Raymond James upgraded shares of Ero Copper (TSE:ERO – Free Report) from a market perform rating to an outperform rating in a research note issued to investors on Tuesday, BayStreet.CA reports. Raymond James currently has C$36.00 target price on the stock, up from their previous target price of C$34.00.
A number of other research analysts have also recently commented on ERO. Ventum Cap Mkts upgraded Ero Copper from a hold rating to a strong-buy rating in a research note on Monday, July 22nd. Cormark boosted their price objective on Ero Copper from C$30.00 to C$32.50 in a research note on Friday, May 10th. BMO Capital Markets boosted their price objective on Ero Copper from C$41.00 to C$43.00 in a research note on Tuesday, July 23rd. National Bankshares boosted their price objective on Ero Copper from C$32.50 to C$33.00 and gave the stock a sector perform rating in a research note on Monday, July 15th. Finally, Eight Capital boosted their price objective on Ero Copper from C$30.00 to C$40.00 in a research note on Thursday, July 11th. Six analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of C$33.77.
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Ero Copper Price Performance
Ero Copper (TSE:ERO – Get Free Report) last issued its earnings results on Thursday, August 1st. The company reported C$0.25 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.23 by C$0.02. Ero Copper had a negative return on equity of 3.08% and a negative net margin of 4.79%. The firm had revenue of C$160.22 million for the quarter, compared to analysts’ expectations of C$154.50 million.
Insider Buying and Selling
In related news, Director Lyle Braaten sold 10,000 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of C$28.11, for a total value of C$281,053.00. Insiders own 10.37% 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.
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