Ero Copper (TSE:ERO) Price Target Cut to C$16.50

Ero Copper (TSE:ERO – Get Rating) had its price target lowered by research analysts at TD Securities from C$17.00 to C$16.50 in a research report issued to clients and investors on Thursday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. TD Securities’ price objective would suggest a potential upside of 35.14% from the stock’s current price.

Several other equities analysts also recently issued reports on ERO. Scotiabank reduced their price target on shares of Ero Copper from C$20.00 to C$19.00 in a report on Thursday. BMO Capital Markets reduced their price target on shares of Ero Copper from C$25.00 to C$22.00 in a report on Wednesday. Raymond James reduced their price target on shares of Ero Copper from C$22.00 to C$18.00 and set an “outperform” rating for the company in a report on Tuesday, July 19th. Cormark reduced their price target on shares of Ero Copper from C$28.50 to C$25.00 and set a “buy” rating for the company in a report on Wednesday, May 11th. Finally, Stifel Nicolaus reduced their price target on shares of Ero Copper from C$35.00 to C$27.00 in a report on Tuesday, July 19th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Ero Copper currently has an average rating of “Moderate Buy” and a consensus price target of C$21.45.

Ero Copper Stock Up 9.8 %

ERO stock opened at C$12.21 on Thursday. The company has a debt-to-equity ratio of 16.78, a current ratio of 1.70 and a quick ratio of 1.43. Ero Copper has a 1-year low of C$10.54 and a 1-year high of C$25.83. The firm has a fifty day moving average price of C$12.40 and a two-hundred day moving average price of C$15.72. The firm has a market cap of C$1.11 billion and a price-to-earnings ratio of 3.86.

Ero Copper (TSE:ERO – Get Rating) last released its earnings results on Monday, May 9th. The company reported C$0.46 earnings per share for the quarter, missing the consensus estimate of C$0.51 by C($0.05). The business had revenue of C$137.96 million for the quarter. Research analysts predict that Ero Copper will post 2.04 EPS for the current year.

Insider Transactions at Ero Copper

In related news, Director John H. Wright purchased 6,000 shares of Ero Copper stock in a transaction dated Friday, May 13th. The stock was acquired at an average cost of C$13.70 per share, with a total value of C$82,200.00. Following the completion of the transaction, the director now directly owns 786,332 shares of the company’s stock, valued at C$10,772,748.40.

About Ero Copper

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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 Curaçá Valley, northeastern Bahia state, as well as gold and silver byproducts.