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

Ero Copper (TSE:ERO) had its price target raised by Scotiabank from C$50.00 to C$55.00 in a note issued to investors on Monday,BayStreet.CA reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s price target would indicate a potential upside of 28.47% from the company’s current price.

A number of other equities research analysts have also recently weighed in on ERO. BMO Capital Markets upped their price target on Ero Copper from C$42.00 to C$48.00 in a report on Wednesday, April 22nd. TD upped their price target on Ero Copper from C$45.00 to C$47.00 and gave the stock a “hold” rating in a report on Friday, April 10th. The Goldman Sachs Group cut Ero Copper from a “buy” rating to a “hold” rating and set a C$31.00 price target on the stock. in a report on Monday, April 13th. Canaccord Genuity Group upped their target price on Ero Copper from C$48.00 to C$52.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Finally, National Bank Financial raised Ero Copper from a “hold” rating to a “strong-buy” rating and set a C$50.00 target price on the stock in a report on Tuesday, May 5th. Three equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$45.71.

Ero Copper Price Performance

ERO stock traded up C$1.74 on Monday, reaching C$42.81. 410,794 shares of the company’s stock were exchanged, compared to its average volume of 525,541. The stock has a fifty day moving average of C$39.24 and a 200-day moving average of C$39.44. Ero Copper has a twelve month low of C$17.66 and a twelve month high of C$53.69. The firm has a market cap of C$4.46 billion, a PE ratio of 15.29, a P/E/G ratio of -0.72 and a beta of 1.77. The company has a quick ratio of 1.43, a current ratio of 1.30 and a debt-to-equity ratio of 54.96.

Ero Copper (TSE:ERO) last announced its quarterly earnings data on Thursday, March 5th. The company reported C$1.43 earnings per share for the quarter. Ero Copper had a return on equity of 31.19% and a net margin of 31.55%.The firm had revenue of C$430.18 million for the quarter. As a group, equities analysts predict that Ero Copper will post 4.7442244 EPS for the current fiscal year.

Insiders Place Their Bets

In other Ero Copper news, Director Lyle Braaten sold 10,000 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of C$41.80, for a total value of C$418,000.00. Following the sale, the director owned 200,000 shares of the company’s stock, valued at approximately C$8,360,000. This represents a 4.76% decrease in their ownership of the stock. Company insiders own 10.37% of the company’s stock.

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.