Ero Copper (TSE:ERO) Price Target Increased to C$32.00 by Analysts at Jefferies Financial Group

Ero Copper (TSE:ERO) had its price target increased by equities research analysts at Jefferies Financial Group from C$29.00 to C$32.00 in a note issued to investors on Friday, BayStreet.CA reports. Jefferies Financial Group’s price objective indicates a potential upside of 2.24% from the company’s current price.

Several other research firms have also weighed in on ERO. Ventum Financial lowered shares of Ero Copper from a “buy” rating to a “neutral” rating and boosted their target price for the company from C$31.50 to C$33.00 in a research note on Tuesday, May 28th. Scotiabank upgraded shares of Ero Copper from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from C$32.00 to C$40.00 in a research report on Thursday, May 30th. CIBC upgraded shares of Ero Copper from a “neutral” rating to an “outperform” rating and upped their price target for the stock from C$32.00 to C$36.00 in a research report on Thursday, June 20th. Cormark upped their price target on shares of Ero Copper from C$30.00 to C$32.50 in a research report on Friday, May 10th. Finally, National Bankshares lowered their price target on shares of Ero Copper from C$33.50 to C$32.50 and set a “sector perform” rating for the company in a research report on Monday, June 10th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Ero Copper currently has an average rating of “Hold” and an average target price of C$33.15.

Ero Copper Stock Performance

ERO stock traded up C$1.35 during trading on Friday, hitting C$31.30. 189,262 shares of the company’s stock traded hands, compared to its average volume of 306,060. The company has a quick ratio of 1.43, a current ratio of 0.82 and a debt-to-equity ratio of 62.41. Ero Copper has a 52 week low of C$15.72 and a 52 week high of C$32.89. The stock has a fifty day moving average price of C$29.47 and a two-hundred day moving average price of C$25.66. The stock has a market capitalization of C$3.22 billion, a price-to-earnings ratio of 35.03, a price-to-earnings-growth ratio of -0.72 and a beta of 2.12.

Ero Copper (TSE:ERO) last released its earnings results on Tuesday, May 7th. The company reported C$0.22 earnings per share for the quarter, beating the consensus estimate of C$0.07 by C$0.15. Ero Copper had a net margin of 14.23% and a return on equity of 9.21%. The firm had revenue of C$142.63 million during the quarter, compared to analyst estimates of C$141.98 million. As a group, equities analysts anticipate that Ero Copper will post 2.2548878 EPS for the current fiscal year.

Insider Buying and Selling at Ero Copper

In other Ero Copper news, Director Lyle Braaten sold 5,000 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of C$29.45, for a total transaction of C$147,232.50. In the last three months, insiders sold 16,208 shares of company stock valued at $464,151. 10.93% of the stock is owned by insiders.

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.