BMO Capital Markets Forecasts Strong Price Appreciation for Ero Copper (TSE:ERO) Stock
by Amy Steele · The Cerbat GemEro Copper (TSE:ERO – Get Free Report) had its price target increased by research analysts at BMO Capital Markets from C$42.00 to C$48.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. BMO Capital Markets’ price objective would suggest a potential upside of 27.39% from the company’s current price.
A number of other research analysts have also recently commented on the company. Canadian Imperial Bank of Commerce raised their target price on Ero Copper from C$42.00 to C$52.00 in a research note on Wednesday, February 4th. ATB Cormark Capital Markets raised their target price on Ero Copper from C$37.00 to C$50.00 and gave the company a “moderate buy” rating in a research note on Friday, February 6th. Jefferies Financial Group lowered their target price on Ero Copper from C$45.00 to C$38.00 in a research note on Friday, February 6th. TD Securities raised their target price on Ero Copper from C$33.00 to C$45.00 in a research note on Thursday, January 22nd. Finally, TD lifted their price objective on Ero Copper from C$45.00 to C$47.00 and gave the company a “hold” rating in a research note on Friday, April 10th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$45.00.
Get Our Latest Analysis on Ero Copper
Ero Copper Trading Up 2.1%
Shares of ERO stock traded up C$0.78 during trading hours on Wednesday, reaching C$37.68. The company’s stock had a trading volume of 151,023 shares, compared to its average volume of 536,085. The stock has a market capitalization of C$3.93 billion, a P/E ratio of 14.89, a P/E/G ratio of -0.72 and a beta of 1.93. Ero Copper has a one year low of C$15.92 and a one year high of C$53.69. The firm’s fifty day simple moving average is C$39.58 and its 200 day simple moving average is C$37.33. The company has a current ratio of 1.06, a quick ratio of 1.43 and a debt-to-equity ratio of 67.59.
Ero Copper (TSE:ERO – Get Free Report) last released its earnings results on Thursday, March 5th. The company reported C$1.43 EPS for the quarter. The company had revenue of C$430.18 million during the quarter. Ero Copper had a return on equity of 31.58% and a net margin of 33.50%. Equities research analysts expect that Ero Copper will post 4.7442244 EPS for the current year.
Insider Transactions at Ero Copper
In other Ero Copper news, Director John H. Wright sold 15,000 shares of Ero Copper stock in a transaction on Thursday, January 29th. The stock was sold at an average price of C$52.11, for a total transaction of C$781,650.00. Following the completion of the transaction, the director owned 377,832 shares in the company, valued at approximately C$19,688,825.52. The trade was a 3.82% decrease in their ownership of the stock. Insiders own 10.37% of the company’s stock.
Ero Copper Company Profile
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.