Canaccord Genuity Group Issues Pessimistic Forecast for Ero Copper (TSE:ERO) Stock Price

Ero Copper (TSE:ERO) had its price objective trimmed by Canaccord Genuity Group from C$26.50 to C$26.00 in a research note published on Wednesday,BayStreet.CA reports. The firm currently has a buy rating on the stock.

A number of other brokerages have also weighed in on ERO. BMO Capital Markets upgraded Ero Copper to a “strong-buy” rating in a research report on Wednesday, April 16th. TD Securities reduced their price target on Ero Copper from C$23.00 to C$22.00 and set a “buy” rating on the stock in a report on Monday, March 10th. Scotiabank dropped their price objective on shares of Ero Copper from C$28.50 to C$25.00 and set an “outperform” rating for the company in a report on Wednesday, February 12th. Raymond James boosted their target price on shares of Ero Copper from C$26.00 to C$28.00 in a report on Friday, April 4th. Finally, National Bankshares dropped their price target on shares of Ero Copper from C$23.50 to C$21.50 and set an “outperform” rating for the company in a research note on Wednesday, April 16th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of C$30.04.

Ero Copper Stock Performance

Shares of Ero Copper stock opened at C$18.66 on Wednesday. The company’s 50 day moving average price is C$17.09 and its two-hundred day moving average price is C$19.59. The firm has a market capitalization of C$1.31 billion, a P/E ratio of 81.63, a P/E/G ratio of -0.72 and a beta of 1.98. Ero Copper has a fifty-two week low of C$13.17 and a fifty-two week high of C$32.89. The company has a debt-to-equity ratio of 83.17, a current ratio of 0.68 and a quick ratio of 1.43.

About Ero Copper

Ero Copper Corp is a base metals mining company. It is focused on the production and sale of copper from the Vale do Curaca Property in Brazil, with gold and silver produced and sold as by-products from the same. Ero’s operations are segmented between MCSA, NX Gold, and corporate. Ore is processed using conventional crushing and flotation at the Caraiba Mill, located adjacent to the Pilar underground mine.