Ero Copper (TSE:ERO) Stock Moved Up to Strong-Buy by Scotiabank

Scotiabank upgraded shares of Ero Copper (TSE:ERO) from a hold rating to a strong-buy rating in a report released on Tuesday morning,Zacks reports.

A number of other research firms have also weighed in on ERO. ATB Cormark Capital Markets upped their target price on shares of Ero Copper from C$50.00 to C$55.00 and gave the stock an “outperform” rating in a report on Wednesday, October 14th. Bank of America raised shares of Ero Copper from a “neutral” rating to a “buy” rating and raised their price target for the company from C$41.00 to C$49.00 in a report on Thursday, July 16th. Raymond James Financial cut their price target on shares of Ero Copper from C$55.00 to C$54.00 and set an “outperform” rating for the company in a report on Tuesday. Royal Bank Of Canada boosted their price target on shares of Ero Copper from C$52.00 to C$53.00 in a research report on Tuesday, July 21st. Finally, Stifel Nicolaus upped their price target on shares of Ero Copper from C$52.00 to C$53.00 and gave the stock a “hold” rating in a report on Tuesday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$49.27.

Ero Copper Price Performance

Ero Copper stock opened at C$42.59 on Tuesday. Ero Copper has a one year low of C$27.22 and a one year high of C$56.62. The business has a fifty day moving average price of C$49.29 and a 200-day moving average price of C$42.62. The company has a debt-to-equity ratio of 47.25, a current ratio of 1.37 and a quick ratio of 1.43. The firm has a market capitalization of C$4.44 billion, a P/E ratio of 14.44, a PEG ratio of -0.72 and a beta of 1.58.

Ero Copper (TSE:ERO) last announced its quarterly earnings results on Monday, November 2nd. The company reported C$1.74 earnings per share for the quarter. Ero Copper had a return on equity of 30.09% and a net margin of 29.72%. The firm had revenue of C$495.47 million for the quarter. As a group, equities research analysts forecast that Ero Copper will post 4.74 EPS for the current year.

About Ero Copper

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.