Ero Copper (TSE:ERO) Cut to Sector Perform at Scotiabank

Scotiabank cut shares of Ero Copper (TSE:ERO) from a sector outperform rating to a sector perform rating in a research report sent to investors on Tuesday, Marketbeat.com reports. They currently have C$55.00 price target on the stock.

A number of other equities research analysts also recently issued reports on the stock. National Bank Financial boosted their price objective on shares of Ero Copper from C$52.50 to C$55.00 and gave the company an “outperform” rating in a research report on Monday, September 21st. Royal Bank Of Canada raised their target price on Ero Copper from C$52.00 to C$53.00 in a report on Tuesday, July 21st. Jefferies Financial Group decreased their target price on Ero Copper from C$42.00 to C$39.00 in a report on Monday, July 13th. Canadian Imperial Bank of Commerce lifted their target price on Ero Copper from C$52.00 to C$56.00 in a research report on Wednesday, September 23rd. Finally, Bank of America raised Ero Copper from a “neutral” rating to a “buy” rating and boosted their price target for the company from C$41.00 to C$49.00 in a report on Thursday, July 16th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$48.67.

Ero Copper Stock Up 0.4%

Shares of ERO stock opened at C$49.25 on Tuesday. Ero Copper has a 12 month low of C$27.22 and a 12 month high of C$56.62. The stock has a market cap of C$5.14 billion, a P/E ratio of 16.69, a P/E/G ratio of -0.72 and a beta of 1.58. The company has a current ratio of 1.37, a quick ratio of 1.43 and a debt-to-equity ratio of 47.25. The company has a 50 day simple moving average of C$50.63 and a two-hundred day simple moving average of C$42.86.

Ero Copper (TSE:ERO) last released its quarterly earnings results on Wednesday, August 5th. The company reported C$1.18 earnings per share for the quarter. The business had revenue of C$403.95 million for the quarter. Ero Copper had a net margin of 29.72% and a return on equity of 30.09%. On average, research analysts expect that Ero Copper will post 4.74 earnings per share for the current 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.