Ero Copper (TSE:ERO) Stock Price Expected to Rise, CIBC Analyst Says

Ero Copper (TSE:ERO) had its price target increased by investment analysts at CIBC from C$42.00 to C$52.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. CIBC’s price objective indicates a potential upside of 7.88% from the stock’s previous close.

ERO has been the topic of several other research reports. Freedom Capital raised shares of Ero Copper to a “strong-buy” rating in a report on Tuesday, December 30th. TD Securities boosted their target price on Ero Copper from C$33.00 to C$45.00 in a research report on Thursday, January 22nd. Canaccord Genuity Group upgraded shares of Ero Copper from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 14th. Scotiabank raised their price target on shares of Ero Copper from C$36.00 to C$45.00 in a research report on Thursday, January 8th. Finally, Cibc World Mkts lowered Ero Copper from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Three research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$41.30.

Ero Copper Price Performance

Shares of TSE:ERO traded down C$2.13 on Wednesday, hitting C$48.20. The company’s stock had a trading volume of 413,210 shares, compared to its average volume of 568,416. The company has a 50-day simple moving average of C$39.50 and a 200 day simple moving average of C$30.14. The company has a market capitalization of C$5.01 billion, a PE ratio of 36.24, a PEG ratio of -0.72 and a beta of 1.99. The company has a debt-to-equity ratio of 83.17, a current ratio of 0.68 and a quick ratio of 1.43. Ero Copper has a 1 year low of C$13.17 and a 1 year high of C$53.69.

Ero Copper (TSE:ERO) last announced its quarterly earnings data on Tuesday, November 4th. The company reported C$0.27 earnings per share (EPS) for the quarter. Ero Copper had a return on equity of 2.24% and a net margin of 3.45%.The firm had revenue of C$246.59 million for the quarter. Sell-side analysts forecast that Ero Copper will post 4.7442244 EPS for the current fiscal year.

Insider Activity at Ero Copper

In other news, Director John H. Wright sold 15,000 shares of the company’s stock in a transaction on Thursday, January 29th. The shares were sold at an average price of C$52.11, for a total transaction of C$781,650.00. Following the transaction, the director directly owned 377,832 shares of the company’s stock, valued at C$19,688,825.52. This represents a 3.82% decrease in their position. Insiders own 10.37% of the company’s stock.

About Ero Copper