Ero Copper (TSE:ERO) Lifted to “Strong-Buy” at Ventum Cap Mkts

Ventum Cap Mkts upgraded shares of Ero Copper (TSE:ERO) from a hold rating to a strong-buy rating in a report issued on Monday morning, Zacks.com reports.

Several other analysts have also issued reports on the stock. CIBC upgraded shares of Ero Copper from a neutral rating to an outperform rating and increased their price target for the company from C$32.00 to C$36.00 in a research note on Thursday, June 20th. Pi Financial upgraded shares of Ero Copper from a neutral rating to a buy rating in a research note on Thursday, April 18th. Cormark boosted their price target on Ero Copper from C$30.00 to C$32.50 in a research report on Friday, May 10th. Jefferies Financial Group upped their price objective on Ero Copper from C$29.00 to C$32.00 in a research note on Friday, July 12th. Finally, Scotiabank upgraded Ero Copper from a sector perform rating to an outperform rating and lifted their target price for the stock from C$32.00 to C$40.00 in a research note on Thursday, May 30th. Seven equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of C$34.04.

Ero Copper Price Performance

TSE:ERO opened at C$26.23 on Monday. Ero Copper has a 52-week low of C$15.72 and a 52-week high of C$32.89. The company has a market cap of C$2.70 billion, a P/E ratio of 29.47, a P/E/G ratio of -0.72 and a beta of 2.12. The company has a debt-to-equity ratio of 62.41, a quick ratio of 1.43 and a current ratio of 0.82. The stock’s 50-day simple moving average is C$29.17 and its 200 day simple moving average is C$26.11.

Ero Copper (TSE:ERO) last posted its quarterly earnings results on Tuesday, May 7th. The company reported C$0.22 earnings per share for the quarter, topping the consensus estimate of C$0.07 by C$0.15. Ero Copper had a return on equity of 9.21% and a net margin of 14.23%. The firm had revenue of C$142.63 million for the quarter, compared to analyst estimates of C$141.98 million. As a group, sell-side analysts forecast that Ero Copper will post 2.2548878 EPS for the current fiscal year.

Insider Activity at Ero Copper

In other news, Director Lyle Braaten sold 10,000 shares of Ero Copper stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of C$28.11, for a total value of C$281,053.00. Over the last three months, insiders have sold 16,208 shares of company stock worth $464,151. Corporate insiders own 10.93% of the company’s stock.

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.