Raymond James Financial Has Lowered Expectations for Ero Copper (TSE:ERO) Stock Price

Ero Copper (TSE:ERO) had its price objective cut by equities research analysts at Raymond James Financial from C$55.00 to C$54.00 in a note issued to investors on Tuesday, BayStreet reports. The brokerage currently has an “outperform” rating on the stock. Raymond James Financial‘s price target indicates a potential upside of 26.02% from the stock’s current price.

Other research analysts have also issued research reports about the company. National Bank Financial boosted 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. ATB Cormark Capital Markets lifted their price objective on shares of Ero Copper from C$50.00 to C$55.00 and gave the company an “outperform” rating in a research note on Wednesday, October 14th. Bank of America raised shares of Ero Copper from a “neutral” rating to a “buy” rating and upped their price objective for the stock from C$41.00 to C$49.00 in a report on Thursday, July 16th. Scotiabank lowered shares of Ero Copper from a “sector outperform” rating to a “sector perform” rating and set a C$55.00 target price for the company. in a research report on Tuesday, October 13th. Finally, Freedom Broker cut shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, Ero Copper has an average rating of “Moderate Buy” and a consensus price target of C$49.27.

Ero Copper Stock Performance

Shares of TSE:ERO traded up C$2.09 during trading hours on Tuesday, hitting C$42.85. The stock had a trading volume of 641,861 shares, compared to its average volume of 491,350. The stock’s fifty day simple moving average is C$49.51 and its 200 day simple moving average is C$42.62. The firm has a market capitalization of C$4.47 billion, a price-to-earnings ratio of 14.53, a PEG ratio of -0.72 and a beta of 1.58. The company has a debt-to-equity ratio of 47.25, a quick ratio of 1.43 and a current ratio of 1.37. Ero Copper has a 1-year low of C$27.22 and a 1-year high of C$56.62.

Ero Copper (TSE:ERO) last issued its quarterly earnings data on Monday, November 2nd. The company reported C$1.74 earnings per share (EPS) for the quarter. Ero Copper had a return on equity of 30.09% and a net margin of 29.72%. The business had revenue of C$495.47 million during the quarter. Sell-side analysts anticipate that Ero Copper will post 4.74 earnings per share for the current fiscal year.

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.