Raymond James Financial Raises Ero Copper (TSE:ERO) Price Target to C$40.00

Ero Copper (TSE:ERO) had its price target lifted by Raymond James Financial from C$33.00 to C$40.00 in a research note issued on Tuesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Raymond James Financial’s price target would suggest a potential upside of 13.80% from the stock’s previous close.

ERO has been the topic of several other research reports. Jefferies Financial Group increased their price target on shares of Ero Copper from C$34.00 to C$37.00 in a research report on Friday, October 17th. Canaccord Genuity Group cut Ero Copper from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 17th. Desjardins decreased their target price on Ero Copper from C$25.00 to C$23.00 and set a “hold” rating for the company in a research report on Tuesday, August 5th. Stifel Canada downgraded Ero Copper from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. Finally, TD Securities lowered Ero Copper from a “buy” rating to a “hold” rating and upped their price target for the company from C$24.00 to C$33.00 in a research report on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of C$33.10.

Ero Copper Stock Performance

Ero Copper stock opened at C$35.15 on Tuesday. Ero Copper has a 52 week low of C$13.17 and a 52 week high of C$37.35. The company has a current ratio of 0.68, a quick ratio of 1.43 and a debt-to-equity ratio of 83.17. The stock has a market cap of C$3.65 billion, a P/E ratio of 26.43, a price-to-earnings-growth ratio of -0.72 and a beta of 1.59. The stock has a 50 day moving average of C$30.66 and a 200-day moving average of C$24.16.

Ero Copper (TSE:ERO) last posted its quarterly earnings results on Tuesday, November 4th. The company reported C$0.27 earnings per share (EPS) for the quarter. Ero Copper had a net margin of 3.45% and a return on equity of 2.24%. The firm had revenue of C$246.59 million for the quarter. On average, analysts expect that Ero Copper will post 4.7442244 EPS for the current fiscal year.

About Ero Copper

Ero Copper Corp is a base metals mining company. It is focused on the production and sale of copper from the Vale do Curaca Property in Brazil, with gold and silver produced and sold as by-products from the same. Ero’s operations are segmented between MCSA, NX Gold, and corporate. Ore is processed using conventional crushing and flotation at the Caraiba Mill, located adjacent to the Pilar underground mine.