TD Cuts Ero Copper (TSE:ERO) Price Target to C$44.00

Ero Copper (TSE:ERO) had its price objective decreased by investment analysts at TD from C$47.00 to C$44.00 in a research note issued on Tuesday,BayStreet.CA reports. The brokerage presently has a “hold” rating on the stock. TD’s price target would indicate a potential upside of 20.78% from the stock’s current price.

Several other research analysts have also commented on the company. Jefferies Financial Group reduced their price target on Ero Copper from C$42.00 to C$39.00 in a research report on Monday. National Bank Financial upgraded Ero Copper from a “hold” rating to a “strong-buy” rating and set a C$50.00 target price on the stock in a research note on Tuesday, May 5th. BMO Capital Markets boosted their target price on shares of Ero Copper from C$42.00 to C$48.00 in a report on Wednesday, April 22nd. The Goldman Sachs Group lowered shares of 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. Finally, Scotiabank raised their price target 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 research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$45.57.

Ero Copper Stock Up 4.2%

Ero Copper stock traded up C$1.48 during mid-day trading on Tuesday, reaching C$36.43. 151,304 shares of the company were exchanged, compared to its average volume of 517,555. The company has a debt-to-equity ratio of 54.96, a quick ratio of 1.43 and a current ratio of 1.30. The firm has a market cap of C$3.80 billion, a P/E ratio of 13.01, a PEG ratio of -0.72 and a beta of 1.78. The business has a fifty day moving average of C$38.93 and a 200 day moving average of C$39.96. Ero Copper has a 12-month low of C$17.66 and a 12-month high of C$53.69.

Insider Buying and Selling

In related news, Director Lyle Braaten sold 10,000 shares of Ero Copper stock in a transaction that occurred 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 directly owned 200,000 shares in the company, valued at C$8,360,000. This trade represents a 4.76% decrease in their position. 10.37% of the stock is owned by company insiders.

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.