Ero Copper (TSE:ERO) Stock Rating Upgraded by Bank of America

Ero Copper (TSE:ERO) was upgraded by equities researchers at Bank of America from a “neutral” rating to a “buy” rating in a research note issued on Thursday,BayStreet.CA reports. The firm currently has a C$49.00 price objective on the stock, up from their prior price objective of C$41.00. Bank of America‘s target price indicates a potential upside of 44.59% from the company’s current price.

ERO has been the topic of several other reports. National Bank Financial upgraded shares of Ero Copper from a “hold” rating to a “strong-buy” rating and set a C$50.00 price objective on the stock in a research report on Tuesday, May 5th. TD dropped their target price on shares of Ero Copper from C$47.00 to C$44.00 and set a “hold” rating for the company in a research report on Tuesday. Jefferies Financial Group cut their price target on shares of Ero Copper from C$42.00 to C$39.00 in a research note on Monday, July 13th. BMO Capital Markets increased their price target on shares of Ero Copper from C$42.00 to C$48.00 in a report on Wednesday, April 22nd. Finally, The Goldman Sachs Group lowered shares of Ero Copper from a “buy” rating to a “hold” rating and set a C$31.00 price target on the stock. in a report on Monday, April 13th. Three analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$45.86.

Ero Copper Stock Performance

TSE:ERO opened at C$33.89 on Thursday. The stock has a market cap of C$3.53 billion, a P/E ratio of 12.10, a PEG ratio of -0.72 and a beta of 1.78. The company has a quick ratio of 1.43, a current ratio of 1.30 and a debt-to-equity ratio of 54.96. The business’s 50-day moving average price is C$38.77 and its two-hundred day moving average price is C$39.87. Ero Copper has a twelve month low of C$17.66 and a twelve month high of C$53.69.

Insider Activity

In other news, Director Lyle Braaten sold 10,000 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of C$41.80, for a total transaction of C$418,000.00. Following the transaction, the director directly owned 200,000 shares in the company, valued at approximately C$8,360,000. This represents a 4.76% decrease in their position. 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.