National Bank Financial Issues Pessimistic Forecast for Ero Copper (TSE:ERO) Stock Price

Ero Copper (TSE:ERO) had its price objective reduced by investment analysts at National Bank Financial from C$56.00 to C$53.50 in a note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. National Bank Financial’s price objective would indicate a potential upside of 13.71% from the company’s previous close.

ERO has been the topic of several other reports. Scotiabank boosted their target price on shares of Ero Copper from C$36.00 to C$45.00 in a report on Thursday, January 8th. Jefferies Financial Group decreased their price target on shares of Ero Copper from C$45.00 to C$38.00 in a report on Friday, February 6th. TD Securities boosted their price objective on shares of Ero Copper from C$33.00 to C$45.00 in a research note on Thursday, January 22nd. Bank of America lowered Ero Copper from a “buy” rating to a “neutral” rating and cut their target price for the stock from C$49.00 to C$45.00 in a research report on Monday, February 9th. Finally, Canaccord Genuity Group upgraded Ero Copper from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 14th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$44.54.

Ero Copper Stock Performance

TSE ERO opened at C$47.05 on Wednesday. The business’s 50-day moving average price is C$42.33 and its 200 day moving average price is C$32.82. The company has a current ratio of 0.68, a quick ratio of 1.43 and a debt-to-equity ratio of 83.17. Ero Copper has a twelve month low of C$13.17 and a twelve month high of C$53.69. The company has a market capitalization of C$4.89 billion, a PE ratio of 35.38, a price-to-earnings-growth ratio of -0.72 and a beta of 1.99.

Insider Buying and Selling at Ero Copper

In related news, Director John H. Wright sold 15,000 shares of the company’s stock in a transaction 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 completion of the sale, the director directly owned 377,832 shares of the company’s stock, valued at approximately C$19,688,825.52. This represents a 3.82% 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.