Ero Copper (TSE:ERO) Price Target Increased to C$40.00 by Analysts at Canaccord Genuity Group

Ero Copper (TSE:ERO) had its price objective lifted by Canaccord Genuity Group from C$39.00 to C$40.00 in a research report sent to investors on Thursday, BayStreet.CA reports. They currently have a buy rating on the stock.

Several other research analysts have also recently weighed in on ERO. TD Securities reduced their price target on shares of Ero Copper from C$31.00 to C$30.00 and set a hold rating for the company in a report on Tuesday, August 6th. Raymond James raised shares of Ero Copper from a market perform rating to an outperform rating and boosted their price objective for the stock from C$34.00 to C$36.00 in a research report on Tuesday, September 3rd. BMO Capital Markets upped their price target on shares of Ero Copper from C$41.00 to C$43.00 in a research report on Tuesday, July 23rd. Scotiabank increased their price objective on shares of Ero Copper from C$36.00 to C$37.00 and gave the company an outperform rating in a research report on Thursday. Finally, Eight Capital increased their price objective on shares of Ero Copper from C$30.00 to C$40.00 in a research report on Thursday, July 11th. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Ero Copper currently has a consensus rating of Moderate Buy and an average target price of C$34.15.

Ero Copper Trading Up 1.2 %

Shares of ERO stock opened at C$29.71 on Thursday. Ero Copper has a 12-month low of C$15.72 and a 12-month high of C$32.89. The company has a market capitalization of C$3.07 billion, a P/E ratio of -114.27, a P/E/G ratio of -0.72 and a beta of 1.98. The company has a quick ratio of 1.43, a current ratio of 0.68 and a debt-to-equity ratio of 82.63. The firm has a 50-day moving average price of C$27.57 and a 200 day moving average price of C$28.17.

Ero Copper (TSE:ERO) last announced its earnings results on Thursday, August 1st. The company reported C$0.25 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.23 by C$0.02. The company had revenue of C$160.22 million during the quarter, compared to the consensus estimate of C$154.50 million. Ero Copper had a negative net margin of 4.79% and a negative return on equity of 3.08%. Research analysts forecast that Ero Copper will post 4.742681 earnings per share 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.