Ero Copper (TSE:ERO) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Ero Copper (TSE:ERO) had its target price upped by Royal Bank Of Canada from C$52.00 to C$53.00 in a research note issued on Tuesday,BayStreet.CA reports. Royal Bank Of Canada’s target price indicates a potential upside of 39.14% from the company’s previous close.

A number of other research analysts have also recently weighed in on ERO. The Goldman Sachs Group cut Ero Copper from a “buy” rating to a “hold” rating and set a C$31.00 price objective on the stock. in a research report on Monday, April 13th. Scotiabank upped their price target on shares of Ero Copper from C$50.00 to C$55.00 and gave the stock a “sector outperform” rating in a research 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 stock from C$41.00 to C$49.00 in a research note on Thursday, July 16th. TD decreased their price objective on shares of Ero Copper from C$47.00 to C$44.00 and set a “hold” rating on the stock in a research report on Tuesday, July 14th. Finally, National Bank Financial upgraded shares of Ero Copper from a “hold” rating to a “strong-buy” rating and set a C$50.00 target price on the stock in a research note on Tuesday, May 5th. Three 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$47.40.

Ero Copper Price Performance

Shares of Ero Copper stock opened at C$38.09 on Tuesday. Ero Copper has a one year low of C$17.66 and a one year high of C$53.69. The stock’s fifty day moving average is C$38.48 and its 200 day moving average is C$39.85. The stock has a market cap of C$3.97 billion, a P/E ratio of 13.60, a P/E/G ratio of -0.72 and a beta of 1.78. The company has a debt-to-equity ratio of 54.96, a quick ratio of 1.43 and a current ratio of 1.30.

Insider Transactions at Ero Copper

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