Ero Copper (TSE:ERO) Price Target Raised to C$53.00 at Stifel Nicolaus

Ero Copper (TSE:ERO) had its price objective hoisted by Stifel Nicolaus from C$52.00 to C$53.00 in a report released on Tuesday morning,BayStreet.CA reports. Stifel Nicolaus currently has a hold rating on the stock.

A number of other research firms also recently weighed in on ERO. BMO Capital Markets upped their target price on Ero Copper from C$42.00 to C$48.00 in a research report on Wednesday, April 22nd. The Goldman Sachs Group downgraded Ero Copper from a “buy” rating to a “hold” rating and set a C$31.00 price objective on the stock. in a research note on Monday, April 13th. Scotiabank upped their price objective on Ero Copper from C$50.00 to C$55.00 and gave the company a “sector outperform” rating in a report on Monday, June 15th. Bank of America upgraded Ero Copper from a “neutral” rating to a “buy” rating and upped their price objective for the company from C$41.00 to C$49.00 in a report on Thursday, July 16th. Finally, National Bank Financial raised Ero Copper from a “hold” rating to a “strong-buy” rating and set a C$50.00 target price on the stock in a report on Tuesday, May 5th. Three equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, Ero Copper has an average rating of “Moderate Buy” and a consensus price target of C$47.40.

Ero Copper Price Performance

TSE ERO opened at C$37.93 on Tuesday. Ero Copper has a 12 month low of C$17.66 and a 12 month high of C$53.69. The company has a debt-to-equity ratio of 54.96, a current ratio of 1.30 and a quick ratio of 1.43. The firm has a market capitalization of C$3.96 billion, a PE ratio of 13.55, a P/E/G ratio of -0.72 and a beta of 1.78. The company’s 50 day simple moving average is C$38.57 and its 200 day simple moving average is C$39.85.

Insider Activity at Ero Copper

In other news, Director Lyle Braaten sold 10,000 shares of Ero Copper stock in a transaction on 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 owned 200,000 shares in the company, valued at approximately C$8,360,000. The trade was a 4.76% decrease in their ownership of the stock. 10.37% of the stock is currently owned by company insiders.

Ero Copper Company Profile

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.