Desjardins Forecasts Strong Price Appreciation for Ero Copper (TSE:ERO) Stock

Ero Copper (TSE:ERO) had its price target hoisted by Desjardins from C$37.50 to C$45.00 in a research note issued to investors on Monday,BayStreet.CA reports. The brokerage presently has a “hold” rating on the stock. Desjardins’ target price indicates a potential downside of 6.33% from the company’s previous close.

Several other research analysts have also recently issued reports on ERO. Jefferies Financial Group cut shares of Ero Copper from a “buy” rating to a “hold” rating and raised their target price for the stock from C$37.00 to C$40.00 in a report on Monday, December 8th. CIBC lifted their price objective on Ero Copper from C$37.00 to C$42.00 in a research note on Friday, December 5th. National Bankshares boosted their price objective on Ero Copper from C$27.00 to C$35.00 and gave the company a “sector perform” rating in a report on Wednesday, October 8th. Cibc World Mkts lowered Ero Copper from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Finally, TD Securities lifted their price target on Ero Copper from C$33.00 to C$45.00 in a research report on Thursday, January 22nd. Three investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, Ero Copper currently has an average rating of “Moderate Buy” and a consensus target price of C$38.20.

Ero Copper Price Performance

Shares of ERO opened at C$48.04 on Monday. The company has a 50 day moving average of C$37.77 and a two-hundred day moving average of C$29.13. The company has a quick ratio of 1.43, a current ratio of 0.68 and a debt-to-equity ratio of 83.17. Ero Copper has a twelve month low of C$13.17 and a twelve month high of C$48.15. The company has a market cap of C$4.99 billion, a price-to-earnings ratio of 36.12, a price-to-earnings-growth ratio of -0.72 and a beta of 1.97.

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

Ero Copper Company Profile