Stifel Nicolaus Forecasts Strong Price Appreciation for Ero Copper (TSE:ERO) Stock

Ero Copper (TSE:ERO) had its price target raised by analysts at Stifel Nicolaus from C$52.00 to C$53.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ price target would indicate a potential upside of 39.14% from the company’s previous close.

ERO has been the topic of several other reports. National Bank Financial upgraded Ero Copper from a “hold” rating to a “strong-buy” rating and set a C$50.00 price objective on the stock in a report on Tuesday, May 5th. Jefferies Financial Group cut their price target on Ero Copper from C$42.00 to C$39.00 in a research note on Monday, July 13th. TD lowered 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 note on Tuesday, July 14th. Royal Bank Of Canada increased their target price on shares of Ero Copper from C$52.00 to C$53.00 in a report on Tuesday. Finally, Bank of America raised shares of Ero Copper from a “neutral” rating to a “buy” rating and upped their price target for the stock from C$41.00 to C$49.00 in a research report on Thursday, July 16th. Three investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, Ero Copper presently has a consensus rating of “Moderate Buy” and a consensus target price of C$47.40.

Ero Copper Stock Performance

Ero Copper stock opened at C$38.09 on Tuesday. The company has a 50 day moving average price of C$38.48 and a 200-day moving average price of C$39.85. The company has a debt-to-equity ratio of 54.96, a quick ratio of 1.43 and a current ratio of 1.30. Ero Copper has a fifty-two week low of C$17.66 and a fifty-two week high of C$53.69. The company has a market capitalization of C$3.97 billion, a PE ratio of 13.60, a P/E/G ratio of -0.72 and a beta of 1.78.

Insider Buying and Selling at Ero Copper

In related news, Director Lyle Braaten sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of C$41.80, for a total transaction of C$418,000.00. Following the sale, the director owned 200,000 shares of the company’s stock, valued at C$8,360,000. This trade represents a 4.76% decrease in their ownership of the stock. 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.