Royal Bank Of Canada Issues Positive Forecast for Ero Copper (TSE:ERO) Stock Price

Ero Copper (TSE:ERO) had its price objective lifted by Royal Bank Of Canada from C$52.00 to C$53.00 in a research report report published on Tuesday morning,BayStreet.CA reports.

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

Ero Copper Price Performance

Shares of Ero Copper stock opened at C$37.93 on Tuesday. The business’s fifty day moving average price is C$38.57 and its 200 day moving average price is C$39.85. Ero Copper has a twelve month low of C$17.66 and a twelve month high of C$53.69. The company has a current ratio of 1.30, a quick ratio of 1.43 and a debt-to-equity ratio of 54.96. The stock has a market capitalization of C$3.96 billion, a P/E ratio of 13.55, a PEG ratio of -0.72 and a beta of 1.78.

Insider Activity at Ero Copper

In other news, Director Lyle Braaten sold 10,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of C$41.80, for a total value of C$418,000.00. Following the completion of the sale, the director owned 200,000 shares of the company’s stock, valued at C$8,360,000. This represents a 4.76% decrease in their ownership of the stock. 10.37% of the stock is currently owned by corporate 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.