Ero Copper (TSE:ERO) Stock Price Target Cut by Raymond James Financial

Ero Copper (TSE:ERO) had its target price reduced by equities researchers at Raymond James Financial from C$55.00 to C$54.00 in a research note issued to investors on Tuesday, BayStreet reports. The brokerage presently has an “outperform” rating on the stock. Raymond James Financial‘s target price would suggest a potential upside of 26.02% from the company’s previous close.

Other research analysts have also issued research reports about the stock. National Bank Financial lifted their price target on shares of Ero Copper from C$52.50 to C$55.00 and gave the stock an “outperform” rating in a research report on Monday, September 21st. Bank of America upgraded Ero Copper from a “neutral” rating to a “buy” rating and increased their price objective for the company from C$41.00 to C$49.00 in a research report on Thursday, July 16th. BMO Capital Markets reissued an “outperform” rating and set a C$52.00 price objective on shares of Ero Copper in a research note on Monday, September 21st. The rating follows a visit to ERO Copper’s operations after the company’s investor day. Matthew Murphy noted progress across the company’s assets. Jefferies Financial Group dropped their price target on Ero Copper from C$42.00 to C$39.00 in a research note on Monday, July 13th. Finally, TD raised their target price on shares of Ero Copper from C$44.00 to C$45.00 and gave the stock a “hold” rating in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, Ero Copper has an average rating of “Moderate Buy” and a consensus target price of C$49.27.

Ero Copper Price Performance

Shares of ERO traded up C$2.09 during mid-day trading on Tuesday, hitting C$42.85. The company’s stock had a trading volume of 641,861 shares, compared to its average volume of 491,350. The firm has a 50-day moving average price of C$49.51 and a 200 day moving average price of C$42.62. The stock has a market capitalization of C$4.47 billion, a price-to-earnings ratio of 14.53, a PEG ratio of -0.72 and a beta of 1.58. The company has a debt-to-equity ratio of 47.25, a current ratio of 1.37 and a quick ratio of 1.43. Ero Copper has a fifty-two week low of C$27.22 and a fifty-two week high of C$56.62.

Ero Copper (TSE:ERO) last released its earnings results on Monday, November 2nd. The company reported C$1.74 EPS for the quarter. Ero Copper had a net margin of 29.72% and a return on equity of 30.09%. The business had revenue of C$495.47 million for the quarter. On average, research analysts predict that Ero Copper will post 4.74 EPS for the current fiscal year.

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.