Ero Copper (TSE:ERO) Upgraded by CIBC to Outperform

CIBC upgraded shares of Ero Copper (TSE:ERO) from a neutral rating to an outperform rating in a research note issued to investors on Thursday morning, BayStreet.CA reports. They currently have C$36.00 price objective on the stock, up from their prior price objective of C$32.00.

A number of other analysts have also issued reports on the company. Cormark boosted their target price on Ero Copper from C$30.00 to C$32.50 in a research report on Friday, May 10th. Pi Financial raised Ero Copper from a neutral rating to a buy rating in a research report on Thursday, April 18th. National Bankshares cut their target price on Ero Copper from C$33.50 to C$32.50 and set a sector perform rating on the stock in a research report on Monday, June 10th. BMO Capital Markets upped their price objective on Ero Copper from C$35.00 to C$37.00 and gave the stock a market perform rating in a research report on Monday, June 10th. Finally, Canaccord Genuity Group upped their price objective on Ero Copper from C$34.00 to C$36.00 and gave the stock a buy rating in a research report on Monday, May 13th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Hold and an average target price of C$31.85.

Ero Copper Trading Up 4.0 %

ERO opened at C$28.79 on Thursday. Ero Copper has a one year low of C$15.72 and a one year high of C$32.89. The stock has a market capitalization of C$2.97 billion, a PE ratio of 32.35, a P/E/G ratio of -0.72 and a beta of 2.12. The business’s 50 day moving average price is C$28.75 and its 200 day moving average price is C$24.61. The company has a debt-to-equity ratio of 62.41, a quick ratio of 1.43 and a current ratio of 0.82.

Ero Copper (TSE:ERO) last released its quarterly earnings data on Tuesday, May 7th. The company reported C$0.22 EPS for the quarter, beating analysts’ consensus estimates of C$0.07 by C$0.15. Ero Copper had a return on equity of 9.21% and a net margin of 14.23%. The firm had revenue of C$142.63 million for the quarter, compared to analysts’ expectations of C$141.98 million. As a group, equities research analysts expect that Ero Copper will post 2.2548878 EPS for the current year.

Insider Activity at Ero Copper

In related news, Director Lyle Braaten sold 1,208 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of C$29.69, for a total value of C$35,865.52. 10.93% of the stock is currently owned by corporate insiders.

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.