Ero Copper (TSE:ERO) Upgraded by Scotiabank to Strong-Buy Rating

Ero Copper (TSE:ERO) was upgraded by Scotiabank from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

ERO has been the subject of several other research reports. Stifel Nicolaus lowered Ero Copper from a “buy” rating to a “hold” rating and raised their price objective for the company from C$26.00 to C$37.00 in a research report on Tuesday, October 21st. CIBC cut shares of Ero Copper from an “outperform” rating to a “neutral” rating and lifted their price target for the company from C$22.50 to C$37.00 in a research report on Friday, October 10th. Canaccord Genuity Group cut shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a report on Friday, October 17th. Ventum Cap Mkts raised shares of Ero Copper to a “strong-buy” rating in a research note on Monday. Finally, Raymond James Financial boosted their price target on Ero Copper from C$28.00 to C$33.00 in a research report on Friday, October 10th. Three analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$31.82.

Ero Copper Stock Performance

Ero Copper stock opened at C$30.58 on Thursday. Ero Copper has a fifty-two week low of C$13.17 and a fifty-two week high of C$34.41. The stock has a market cap of C$3.17 billion, a price-to-earnings ratio of 22.16, a PEG ratio of -0.72 and a beta of 1.59. The stock’s 50 day simple moving average is C$26.93 and its two-hundred day simple moving average is C$22.22. The company has a debt-to-equity ratio of 83.17, a quick ratio of 1.43 and a current ratio of 0.68.

Ero Copper Company Profile

Ero Copper Corp is a base metals mining company. It is focused on the production and sale of copper from the Vale do Curaca Property in Brazil, with gold and silver produced and sold as by-products from the same. Ero’s operations are segmented between MCSA, NX Gold, and corporate. Ore is processed using conventional crushing and flotation at the Caraiba Mill, located adjacent to the Pilar underground mine.