Ero Copper Corp. (TSE:ERO – Get Rating) shares traded down 6.4% during trading on Wednesday after TD Securities lowered their price target on the stock from C$17.00 to C$16.50. TD Securities currently has a buy rating on the stock. Ero Copper traded as low as C$10.75 and last traded at C$11.00. 105,086 shares were traded during trading, a decline of 74% from the average session volume of 400,259 shares. The stock had previously closed at C$11.75.
Several other research analysts have also commented on ERO. Raymond James cut their price target on Ero Copper from C$22.00 to C$18.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 19th. Stifel Nicolaus lowered their target price on Ero Copper from C$35.00 to C$27.00 in a research note on Tuesday, July 19th. Barclays lowered their target price on Ero Copper from C$21.00 to C$16.00 and set a “na” rating on the stock in a research note on Tuesday, July 19th. Scotiabank lowered their target price on Ero Copper from C$20.00 to C$19.00 in a research note on Thursday. Finally, BMO Capital Markets lowered their target price on Ero Copper from C$25.00 to C$22.00 in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Ero Copper presently has a consensus rating of “Moderate Buy” and a consensus target price of C$21.45.
Insider Activity at Ero Copper
In other Ero Copper news, Director John H. Wright purchased 6,000 shares of the firm’s stock in a transaction that occurred on Friday, May 13th. The shares were purchased at an average cost of C$13.70 per share, for a total transaction of C$82,200.00. Following the completion of the purchase, the director now directly owns 786,332 shares in the company, valued at C$10,772,748.40.
Ero Copper Stock Performance
Ero Copper (TSE:ERO – Get Rating) last issued its quarterly earnings data on Monday, May 9th. The company reported C$0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.51 by C($0.05). The company had revenue of C$137.96 million during the quarter. As a group, sell-side analysts anticipate that Ero Copper Corp. will post 2.04 EPS for the current year.
About Ero Copper
Ero Copper Corp., a base metals mining company, engages in the exploration, development, and production of mining projects in Brazil. It engages in the production and sale of copper concentrate from the MCSA Mining Complex located within the CuraÃ§Ã¡ Valley, northeastern Bahia state, as well as gold and silver byproducts.
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