Ero Copper (TSE:ERO) Price Target Cut to C$53.50 by Analysts at National Bank Financial

Ero Copper (TSE:ERO) had its price objective cut by National Bank Financial from C$56.00 to C$53.50 in a research note published on Wednesday morning,BayStreet.CA reports. They currently have a sector perform rating on the stock.

Several other analysts have also recently commented on ERO. Ventum Financial upgraded Ero Copper to a “strong-buy” rating in a research report on Monday, November 3rd. ATB Cormark Capital Markets increased their price target on Ero Copper from C$37.00 to C$50.00 and gave the stock a “moderate buy” rating in a research note on Friday, February 6th. Canadian Imperial Bank of Commerce lifted their price objective on shares of Ero Copper from C$42.00 to C$52.00 in a research note on Wednesday, February 4th. Bank of America downgraded shares of Ero Copper from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from C$49.00 to C$45.00 in a report on Monday, February 9th. Finally, Raymond James Financial lowered shares of Ero Copper from a “buy” rating to a “hold” rating and decreased their target price for the company from C$49.00 to C$45.00 in a research report on Monday, February 9th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, Ero Copper currently has a consensus rating of “Moderate Buy” and a consensus price target of C$44.54.

Ero Copper Price Performance

TSE ERO opened at C$47.05 on Wednesday. The company has a 50-day moving average price of C$42.09 and a two-hundred day moving average price of C$32.72. Ero Copper has a 52 week low of C$13.17 and a 52 week high of C$53.69. The stock has a market cap of C$4.89 billion, a price-to-earnings ratio of 35.38, a price-to-earnings-growth ratio of -0.72 and a beta of 1.99. The company has a current ratio of 0.68, a quick ratio of 1.43 and a debt-to-equity ratio of 83.17.

Insider Activity

In related news, Director John H. Wright sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of C$52.11, for a total value of C$781,650.00. Following the sale, the director directly owned 377,832 shares in the company, valued at C$19,688,825.52. The trade was a 3.82% decrease in their position. 10.37% of the stock is owned by corporate insiders.

About Ero Copper

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.