Ero Copper (TSE:ERO) Stock Price Crosses Above Two Hundred Day Moving Average Following Analyst Downgrade

Ero Copper Corp. (TSE:ERO)’s stock price crossed above its 200-day moving average during trading on Wednesday after Scotiabank upgraded the stock from a hold rating to a strong-buy rating. The stock has a 200-day moving average of C$42.63 and traded as high as C$44.17. Ero Copper shares last traded at C$43.04, with a volume of 629,480 shares changing hands.

Other analysts have also issued reports about the stock. TD increased their price target on shares of Ero Copper from C$44.00 to C$45.00 and gave the stock a “hold” rating in a research report on Friday, August 7th. National Bank Financial boosted their price objective on shares of Ero Copper from C$52.50 to C$55.00 and gave the company an “outperform” rating in a research report on Monday, September 21st. Jefferies Financial Group cut their target price on shares of Ero Copper from C$42.00 to C$39.00 in a research report on Monday, July 13th. ATB Cormark Capital Markets lifted their target price on shares of Ero Copper from C$50.00 to C$55.00 and gave the company an “outperform” rating in a research note on Wednesday, October 14th. Finally, BMO Capital Markets restated an “outperform” rating and set a C$52.00 price target on shares of Ero Copper in a report on Monday, September 21st. The rating follows a visit to ERO Copper’s operations after the company’s investor day. Matthew Murphy noted progress across the company’s assets. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$49.27.

Ero Copper Price Performance

The company has a debt-to-equity ratio of 36.62, a current ratio of 1.38 and a quick ratio of 1.43. The stock has a market capitalization of C$4.49 billion, a price-to-earnings ratio of 14.59, a PEG ratio of -0.72 and a beta of 1.58. The stock’s 50 day simple moving average is C$49.03 and its 200-day simple moving average is C$42.63.

Ero Copper (TSE:ERO) last posted its earnings results on Monday, November 2nd. The company reported C$1.74 EPS for the quarter. Ero Copper had a net margin of 32.14% and a return on equity of 34.30%. The company had revenue of C$495.47 million during the quarter. On average, analysts expect that Ero Copper Corp. will post 4.74 EPS for the current fiscal year.

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.