Ero Copper (TSE:ERO) Price Target Increased to C$34.00 by Analysts at Canaccord Genuity Group

Ero Copper (TSE:ERO) had its price target boosted by research analysts at Canaccord Genuity Group from C$26.00 to C$34.00 in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. Canaccord Genuity Group’s target price would suggest a potential upside of 23.82% from the stock’s previous close.

A number of other research analysts have also recently commented on the stock. Raymond James increased their price target on shares of Ero Copper from C$25.00 to C$26.00 in a research report on Wednesday, March 20th. Pi Financial cut Ero Copper from a “buy” rating to a “neutral” rating and raised their price objective for the company from C$24.00 to C$27.00 in a research note on Friday, March 8th. CIBC lowered their target price on Ero Copper from C$25.00 to C$24.00 and set a “neutral” rating for the company in a research note on Tuesday, February 27th. TD Securities raised their price target on Ero Copper from C$24.00 to C$25.00 and gave the stock a “hold” rating in a research report on Friday, March 8th. Finally, BMO Capital Markets lifted their price target on Ero Copper from C$23.00 to C$23.50 and gave the stock a “market perform” rating in a research note on Friday, March 8th. Nine analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Ero Copper currently has a consensus rating of “Hold” and a consensus price target of C$25.88.

Ero Copper Price Performance

Shares of Ero Copper stock traded down C$0.30 on Wednesday, hitting C$27.46. 223,392 shares of the company traded hands, compared to its average volume of 304,766. The company has a market cap of C$2.82 billion, a P/E ratio of 20.65, a P/E/G ratio of -0.72 and a beta of 2.14. The company has a current ratio of 1.15, a quick ratio of 1.43 and a debt-to-equity ratio of 55.09. Ero Copper has a 12-month low of C$15.72 and a 12-month high of C$32.12. The firm’s 50-day simple moving average is C$24.41 and its 200 day simple moving average is C$21.34.

Ero Copper (TSE:ERO) last posted its quarterly earnings data on Thursday, March 7th. The company reported C$0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.31 by C($0.02). The firm had revenue of C$158.50 million during the quarter, compared to analysts’ expectations of C$143.80 million. Ero Copper had a return on equity of 13.96% and a net margin of 21.71%. Analysts expect that Ero Copper will post 2.0165631 earnings per share for the current fiscal year.

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.