CIBC Issues Positive Forecast for Ero Copper (TSE:ERO) Stock Price

Ero Copper (TSE:ERO) had its price target hoisted by CIBC from C$42.00 to C$52.00 in a report issued on Wednesday,BayStreet.CA reports.

Several other research firms also recently commented on ERO. Freedom Capital raised shares of Ero Copper to a “strong-buy” rating in a report on Tuesday, December 30th. Desjardins boosted their price target on shares of Ero Copper from C$37.50 to C$45.00 and gave the company a “hold” rating in a research report on Monday, January 26th. TD Securities raised their price objective on shares of Ero Copper from C$33.00 to C$45.00 in a report on Thursday, January 22nd. Scotiabank boosted their target price on shares of Ero Copper from C$36.00 to C$45.00 in a report on Thursday, January 8th. Finally, Canaccord Genuity Group raised Ero Copper from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 14th. Three research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Ero Copper presently has an average rating of “Moderate Buy” and a consensus price target of C$41.30.

Ero Copper Price Performance

Shares of TSE ERO opened at C$48.19 on Wednesday. The company has a current ratio of 0.68, a quick ratio of 1.43 and a debt-to-equity ratio of 83.17. The stock has a fifty day simple moving average of C$39.78 and a two-hundred day simple moving average of C$30.27. Ero Copper has a 1-year low of C$13.17 and a 1-year high of C$53.69. The firm has a market cap of C$5.01 billion, a price-to-earnings ratio of 36.23, a price-to-earnings-growth ratio of -0.72 and a beta of 1.99.

Ero Copper (TSE:ERO) last issued its quarterly earnings results on Tuesday, November 4th. The company reported C$0.27 EPS for the quarter. The firm had revenue of C$246.59 million for the quarter. Ero Copper had a return on equity of 2.24% and a net margin of 3.45%. Analysts anticipate that Ero Copper will post 4.7442244 earnings per share for the current year.

Insider Activity at Ero Copper

In other news, Director John H. Wright sold 15,000 shares of the company’s stock in a transaction 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 transaction, the director owned 377,832 shares of the company’s stock, valued at approximately C$19,688,825.52. This represents a 3.82% decrease in their ownership of the stock. 10.37% of the stock is owned by company insiders.

About Ero Copper