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

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

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

Ero Copper Stock Up 4.2%

ERO stock traded up C$1.74 during trading on Monday, hitting C$42.81. 410,794 shares of the company’s stock were exchanged, compared to its average volume of 525,541. The company has a current ratio of 1.30, a quick ratio of 1.43 and a debt-to-equity ratio of 54.96. Ero Copper has a 52-week low of C$17.66 and a 52-week high of C$53.69. The business has a 50-day moving average price of C$39.24 and a two-hundred day moving average price of C$39.44. The stock has a market capitalization of C$4.46 billion, a price-to-earnings ratio of 15.29, a PEG ratio of -0.72 and a beta of 1.77.

Ero Copper (TSE:ERO) last issued 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 company had revenue of C$430.18 million during the quarter. As a group, equities research analysts expect that Ero Copper will post 4.7442244 EPS for the current year.

Insider Activity at Ero Copper

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

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.