Ero Copper (TSE:ERO) Downgraded by Scotiabank to Sector Perform

Scotiabank cut shares of Ero Copper (TSE:ERO) from an outperform rating to a sector perform rating in a research note released on Thursday, BayStreet.CA reports. The firm currently has C$28.00 target price on the stock, down from their previous target price of C$33.00.

ERO has been the topic of a number of other reports. BMO Capital Markets upped their target price on Ero Copper from C$24.00 to C$25.00 in a research report on Monday, July 17th. Raymond James lowered Ero Copper from an outperform rating to a market perform rating and set a C$28.00 price target on the stock. in a research report on Friday, July 14th. CIBC dropped their price target on Ero Copper from C$27.00 to C$26.00 in a research report on Monday, May 29th. National Bank Financial upped their price target on Ero Copper from C$25.50 to C$26.50 in a research report on Wednesday, May 10th. Finally, Stifel Nicolaus set a C$30.00 price target on Ero Copper and gave the company a hold rating in a research report on Friday, May 19th. Eight equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of C$26.55.

Ero Copper Stock Performance

Shares of ERO opened at C$27.95 on Thursday. The business’s 50 day moving average is C$28.23 and its two-hundred day moving average is C$25.64. Ero Copper has a 52-week low of C$11.61 and a 52-week high of C$32.12. The firm has a market cap of C$2.61 billion, a price-to-earnings ratio of 24.96, a PEG ratio of -0.72 and a beta of 2.19. The company has a quick ratio of 1.43, a current ratio of 2.00 and a debt-to-equity ratio of 66.75.

Ero Copper (TSE:ERO) last announced its earnings results on Thursday, August 3rd. The company reported C$0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.30 by C$0.02. Ero Copper had a return on equity of 13.91% and a net margin of 19.50%. The company had revenue of C$140.91 million for the quarter, compared to analyst estimates of C$144.41 million. Analysts forecast that Ero Copper will post 1.4402258 EPS for the current fiscal year.

About Ero Copper

Ero Copper Corp. engages in the exploration, development, and production of mining projects in Brazil. The company engages in the production and sale of copper concentrate from the Caraíba operations, located within the Curaçá Valley, northeastern Bahia state, as well as gold and silver by-products. It also holds a 99.6% interest in the Tucumã project, a copper development project located within southeastern Pará state; and holds a 97.6% interest in the Xavantina Operations located in Mato Grosso state.