Ero Copper (TSE:ERO) Upgraded to “Buy” at Bank of America

Bank of America upgraded shares of Ero Copper (TSE:ERO) from a neutral rating to a buy rating in a research note issued to investors on Thursday morning,BayStreet.CA reports. Bank of America currently has C$49.00 price objective on the stock, up from their previous price objective of C$41.00.

ERO has been the subject of several other reports. The Goldman Sachs Group cut shares of Ero Copper from a “buy” rating to a “hold” rating and set a C$31.00 price objective for the company. in a report on Monday, April 13th. Scotiabank raised their target price on shares of Ero Copper from C$50.00 to C$55.00 and gave the stock a “sector outperform” rating in a report on Monday, June 15th. Jefferies Financial Group decreased their target price on shares of Ero Copper from C$42.00 to C$39.00 in a research note on Monday. TD lowered their price target on Ero Copper from C$47.00 to C$44.00 and set a “hold” rating on the stock in a report on Tuesday. Finally, National Bank Financial upgraded 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 note on Tuesday, May 5th. Three analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eight have issued 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$45.86.

Ero Copper Trading Down 3.0%

Ero Copper stock opened at C$34.48 on Thursday. The company has a debt-to-equity ratio of 54.96, a current ratio of 1.30 and a quick ratio of 1.43. Ero Copper has a one year low of C$17.66 and a one year high of C$53.69. The stock has a market capitalization of C$3.60 billion, a PE ratio of 12.31, a price-to-earnings-growth ratio of -0.72 and a beta of 1.78. The business’s fifty day moving average is C$38.87 and its 200 day moving average is C$39.91.

Insider Activity at Ero Copper

In other news, Director Lyle Braaten sold 10,000 shares of the company’s stock in a transaction on 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 directly owned 200,000 shares in the company, valued at C$8,360,000. This represents a 4.76% decrease in their position. 10.37% of the stock is owned by company insiders.

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.