Ero Copper Corp. (TSE:ERO) Receives Consensus Rating of “Moderate Buy” from Brokerages

Ero Copper Corp. (TSE:ERO) has been assigned a consensus recommendation of “Moderate Buy” from the sixteen research firms that are currently covering the stock, Marketbeat.com reports. Nine research analysts have rated the stock with a hold rating, four have issued a buy rating and three have issued a strong buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is C$45.71.

ERO has been the topic of a number of analyst reports. The Goldman Sachs Group lowered Ero Copper from a “buy” rating to a “hold” rating and set a C$31.00 price target on the stock. in a research report on Monday, April 13th. Canaccord Genuity Group lifted their price objective on Ero Copper from C$48.00 to C$52.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. National Bank Financial upgraded Ero Copper from a “hold” rating to a “strong-buy” rating and set a C$50.00 target price on the stock in a report on Tuesday, May 5th. BMO Capital Markets increased their target price on shares of Ero Copper from C$42.00 to C$48.00 in a research report on Wednesday, April 22nd. Finally, Scotiabank raised their price target on shares of Ero Copper from C$50.00 to C$55.00 and gave the stock a “sector outperform” rating in a report on Monday, June 15th.

Ero Copper Stock Performance

Shares of TSE ERO opened at C$42.35 on Wednesday. The company has a debt-to-equity ratio of 54.96, a quick ratio of 1.43 and a current ratio of 1.30. Ero Copper has a 52-week low of C$17.66 and a 52-week high of C$53.69. The firm has a 50 day moving average price of C$39.50 and a two-hundred day moving average price of C$39.72. The stock has a market cap of C$4.42 billion, a P/E ratio of 15.13, a price-to-earnings-growth ratio of -0.72 and a beta of 1.77.

Ero Copper (TSE:ERO) last issued its quarterly earnings results on Thursday, March 5th. The company reported C$1.43 EPS for the quarter. The company had revenue of C$430.18 million for the quarter. Ero Copper had a net margin of 31.55% and a return on equity of 31.19%. As a group, equities analysts forecast that Ero Copper will post 4.7442244 EPS for the current year.

Insiders Place Their Bets

In related news, Director Lyle Braaten sold 10,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of C$41.80, for a total value of C$418,000.00. Following the transaction, the director owned 200,000 shares in the company, valued at C$8,360,000. The trade was a 4.76% decrease in their ownership of the stock. 10.37% of the stock is owned by corporate insiders.

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.