Freedom Broker Downgrades Ero Copper (TSE:ERO) to Hold

Ero Copper (TSE:ERO) was downgraded by Freedom Broker from a “strong-buy” rating to a “hold” rating in a research report issued on Thursday, Zacks reports.

Several other equities analysts have also commented on the company. Jefferies Financial Group reduced their price objective on Ero Copper from C$42.00 to C$39.00 in a research report on Monday, July 13th. Royal Bank Of Canada boosted their target price on Ero Copper from C$52.00 to C$53.00 in a research report on Tuesday, July 21st. TD increased their price target on shares of Ero Copper from C$44.00 to C$45.00 and gave the company a “hold” rating in a research report on Friday, August 7th. Bank of America raised shares of Ero Copper from a “neutral” rating to a “buy” rating and lifted their price target for the stock from C$41.00 to C$49.00 in a research note on Thursday, July 16th. Finally, Stifel Nicolaus boosted their price objective on shares of Ero Copper from C$52.00 to C$53.00 and gave the stock a “hold” rating in a report on Tuesday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$47.63.

Ero Copper Stock Up 1.3%

Shares of TSE:ERO opened at C$48.66 on Thursday. The firm has a market capitalization of C$5.08 billion, a PE ratio of 16.49, a price-to-earnings-growth ratio of -0.72 and a beta of 1.75. The company has a debt-to-equity ratio of 47.25, a quick ratio of 1.43 and a current ratio of 1.37. Ero Copper has a 52-week low of C$19.88 and a 52-week high of C$56.62. The firm has a fifty day moving average of C$42.44 and a 200 day moving average of C$40.42.

Ero Copper (TSE:ERO) last released its quarterly earnings results on Wednesday, August 5th. The company reported C$1.18 earnings per share for the quarter. Ero Copper had a return on equity of 30.09% and a net margin of 29.72%.The business had revenue of C$403.95 million for the quarter. As a group, research analysts anticipate that Ero Copper will post 4.7442244 EPS for the current fiscal year.

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.