Raymond James Sticks to Its Buy Rating for Ero Copper Corp (ERO)


Ero Copper Corp (ERO), the Materials sector company was revisited today, and remains undervalued for at least one analyst on the street. The company received a Buy rating from Raymond James’ analyst Farooq Hamed, with a C$17 price target.

According to TipRanks.com, Hamed ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -12.4% and a 36.8% success rate. Hamed covers the Basic Materials sector, focusing on stocks such as First Quantum Minerals Ltd, Detour Gold Corporation, and Hudbay Minerals Inc.

Ero Copper Corp has an analyst consensus of Moderate Buy, with a price target consensus of C$17.17.

Based on Ero Copper Corp’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$12.75 million. In comparison, last year the company had a GAAP net loss of C$5.17 million.

Ero Copper Corp. engages in the exploration, development, and mining of mineral properties in Brazil. It also produces and sells copper, gold, silver products, The company was founded on May 16, 2016 and is headquartered in Vancouver, Canada.

The company’s shares closed on Monday at C$16, close to its 52-week high of C$17.75.

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