Ero Copper (TSE:ERO) Price Target Cut to C$16.50

Ero Copper (TSE:EROGet Rating) had its price objective reduced by research analysts at TD Securities from C$17.00 to C$16.50 in a report released on Thursday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD Securities’ target price indicates a potential upside of 35.14% from the stock’s previous close.

Several other analysts have also recently commented on ERO. National Bankshares reduced their target price on shares of Ero Copper from C$16.50 to C$16.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 19th. Scotiabank reduced their target price on shares of Ero Copper from C$20.00 to C$19.00 in a research note on Thursday. Raymond James cut their price target on shares of Ero Copper from C$22.00 to C$18.00 and set an “outperform” rating for the company in a report on Tuesday, July 19th. Cormark cut their price target on shares of Ero Copper from C$28.50 to C$25.00 and set a “buy” rating for the company in a report on Wednesday, May 11th. Finally, BMO Capital Markets cut their price target on shares of Ero Copper from C$25.00 to C$22.00 in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Ero Copper currently has a consensus rating of “Moderate Buy” and an average price target of C$21.45.

Ero Copper Stock Up 9.8 %

ERO stock opened at C$12.21 on Thursday. Ero Copper has a one year low of C$10.54 and a one year high of C$25.83. The stock has a market capitalization of C$1.11 billion and a PE ratio of 3.86. The company has a debt-to-equity ratio of 16.78, a quick ratio of 1.43 and a current ratio of 1.70. The company has a fifty day moving average of C$12.40 and a 200-day moving average of C$15.72.

Ero Copper (TSE:EROGet Rating) last released its earnings results on Monday, May 9th. The company reported C$0.46 EPS for the quarter, missing the consensus estimate of C$0.51 by C($0.05). The firm had revenue of C$137.96 million for the quarter. As a group, analysts expect that Ero Copper will post 2.04 EPS for the current year.

Insider Buying and Selling at Ero Copper

In other Ero Copper news, Director John H. Wright bought 6,000 shares of the company’s stock in a transaction on Friday, May 13th. The stock was purchased at an average cost of C$13.70 per share, for a total transaction of C$82,200.00. Following the acquisition, the director now owns 786,332 shares of the company’s stock, valued at approximately C$10,772,748.40.

Ero Copper Company Profile

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Ero Copper Corp., a base metals mining company, engages in the exploration, development, and production of mining projects in Brazil. It engages in the production and sale of copper concentrate from the MCSA Mining Complex located within the Curaçá Valley, northeastern Bahia state, as well as gold and silver byproducts.

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