Ventum Cap Mkts upgraded shares of Ero Copper (TSE:ERO – Free Report) from a hold rating to a strong-buy rating in a research report sent to investors on Monday morning, Zacks.com reports.
Several other equities analysts also recently commented on the stock. Eight Capital increased their target price on shares of Ero Copper from C$30.00 to C$40.00 in a research report on Thursday, July 11th. Canaccord Genuity Group increased their target price on shares of Ero Copper from C$36.00 to C$39.00 in a research note on Monday. Scotiabank upgraded shares of Ero Copper from a sector perform rating to an outperform rating and increased their target price for the company from C$32.00 to C$40.00 in a research note on Thursday, May 30th. Cormark raised their price target on shares of Ero Copper from C$30.00 to C$32.50 in a research note on Friday, May 10th. Finally, Jefferies Financial Group raised their price objective on shares of Ero Copper from C$29.00 to C$32.00 in a report on Friday, July 12th. Seven analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Ero Copper currently has an average rating of Moderate Buy and a consensus price target of C$34.04.
Read Our Latest Research Report on ERO
Ero Copper Trading Down 2.5 %
Ero Copper (TSE:ERO – Get Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The company reported C$0.22 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.07 by C$0.15. The business had revenue of C$142.63 million for the quarter, compared to the consensus estimate of C$141.98 million. Ero Copper had a net margin of 14.23% and a return on equity of 9.21%. As a group, sell-side analysts anticipate that Ero Copper will post 2.2548878 earnings per share for the current fiscal year.
Insider Activity at Ero Copper
In other Ero Copper news, Director Lyle Braaten sold 5,000 shares of Ero Copper 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 valued at $464,151 over the last quarter. Corporate 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.
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