Ero Copper (TSE:ERO) Cut to Hold at The Goldman Sachs Group

The Goldman Sachs Group downgraded shares of Ero Copper (TSE:ERO) from a buy rating to a hold rating in a research note issued to investors on Monday morning, Marketbeat.com reports. They currently have C$31.00 target price on the stock.

Several other analysts also recently weighed in on ERO. Jefferies Financial Group decreased their price objective on Ero Copper from C$45.00 to C$38.00 in a report on Friday, February 6th. TD lifted their price objective on Ero Copper from C$45.00 to C$47.00 and gave the company a “hold” rating in a report on Friday, April 10th. Scotiabank lifted their price objective on Ero Copper from C$36.00 to C$45.00 in a report on Thursday, January 8th. ATB Cormark Capital Markets lifted their price objective on Ero Copper from C$37.00 to C$50.00 and gave the company a “moderate buy” rating in a report on Friday, February 6th. Finally, Bank of America downgraded Ero Copper from a “buy” rating to a “neutral” rating and decreased their price objective for the company from C$49.00 to C$45.00 in a report on Monday, February 9th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$43.50.

Ero Copper Stock Performance

ERO stock opened at C$40.88 on Monday. The company has a debt-to-equity ratio of 67.59, a current ratio of 1.06 and a quick ratio of 1.43. The business has a 50-day moving average price of C$39.87 and a 200 day moving average price of C$36.98. The company has a market capitalization of C$4.26 billion, a P/E ratio of 16.16, a PEG ratio of -0.72 and a beta of 1.93. Ero Copper has a 1-year low of C$14.35 and a 1-year high of C$53.69.

Ero Copper (TSE:ERO) last released its quarterly earnings data on Thursday, March 5th. The company reported C$1.43 earnings per share for the quarter. The firm had revenue of C$430.18 million during the quarter. Ero Copper had a return on equity of 31.58% and a net margin of 33.50%. As a group, equities research analysts forecast that Ero Copper will post 4.7442244 EPS for the current fiscal year.

Insider Buying and Selling

In other Ero Copper news, Director John H. Wright sold 15,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director directly owned 377,832 shares in the company, valued at approximately C$19,688,825.52. The trade was a 3.82% decrease in their ownership of the stock. Corporate insiders own 10.37% of the company’s stock.

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.