Ero Copper (TSE:ERO) Price Target Raised to C$40.00 at Canaccord Genuity Group

Ero Copper (TSE:ERO) had its price objective lifted by Canaccord Genuity Group from C$39.00 to C$40.00 in a research note issued to investors on Thursday, BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other brokerages have also weighed in on ERO. Ventum Cap Mkts raised Ero Copper from a hold rating to a strong-buy rating in a research report on Monday, July 22nd. BMO Capital Markets upped their price target on shares of Ero Copper from C$41.00 to C$43.00 in a research report on Tuesday, July 23rd. Raymond James raised shares of Ero Copper from a market perform rating to an outperform rating and upped their price target for the company from C$34.00 to C$36.00 in a research report on Tuesday, September 3rd. Eight Capital upped their price target on shares of Ero Copper from C$30.00 to C$40.00 in a research report on Thursday, July 11th. Finally, Ventum Financial reduced their price target on shares of Ero Copper from C$33.00 to C$32.50 in a research report on Thursday, August 22nd. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Ero Copper has an average rating of Moderate Buy and an average price target of C$34.15.

Ero Copper Price Performance

Shares of TSE:ERO opened at C$29.71 on Thursday. Ero Copper has a fifty-two week low of C$15.72 and a fifty-two week high of C$32.89. The business has a 50-day simple moving average of C$27.57 and a two-hundred day simple moving average of C$28.17. The company has a debt-to-equity ratio of 82.63, a quick ratio of 1.43 and a current ratio of 0.68. The firm has a market cap of C$3.07 billion, a price-to-earnings ratio of -114.27, a price-to-earnings-growth ratio of -0.72 and a beta of 1.98.

Ero Copper (TSE:ERO) last issued its earnings results on Thursday, August 1st. The company reported C$0.25 earnings per share for the quarter, topping 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 business had revenue of C$160.22 million during the quarter, compared to analyst estimates of C$154.50 million. On average, analysts expect that Ero Copper will post 4.742681 earnings per share for the current year.

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.