National Bank Financial Cuts Ero Copper (TSE:ERO) Price Target to C$50.00

Ero Copper (TSE:ERO) had its target price lowered by National Bank Financial from C$53.50 to C$50.00 in a research note released on Wednesday morning,BayStreet.CA reports. The brokerage currently has a sector perform rating on the stock.

Several other research analysts have also issued reports on ERO. Canadian Imperial Bank of Commerce increased their price objective on Ero Copper from C$42.00 to C$52.00 in a research note on Wednesday, February 4th. Jefferies Financial Group reduced their target price on shares of Ero Copper from C$45.00 to C$38.00 in a research note on Friday, February 6th. ATB Cormark Capital Markets upped their target price on shares of Ero Copper from C$37.00 to C$50.00 and gave the stock a “moderate buy” rating in a report on Friday, February 6th. TD Securities increased their target price on shares of Ero Copper from C$33.00 to C$45.00 in a research report on Thursday, January 22nd. Finally, The Goldman Sachs Group downgraded shares of Ero Copper from a “buy” rating to a “hold” rating and set a C$31.00 price target for the company. in a report on Monday, April 13th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Ero Copper currently has a consensus rating of “Moderate Buy” and an average price target of C$43.50.

Ero Copper Stock Down 2.0%

TSE ERO opened at C$39.64 on Wednesday. Ero Copper has a 1-year low of C$14.70 and a 1-year high of C$53.69. The company has a market capitalization of C$4.13 billion, a price-to-earnings ratio of 15.67, a PEG ratio of -0.72 and a beta of 1.93. The stock’s 50 day moving average is C$39.77 and its two-hundred day moving average is C$37.09. The company has a current ratio of 1.06, a quick ratio of 1.43 and a debt-to-equity ratio of 67.59.

Ero Copper (TSE:ERO) last issued its earnings results on Thursday, March 5th. The company reported C$1.43 earnings per share (EPS) for the quarter. The business had revenue of C$430.18 million during the quarter. Ero Copper had a return on equity of 31.58% and a net margin of 33.50%. Equities analysts forecast that Ero Copper will post 4.7442244 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Ero Copper 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 approximately C$19,688,825.52. This trade represents a 3.82% decrease in their position. 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.