Canaccord Genuity Group Forecasts Strong Price Appreciation for Ero Copper (TSE:ERO) Stock

Ero Copper (TSE:ERO) had its price objective upped by analysts at Canaccord Genuity Group from C$48.00 to C$52.00 in a report issued on Wednesday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 10.52% from the stock’s previous close.

ERO has been the subject of a number of other reports. TD Securities lifted their price target on Ero Copper from C$33.00 to C$45.00 in a report on Thursday, January 22nd. Freedom Capital upgraded Ero Copper to a “strong-buy” rating in a report on Tuesday, December 30th. ATB Cormark Capital Markets increased their target price on shares of Ero Copper from C$37.00 to C$50.00 and gave the stock a “moderate buy” rating in a report on Friday, February 6th. Canadian Imperial Bank of Commerce lifted their price objective on Ero Copper from C$42.00 to C$52.00 in a report on Wednesday, February 4th. Finally, Ventum Financial raised shares of Ero Copper to a “strong-buy” rating in a research note on Monday, November 3rd. Two equities research 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’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$44.54.

Ero Copper Price Performance

ERO opened at C$47.05 on Wednesday. The company has a market capitalization of C$4.89 billion, a P/E ratio of 35.38, a P/E/G ratio of -0.72 and a beta of 1.99. The firm’s fifty day moving average price is C$42.33 and its two-hundred day moving average price is C$32.82. 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 current ratio of 0.68 and a quick ratio of 1.43.

Insiders Place Their Bets

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