Ero Copper (TSE:ERO) Stock Rating Upgraded by Raymond James

Ero Copper (TSE:ERO) was upgraded by equities research analysts at Raymond James from a “market perform” rating to an “outperform” rating in a note issued to investors on Tuesday, BayStreet.CA reports. The firm presently has a C$36.00 price objective on the stock, up from their prior price objective of C$34.00. Raymond James’ price objective would suggest a potential upside of 38.09% from the company’s previous close.

Several other analysts also recently issued reports on the company. Eight Capital raised their price target on Ero Copper from C$30.00 to C$40.00 in a report on Thursday, July 11th. Ventum Cap Mkts upgraded Ero Copper from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 22nd. BMO Capital Markets upped their price target on shares of Ero Copper from C$41.00 to C$43.00 in a research report on Tuesday, July 23rd. National Bankshares lifted their price objective on shares of Ero Copper from C$32.50 to C$33.00 and gave the company a “sector perform” rating in a research report on Monday, July 15th. Finally, Canaccord Genuity Group upped their target price on shares of Ero Copper from C$36.00 to C$39.00 in a research report on Monday, July 22nd. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$33.77.

Ero Copper Price Performance

Shares of ERO opened at C$26.07 on Tuesday. Ero Copper has a 52 week low of C$15.72 and a 52 week high of C$32.89. The company has a current ratio of 0.68, a quick ratio of 1.43 and a debt-to-equity ratio of 82.63. The firm has a market cap of C$2.69 billion, a price-to-earnings ratio of -100.27, a PEG ratio of -0.72 and a beta of 1.98. The stock has a 50 day moving average of C$28.02 and a 200-day moving average of C$27.21.

Ero Copper (TSE:ERO) last released its quarterly earnings data on Thursday, August 1st. The company reported C$0.25 EPS for the quarter, topping analysts’ consensus estimates of C$0.23 by C$0.02. The firm had revenue of C$160.22 million during the quarter, compared to the consensus estimate of C$154.50 million. Ero Copper had a negative net margin of 4.79% and a negative return on equity of 3.08%.

Insiders Place Their Bets

In other news, Director Lyle Braaten sold 10,000 shares of the company’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of C$28.11, for a total value of C$281,053.00. Corporate insiders own 10.37% of the company’s stock.

Ero Copper Company Profile

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.