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

Ero Copper (TSE:ERO) had its target price raised by research analysts at CIBC from C$28.50 to C$32.00 in a research note issued on Wednesday, BayStreet.CA reports. The brokerage currently has a “neutral” rating on the stock. CIBC’s price target points to a potential upside of 7.24% from the stock’s previous close.

Several other research firms have also recently commented on ERO. Scotiabank raised their price target on Ero Copper from C$24.00 to C$25.00 and gave the company a “sector perform” rating in a report on Tuesday, February 6th. TD Securities raised their target price on shares of Ero Copper from C$24.00 to C$25.00 and gave the company a “hold” rating in a report on Friday, March 8th. Pi Financial raised shares of Ero Copper from a “neutral” rating to a “buy” rating in a report on Thursday, April 18th. Raymond James upped their target price on Ero Copper from C$26.00 to C$30.00 in a research note on Tuesday, April 23rd. Finally, Canaccord Genuity Group upped their price objective on Ero Copper from C$26.00 to C$34.00 in a research report on Wednesday, April 17th. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of C$28.62.

Ero Copper Trading Up 1.8 %

TSE ERO opened at C$29.84 on Wednesday. Ero Copper has a one year low of C$15.72 and a one year high of C$32.12. The firm has a 50 day simple moving average of C$26.61 and a 200-day simple moving average of C$22.15. The company has a debt-to-equity ratio of 55.09, a quick ratio of 1.43 and a current ratio of 1.15. The firm has a market cap of C$3.07 billion, a price-to-earnings ratio of 22.27, a PEG ratio of -0.72 and a beta of 2.14.

Ero Copper (TSE:ERO) last issued its earnings results on Thursday, March 7th. The company reported C$0.29 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of C$143.80 million. Equities research analysts anticipate that Ero Copper will post 2.0391588 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 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.