Brokerages Set Ero Copper Corp. (TSE:ERO) Target Price at C$46.00

Shares of Ero Copper Corp. (TSE:ERO) have earned an average recommendation of “Moderate Buy” from the fifteen brokerages that are covering the firm, Marketbeat reports. Eight investment analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is C$45.86.

ERO has been the subject of several recent analyst reports. Jefferies Financial Group lowered their price target on Ero Copper from C$42.00 to C$39.00 in a report on Monday. Scotiabank upped their price objective on shares of 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 raised shares of Ero Copper from a “neutral” rating to a “buy” rating and increased their price objective for the company from C$41.00 to C$49.00 in a research report on Thursday. TD decreased their price objective on shares of Ero Copper from C$47.00 to C$44.00 and set a “hold” rating for the company in a research report on Tuesday. Finally, The Goldman Sachs Group cut shares of Ero Copper from a “buy” rating to a “hold” rating and set a C$31.00 target price for the company. in a research note on Monday, April 13th.

Insider Activity

In other Ero Copper news, Director Lyle Braaten sold 10,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of C$41.80, for a total value of C$418,000.00. Following the completion of the transaction, the director owned 200,000 shares of the company’s stock, valued at approximately C$8,360,000. This trade represents a 4.76% decrease in their ownership of the stock. Corporate insiders own 10.37% of the company’s stock.

Ero Copper Stock Down 3.0%

Ero Copper stock opened at C$34.48 on Friday. Ero Copper has a 1-year low of C$17.66 and a 1-year high of C$53.69. The business has a fifty day moving average price of C$38.87 and a 200-day moving average price of C$39.91. 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 stock has a market capitalization of C$3.60 billion, a price-to-earnings ratio of 12.31, a PEG ratio of -0.72 and a beta of 1.78.

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.