Ero Copper (TSE:ERO) Stock Rating Upgraded by Scotiabank

Ero Copper (TSE:ERO) was upgraded by research analysts at Scotiabank from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday, Zacks reports.

A number of other research firms have also commented on ERO. Canadian Imperial Bank of Commerce raised their price target on shares of Ero Copper from C$52.00 to C$56.00 in a research report on Wednesday, September 23rd. Royal Bank Of Canada boosted their price objective on shares of Ero Copper from C$52.00 to C$53.00 in a report on Tuesday, July 21st. BMO Capital Markets restated an “outperform” rating and set a C$52.00 target price on shares of Ero Copper in a research report on Monday, September 21st. The rating follows a visit to ERO Copper’s operations after the company’s investor day. Matthew Murphy noted progress across the company’s assets. Freedom Broker cut shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 3rd. Finally, Jefferies Financial Group lowered their target price on shares of Ero Copper from C$42.00 to C$39.00 in a report on Monday, July 13th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Ero Copper presently has a consensus rating of “Moderate Buy” and a consensus target price of C$49.27.

Ero Copper Stock Performance

Shares of TSE ERO opened at C$42.59 on Tuesday. 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 cap of C$4.44 billion, a price-to-earnings ratio of 14.44, a P/E/G ratio of -0.72 and a beta of 1.58. The stock’s fifty day moving average price is C$49.29 and its two-hundred day moving average price is C$42.62. Ero Copper has a one year low of C$27.22 and a one year high of C$56.62.

Ero Copper (TSE:ERO) last posted its earnings results on Monday, November 2nd. The company reported C$1.74 earnings per share for the quarter. The company had revenue of C$495.47 million during the quarter. Ero Copper had a return on equity of 30.09% and a net margin of 29.72%. On average, equities 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.