Ero Copper (TSE:ERO) Downgraded to Neutral Rating by Bank of America

Bank of America cut shares of Ero Copper (TSE:ERO) from a buy rating to a neutral rating in a research note published on Monday morning,BayStreet.CA reports. The brokerage currently has C$45.00 price objective on the stock, down from their prior price objective of C$49.00.

Several other equities research analysts have also commented on ERO. ATB Capital lifted their price target on shares of Ero Copper from C$37.00 to C$50.00 and gave the stock an “outperform” rating in a research note on Friday. Desjardins lifted their target price on Ero Copper from C$37.50 to C$45.00 and gave the stock a “hold” rating in a research report on Monday, January 26th. National Bankshares boosted their target price on Ero Copper from C$43.00 to C$56.00 in a report on Thursday, January 29th. Stifel Nicolaus cut Ero Copper from a “buy” rating to a “hold” rating and upped their target price for the company from C$26.00 to C$37.00 in a research report on Tuesday, October 21st. Finally, Atb Cormark Cm raised Ero Copper to a “moderate buy” rating in a research report on Friday. Three equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, Ero Copper currently has a consensus rating of “Moderate Buy” and a consensus target price of C$42.58.

Ero Copper Price Performance

Shares of TSE ERO opened at C$43.07 on Monday. The stock’s 50-day simple moving average is C$40.24 and its 200-day simple moving average is C$30.82. The firm has a market capitalization of C$4.47 billion, a PE ratio of 32.38, a price-to-earnings-growth ratio of -0.72 and a beta of 1.99. Ero Copper has a fifty-two week low of C$13.17 and a fifty-two week high of C$53.69. The company has a debt-to-equity ratio of 83.17, a quick ratio of 1.43 and a current ratio of 0.68.

Ero Copper (TSE:ERO) last announced its quarterly earnings results on Tuesday, November 4th. The company reported C$0.27 EPS for the quarter. Ero Copper had a net margin of 3.45% and a return on equity of 2.24%. The company had revenue of C$246.59 million for the quarter. As a group, equities research analysts forecast that Ero Copper will post 4.7442244 EPS for the current fiscal year.

Insiders Place Their Bets

In other Ero Copper news, Director John H. Wright sold 15,000 shares of Ero Copper stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of C$52.11, for a total value of C$781,650.00. Following the transaction, the director directly owned 377,832 shares in the company, valued at approximately C$19,688,825.52. This trade represents a 3.82% decrease in their position. Insiders own 10.37% of the company’s stock.

About Ero Copper