Ero Copper (TSE:ERO) Price Target Raised to C$53.00

Ero Copper (TSE:ERO) had its price objective increased by investment analysts at Stifel Nicolaus from C$52.00 to C$53.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The firm currently has a “hold” rating on the stock. Stifel Nicolaus’ price objective indicates a potential upside of 39.55% from the company’s current price.

Other equities analysts have also issued research reports about the company. The Goldman Sachs Group lowered Ero Copper from a “buy” rating to a “hold” rating and set a C$31.00 target price on the stock. in a research note on Monday, April 13th. National Bank Financial upgraded shares of 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. BMO Capital Markets increased their price target on shares of Ero Copper from C$42.00 to C$48.00 in a research report on Wednesday, April 22nd. Royal Bank Of Canada raised their price objective on shares of Ero Copper from C$52.00 to C$53.00 in a research note on Tuesday. Finally, Scotiabank lifted 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. Three investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$47.40.

Ero Copper Trading Up 7.6%

TSE:ERO traded up C$2.67 during trading hours on Tuesday, reaching C$37.98. 141,988 shares of the stock were exchanged, compared to its average volume of 511,794. Ero Copper has a twelve month low of C$17.66 and a twelve month high of C$53.69. The business has a 50-day moving average of C$38.68 and a two-hundred day moving average of C$39.86. The company has a market capitalization of C$3.96 billion, a price-to-earnings ratio of 13.56, a PEG ratio of -0.72 and a beta of 1.78. The company has a quick ratio of 1.43, a current ratio of 1.30 and a debt-to-equity ratio of 54.96.

Insider Buying and Selling

In other Ero Copper news, Director Lyle Braaten sold 10,000 shares of the company’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 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 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.