Ero Copper (TSE:ERO) Posts Earnings Results

Ero Copper (TSE:ERO) posted its earnings results on Monday. The company reported C$1.74 earnings per share for the quarter, FiscalAI reports. The firm had revenue of C$495.47 million for the quarter. Ero Copper had a net margin of 29.72% and a return on equity of 30.09%.

Ero Copper Trading Up 0.2%

ERO stock opened at C$40.76 on Tuesday. Ero Copper has a twelve month low of C$27.22 and a twelve month high of C$56.62. The stock has a market capitalization of C$4.25 billion, a price-to-earnings ratio of 13.82, a price-to-earnings-growth ratio of -0.72 and a beta of 1.58. The company has a quick ratio of 1.43, a current ratio of 1.37 and a debt-to-equity ratio of 47.25. The firm’s fifty day simple moving average is C$49.51 and its two-hundred day simple moving average is C$42.62.

Analysts Set New Price Targets

Several research analysts recently commented on the company. National Bank Financial lifted their price target on 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. Canadian Imperial Bank of Commerce boosted their price objective on Ero Copper from C$52.00 to C$56.00 in a research note on Wednesday, September 23rd. Jefferies Financial Group decreased their price objective on Ero Copper from C$42.00 to C$39.00 in a research report on Monday, July 13th. Stifel Nicolaus upped their price objective on Ero Copper from C$52.00 to C$53.00 and gave the company a “hold” rating in a research report on Tuesday, July 21st. Finally, Freedom Broker lowered Ero Copper from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$48.67.

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.