Ero Copper (TSE:ERO) Price Target Raised to C$52.00

Ero Copper (TSE:ERO) had its price objective hoisted by investment analysts at Canaccord Genuity Group from C$48.00 to C$52.00 in a research report issued on Wednesday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 9.70% from the stock’s previous close.

ERO has been the subject of several other reports. Bank of America cut shares of Ero Copper from a “buy” rating to a “neutral” rating and decreased their price target for the company from C$49.00 to C$45.00 in a research report on Monday, February 9th. Jefferies Financial Group reduced their price objective on shares of Ero Copper from C$45.00 to C$38.00 in a research note on Friday, February 6th. TD Securities boosted their price target on shares of Ero Copper from C$33.00 to C$45.00 in a research report on Thursday, January 22nd. National Bank Financial decreased their price objective on shares of Ero Copper from C$56.00 to C$53.50 and set a “sector perform” rating for the company in a research report on Wednesday. Finally, Desjardins upped their price target on shares of Ero Copper from C$37.50 to C$45.00 and gave the company a “hold” rating in a research report on Monday, January 26th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, Ero Copper presently has a consensus rating of “Moderate Buy” and a consensus target price of C$44.54.

Ero Copper Trading Up 3.3%

Shares of ERO stock traded up C$1.50 during mid-day trading on Wednesday, reaching C$47.40. 252,443 shares of the stock traded hands, compared to its average volume of 620,602. The company has a market cap of C$4.92 billion, a price-to-earnings ratio of 35.64, a price-to-earnings-growth ratio of -0.72 and a beta of 1.99. The company has a quick ratio of 1.43, a current ratio of 0.68 and a debt-to-equity ratio of 83.17. The stock’s fifty day simple moving average is C$41.84 and its two-hundred day simple moving average is C$32.62. Ero Copper has a 1-year low of C$13.17 and a 1-year high of C$53.69.

Insider Activity

In related news, Director John H. Wright sold 15,000 shares of the stock in a transaction on Thursday, January 29th. The stock was sold at an average price of C$52.11, for a total value of C$781,650.00. Following the transaction, the director directly owned 377,832 shares in the company, valued at C$19,688,825.52. This trade represents a 3.82% decrease in their position. 10.37% of the stock is currently owned by corporate insiders.

Ero Copper Company Profile