Canaccord Genuity Group Raises Ero Copper (TSE:ERO) Price Target to C$39.00

Ero Copper (TSE:ERO) had its target price increased by Canaccord Genuity Group from C$36.00 to C$39.00 in a research report report published on Monday, BayStreet.CA reports.

Several other research firms have also recently commented on ERO. Cormark boosted their price target on shares of Ero Copper from C$30.00 to C$32.50 in a report on Friday, May 10th. Raymond James boosted their price target on shares of Ero Copper from C$30.00 to C$34.00 in a report on Thursday, May 23rd. TD Securities boosted their price target on shares of Ero Copper from C$30.00 to C$31.00 in a report on Monday. CIBC upgraded shares of Ero Copper from a neutral rating to an outperform rating and boosted their price target for the stock from C$32.00 to C$36.00 in a report on Thursday, June 20th. Finally, Ventum Financial cut shares of Ero Copper from a buy rating to a neutral rating and boosted their price target for the stock from C$31.50 to C$33.00 in a report on Tuesday, May 28th. Seven equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of C$34.04.

Ero Copper Price Performance

Shares of ERO opened at C$26.37 on Monday. Ero Copper has a fifty-two week low of C$15.72 and a fifty-two week high of C$32.89. The firm’s 50 day moving average price is C$29.25 and its 200 day moving average price is C$26.11. The company has a market cap of C$2.72 billion, a P/E ratio of 29.63, a PEG ratio of -0.72 and a beta of 2.12. 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 (TSE:ERO) last announced its earnings results on Tuesday, May 7th. The company reported C$0.22 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of C$141.98 million. On average, research analysts forecast that Ero Copper will post 2.2548878 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Lyle Braaten sold 5,000 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of C$29.45, for a total transaction of C$147,232.50. Insiders sold a total of 16,208 shares of company stock worth $464,151 in the last 90 days. Company insiders own 10.93% of the company’s stock.

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.