00 in a report on Tuesday, July 23rd. Finally, BMO Capital Markets lowered their price target on Ero Copper from C$22.50 to C$21.50 in a report on Thursday, September 26th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of C$20.66.

ERO traded down C$0.34 on Friday, hitting C$20.90. 198,651 shares of the company traded hands, compared to its average volume of 226,759. The company has a quick ratio of 0.47, a current ratio of 1.09 and a debt-to-equity ratio of 110.58. The company has a 50 day moving average of C$18.56 and a 200-day moving average of C$20.02. Ero Copper has a 12-month low of C$9.38 and a 12-month high of C$25.69. The stock has a market capitalization of $1.75 billion and a PE ratio of 32.66.

Ero Copper (TSE:ERO) last released its earnings results on Tuesday, November 5th. The company reported C$0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.20 by C($0.05). The business had revenue of C$80.57 million during the quarter, compared to the consensus estimate of C$95.76 million. On average, research analysts anticipate that Ero Copper will post 1.1 EPS for the current year.

In other Ero Copper news, Senior Officer Jonathan Nayan Singh sold 2,333 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of C$21.50, for a total transaction of C$50,159.50. Following the transaction, the insider now owns 75,000 shares of the company’s stock, valued at approximately C$1,612,500.

Ero Copper Company Profile

Ero Copper Corp., a base metals mining company, focuses on the production and sale of copper in Brazil. The company also explores for gold and silver ores. Its principal property is the Vale do Curaçá Property located in the northeastern Bahia State, Brazil. The company also holds interests in the Boa Esperança Property located in the municipality of Tucumã, Pará State; and NX Gold Mine, which is located in the eastern portion of the State of Mato Grosso.

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Analyst Recommendations for Ero Copper (TSE:ERO)

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