Ero Copper (TSE:ERO) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Ero Copper (TSE:ERO) had its price objective hoisted by stock analysts at BMO Capital Markets from C$42.00 to C$48.00 in a report released on Wednesday,BayStreet.CA reports. BMO Capital Markets’ target price would indicate a potential upside of 28.79% from the company’s previous close.

Several other analysts have also issued reports on ERO. The Goldman Sachs Group lowered shares of Ero Copper from a “buy” rating to a “hold” rating and set a C$31.00 price target on the stock. in a research report on Monday, April 13th. TD boosted their price objective on shares of Ero Copper from C$45.00 to C$47.00 and gave the company a “hold” rating in a research report on Friday, April 10th. Desjardins upped their target price on Ero Copper from C$37.50 to C$45.00 and gave the stock a “hold” rating in a research note on Monday, January 26th. Jefferies Financial Group reduced their target price on Ero Copper from C$45.00 to C$38.00 in a report on Friday, February 6th. Finally, Canaccord Genuity Group lifted their price target on Ero Copper from C$48.00 to C$52.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$45.00.

Ero Copper Trading Down 1.3%

ERO opened at C$37.27 on Wednesday. Ero Copper has a twelve month low of C$16.56 and a twelve month high of C$53.69. The company has a 50-day simple moving average of C$39.41 and a 200 day simple moving average of C$37.33. The company has a quick ratio of 1.43, a current ratio of 1.06 and a debt-to-equity ratio of 67.59. The stock has a market capitalization of C$3.89 billion, a price-to-earnings ratio of 14.73, a P/E/G ratio of -0.72 and a beta of 1.93.

Ero Copper (TSE:ERO) last announced its quarterly earnings data on Thursday, March 5th. The company reported C$1.43 earnings per share (EPS) for the quarter. The firm had revenue of C$430.18 million for the quarter. Ero Copper had a net margin of 33.50% and a return on equity of 31.58%. Analysts predict that Ero Copper will post 4.7442244 EPS for the current fiscal year.

Insider Transactions at Ero Copper

In related news, Director John H. Wright sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of C$52.11, for a total value of C$781,650.00. Following the completion of the transaction, the director owned 377,832 shares in the company, valued at C$19,688,825.52. This trade represents a 3.82% decrease in their position. 10.37% of the stock is currently owned by company insiders.

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.