Ero Copper (TSE:ERO) Posts Earnings Results

Ero Copper (TSE:ERO) announced its earnings results on Wednesday. The company reported C$1.18 EPS for the quarter, FiscalAI reports. The firm had revenue of C$403.95 million for the quarter. Ero Copper had a return on equity of 31.19% and a net margin of 31.55%.

Ero Copper Trading Up 4.6%

Shares of ERO stock traded up C$1.89 during trading hours on Wednesday, reaching C$42.71. 595,510 shares of the stock traded hands, compared to its average volume of 502,297. The company has a quick ratio of 1.43, a current ratio of 1.30 and a debt-to-equity ratio of 54.96. The firm has a market capitalization of C$4.45 billion, a PE ratio of 15.25, a PEG ratio of -0.72 and a beta of 1.78. Ero Copper has a 1-year low of C$18.53 and a 1-year high of C$53.69. The business has a fifty day moving average price of C$38.35 and a 200 day moving average price of C$39.60.

Insiders Place Their Bets

In other Ero Copper 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 transaction of C$418,000.00. Following the sale, the director directly owned 200,000 shares of the company’s stock, valued at C$8,360,000. The trade was a 4.76% decrease in their position. Insiders own 10.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ERO. The Goldman Sachs Group downgraded Ero Copper from a “buy” rating to a “hold” rating and set a C$31.00 price objective on the stock. in a research note on Monday, April 13th. National Bank Financial raised shares of Ero Copper from a “hold” rating to a “strong-buy” rating and set a C$50.00 price target for the company in a report on Tuesday, May 5th. Bank of America raised shares of Ero Copper from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from C$41.00 to C$49.00 in a research note on Thursday, July 16th. Stifel Nicolaus increased their target price on shares of Ero Copper from C$52.00 to C$53.00 and gave the company a “hold” rating in a research note on Tuesday, July 21st. Finally, Royal Bank Of Canada lifted their price target on shares of Ero Copper from C$52.00 to C$53.00 in a research report on Tuesday, July 21st. Three analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, Ero Copper has a consensus rating of “Moderate Buy” and a consensus target price of C$47.40.

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.