Ero Copper (TSE:ERO) Lowered to “Hold” Rating by The Goldman Sachs Group

The Goldman Sachs Group lowered shares of Ero Copper (TSE:ERO) from a buy rating to a hold rating in a research note issued to investors on Monday morning, Marketbeat.com reports. The brokerage currently has C$31.00 target price on the stock.

Other equities analysts also recently issued reports about the stock. Scotiabank increased their price objective on shares of Ero Copper from C$36.00 to C$45.00 in a research note on Thursday, January 8th. TD increased their price objective on shares of Ero Copper from C$45.00 to C$47.00 and gave the stock a “hold” rating in a research note on Friday, April 10th. TD Securities increased their price objective on shares of Ero Copper from C$33.00 to C$45.00 in a research note on Thursday, January 22nd. Desjardins increased their price objective on shares of Ero Copper from C$37.50 to C$45.00 and gave the stock a “hold” rating in a research note on Monday, January 26th. Finally, Canaccord Genuity Group increased their price objective on shares of Ero Copper from C$48.00 to C$52.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, Ero Copper presently has a consensus rating of “Moderate Buy” and a consensus target price of C$43.75.

Ero Copper Stock Down 1.5%

TSE ERO traded down C$0.61 on Monday, reaching C$40.74. The company had a trading volume of 28,048 shares, compared to its average volume of 537,882. The firm has a market capitalization of C$4.25 billion, a price-to-earnings ratio of 16.10, a price-to-earnings-growth ratio of -0.72 and a beta of 1.93. The company has a debt-to-equity ratio of 67.59, a quick ratio of 1.43 and a current ratio of 1.06. Ero Copper has a 1-year low of C$14.35 and a 1-year high of C$53.69. The company’s fifty day moving average is C$40.02 and its 200-day moving average is C$36.96.

Ero Copper (TSE:ERO) last posted its quarterly earnings data on Thursday, March 5th. The company reported C$1.43 EPS for the quarter. Ero Copper had a net margin of 33.50% and a return on equity of 31.58%. The company had revenue of C$430.18 million during the quarter. On average, research analysts forecast that Ero Copper will post 4.7442244 earnings per share for the current fiscal year.

Insider Transactions at Ero Copper

In related news, Director John H. Wright sold 15,000 shares of the firm’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of C$52.11, for a total value of C$781,650.00. Following the completion of the sale, the director directly owned 377,832 shares in the company, valued at approximately C$19,688,825.52. This trade represents a 3.82% decrease in their position. Company 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.