Ero Copper (TSE:ERO) Cut to “Hold” at Raymond James Financial

Raymond James Financial cut shares of Ero Copper (TSE:ERO) from a buy rating to a hold rating in a report released on Monday morning, MarketBeat Ratings reports. The firm currently has C$45.00 price target on the stock, down from their prior price target of C$49.00.

Several other research firms have also weighed in on ERO. Desjardins boosted 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. Canaccord Genuity Group raised Ero Copper from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 14th. ATB Capital raised their price objective on Ero Copper from C$37.00 to C$50.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. Stifel Nicolaus downgraded Ero Copper from a “buy” rating to a “hold” rating and lifted their target price for the stock from C$26.00 to C$37.00 in a research note on Tuesday, October 21st. Finally, Jefferies Financial Group decreased their target price on Ero Copper from C$45.00 to C$38.00 in a report on Friday, February 6th. Three research 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’s stock. According to MarketBeat, Ero Copper presently has an average rating of “Moderate Buy” and an average price target of C$42.58.

Ero Copper Stock Performance

ERO opened at C$42.72 on Monday. The business’s 50-day simple moving average is C$40.54 and its 200 day simple moving average is C$31.06. Ero Copper has a 52-week low of C$13.17 and a 52-week high of C$53.69. The company has a debt-to-equity ratio of 83.17, a quick ratio of 1.43 and a current ratio of 0.68. The firm has a market capitalization of C$4.44 billion, a PE ratio of 32.12, a PEG ratio of -0.72 and a beta of 1.99.

Ero Copper (TSE:ERO) last posted its quarterly earnings results on Tuesday, November 4th. The company reported C$0.27 earnings per share for the quarter. Ero Copper had a return on equity of 2.24% and a net margin of 3.45%.The firm had revenue of C$246.59 million for the quarter. As a group, sell-side analysts expect that Ero Copper will post 4.7442244 earnings per share for the current fiscal year.

Insider Activity

In other news, Director John H. Wright sold 15,000 shares of the business’s stock in a transaction on Thursday, January 29th. The stock was sold at an average price of C$52.11, for a total value of C$781,650.00. Following the sale, the director owned 377,832 shares of the company’s stock, valued at approximately C$19,688,825.52. The trade was a 3.82% decrease in their position. Company insiders own 10.37% of the company’s stock.

Ero Copper Company Profile