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

Ero Copper (TSE:ERO) had its target price increased by equities researchers at CIBC from C$42.00 to C$52.00 in a note issued to investors on Wednesday,BayStreet.CA reports. CIBC’s price objective would indicate a potential upside of 20.43% from the company’s previous close.

Several other equities research analysts have also recently weighed in on ERO. Canaccord Genuity Group raised shares of Ero Copper from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 14th. Jefferies Financial Group downgraded shares of Ero Copper from a “buy” rating to a “hold” rating and boosted their price objective for the stock from C$37.00 to C$40.00 in a research note on Monday, December 8th. National Bankshares upped their target price on Ero Copper from C$43.00 to C$56.00 in a report on Thursday, January 29th. TD Securities increased their target price on Ero Copper from C$33.00 to C$45.00 in a research report on Thursday, January 22nd. Finally, Freedom Capital raised Ero Copper to a “strong-buy” rating in a research report on Tuesday, December 30th. Three analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$41.30.

Ero Copper Price Performance

ERO opened at C$43.18 on Wednesday. The company has a market capitalization of C$4.49 billion, a price-to-earnings ratio of 32.47, a PEG ratio of -0.72 and a beta of 1.99. The company has a current ratio of 0.68, a quick ratio of 1.43 and a debt-to-equity ratio of 83.17. Ero Copper has a 12-month low of C$13.17 and a 12-month high of C$53.69. The business’s fifty day simple moving average is C$39.97 and its 200-day simple moving average is C$30.36.

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

Insider Activity

In other news, Director John H. Wright sold 15,000 shares of the stock in a transaction on Thursday, January 29th. The stock was sold at an average price of C$52.11, for a total transaction of C$781,650.00. Following the completion of the sale, the director owned 377,832 shares in the company, valued at approximately C$19,688,825.52. This represents a 3.82% decrease in their position. Insiders own 10.37% of the company’s stock.

Ero Copper Company Profile