Ero Copper (TSE:ERO) Upgraded by Bank of America to “Buy” Rating

Ero Copper (TSE:ERO) was upgraded by research analysts at Bank of America from a “neutral” rating to a “buy” rating in a report released on Thursday,BayStreet.CA reports. The brokerage currently has a C$49.00 price objective on the stock, up from their previous price objective of C$41.00. Bank of America‘s price target points to a potential upside of 43.61% from the stock’s previous close.

Several other analysts have also recently weighed in on ERO. BMO Capital Markets boosted their price objective on shares of Ero Copper from C$42.00 to C$48.00 in a research note on Wednesday, April 22nd. The Goldman Sachs Group lowered Ero Copper from a “buy” rating to a “hold” rating and set a C$31.00 target price for the company. in a research report on Monday, April 13th. TD reduced their price target on Ero Copper from C$47.00 to C$44.00 and set a “hold” rating on the stock in a research report on Tuesday. Jefferies Financial Group decreased their price target on Ero Copper from C$42.00 to C$39.00 in a research note on Monday. Finally, Scotiabank raised their price objective on Ero Copper from C$50.00 to C$55.00 and gave the stock a “sector outperform” rating in a research report on Monday, June 15th. Three analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$45.86.

Ero Copper Trading Down 4.0%

ERO traded down C$1.44 during trading on Thursday, reaching C$34.12. 291,790 shares of the company’s stock were exchanged, compared to its average volume of 516,116. The company has a current ratio of 1.30, a quick ratio of 1.43 and a debt-to-equity ratio of 54.96. Ero Copper has a one year low of C$17.66 and a one year high of C$53.69. The firm has a fifty day moving average price of C$38.92 and a two-hundred day moving average price of C$39.94. The stock has a market capitalization of C$3.56 billion, a PE ratio of 12.19, a price-to-earnings-growth ratio of -0.72 and a beta of 1.78.

Insider Buying and Selling

In other Ero Copper news, Director Lyle Braaten sold 10,000 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of C$41.80, for a total transaction of C$418,000.00. Following the completion of the sale, the director directly owned 200,000 shares in the company, valued at approximately C$8,360,000. This trade represents a 4.76% decrease in their position. Company insiders own 10.37% of the company’s stock.

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.