Ero Copper Corp. (TSE:ERO) Given Average Recommendation of “Moderate Buy” by Brokerages

Ero Copper Corp. (TSE:ERO) has received an average recommendation of “Moderate Buy” from the fifteen brokerages that are currently covering the company, Marketbeat reports. Nine equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and three have given a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is C$46.00.

A number of brokerages have commented on ERO. National Bank Financial raised Ero Copper from a “hold” rating to a “strong-buy” rating and set a C$50.00 price objective for the company in a report on Tuesday, May 5th. Scotiabank raised their target price on 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. TD lifted their target price on Ero Copper from C$45.00 to C$47.00 and gave the company a “hold” rating in a research report on Friday, April 10th. BMO Capital Markets upped their price target on Ero Copper from C$42.00 to C$48.00 in a report on Wednesday, April 22nd. Finally, The Goldman Sachs Group lowered Ero Copper from a “buy” rating to a “hold” rating and set a C$31.00 price target for the company. in a research report on Monday, April 13th.

Insider Activity

In other news, Director Lyle Braaten sold 10,000 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of C$41.80, for a total value of C$418,000.00. Following the completion of 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 currently owned by insiders.

Ero Copper Stock Up 2.2%

Shares of ERO traded up C$0.77 on Friday, reaching C$36.23. The company’s stock had a trading volume of 354,302 shares, compared to its average volume of 521,650. Ero Copper has a twelve month low of C$17.66 and a twelve month high of C$53.69. The stock has a market capitalization of C$3.78 billion, a PE ratio of 12.94, a PEG ratio of -0.72 and a beta of 1.78. The company has a current ratio of 1.30, a quick ratio of 1.43 and a debt-to-equity ratio of 54.96. The firm has a fifty day moving average of C$38.93 and a 200-day moving average of C$39.96.

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.