Ero Copper (TSE:ERO) Issues Quarterly Earnings Results

by · The Cerbat Gem

Ero Copper (TSE:ERO – Get Free Report) issued its quarterly earnings data on Monday. The company reported C$1.57 earnings per share for the quarter, FiscalAI reports. The firm had revenue of C$495.47 million for the quarter. Ero Copper had a net margin of 29.72% and a return on equity of 30.09%.

Ero Copper Price Performance

TSE ERO traded up C$0.09 on Monday, reaching C$40.76. The company’s stock had a trading volume of 621,249 shares, compared to its average volume of 490,811. Ero Copper has a 52 week low of C$27.22 and a 52 week high of C$56.62. The company has a current ratio of 1.37, a quick ratio of 1.43 and a debt-to-equity ratio of 47.25. The firm has a market cap of C$4.25 billion, a PE ratio of 13.82, a price-to-earnings-growth ratio of -0.72 and a beta of 1.58. The business has a 50-day moving average price of C$49.78 and a 200 day moving average price of C$42.63.

Analyst Upgrades and Downgrades

ERO has been the topic of several analyst reports. Stifel Nicolaus increased their price target on shares of Ero Copper from C$52.00 to C$53.00 and gave the stock a “hold” rating in a research note on Tuesday, July 21st. Canadian Imperial Bank of Commerce raised their price objective on shares of Ero Copper from C$52.00 to C$56.00 in a research note on Wednesday, September 23rd. National Bank Financial raised their price objective on Ero Copper from C$52.50 to C$55.00 and gave the stock an “outperform” rating in a research report on Monday, September 21st. TD upped their target price on Ero Copper from C$44.00 to C$45.00 and gave the company a “hold” rating in a research note on Friday, August 7th. Finally, BMO Capital Markets restated an “outperform” rating and issued a C$52.00 target price on shares of Ero Copper in a research note on Monday, September 21st. The rating follows a visit to ERO Copper’s operations after the company’s investor day. Matthew Murphy noted progress across the company’s assets. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, Ero Copper currently has an average rating of “Moderate Buy” and an average target price of C$48.67.

Read Our Latest Stock Report on ERO

About Ero Copper

(Get Free Report)

Ero is a Brazil -focused, growth-oriented mining company with a diversified portfolio of copper and gold assets. Headquartered in Vancouver, B.C., the Company operates two copper mines – the Caraíba Operations in Bahia State and the Tucumã Operation in Pará State – as well as the Xavantina Operations, a producing gold mine in Mato Grosso State. In addition to its operating assets, Ero is advancing the Furnas Copper-Gold Project, located in the mineral-rich Carajás Province in Pará State, through a definitive earn-in agreement with Vale Base Metals to acquire a 60% interest in the project.

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