CIBC Raises Ero Copper (TSE:ERO) Price Target to C$28.50

Ero Copper (TSE:ERO) had its price objective hoisted by equities researchers at CIBC from C$24.00 to C$28.50 in a research note issued on Wednesday, BayStreet.CA reports. The firm presently has a “neutral” rating on the stock. CIBC’s price target indicates a potential upside of 1.82% from the company’s current price.

A number of other analysts have also recently issued reports on the company. Pi Financial cut Ero Copper from a “buy” rating to a “neutral” rating and upped their target price for the company from C$24.00 to C$27.00 in a research report on Friday, March 8th. Cormark increased their price objective on Ero Copper from C$23.50 to C$26.50 in a research report on Monday, March 11th. BMO Capital Markets increased their price objective on Ero Copper from C$23.00 to C$23.50 and gave the stock a “market perform” rating in a research report on Friday, March 8th. TD Securities increased their price objective 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, Canaccord Genuity Group increased their price objective on Ero Copper from C$26.00 to C$34.00 in a research report on Wednesday. Nine investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of C$25.88.

Ero Copper Trading Up 1.9 %

ERO opened at C$27.99 on Wednesday. Ero Copper has a one year low of C$15.72 and a one year high of C$32.12. The company has a market cap of C$2.88 billion, a P/E ratio of 20.65, a PEG ratio of -0.72 and a beta of 2.14. The company has a debt-to-equity ratio of 55.09, a quick ratio of 1.43 and a current ratio of 1.15. The business’s 50-day simple moving average is C$24.55 and its 200-day simple moving average is C$21.38.

Ero Copper (TSE:ERO) last announced its earnings results 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 analyst estimates of C$143.80 million. Ero Copper had a net margin of 21.71% and a return on equity of 13.96%. As a group, equities research analysts expect that Ero Copper will post 2.0165631 EPS 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.