Scotiabank Issues Pessimistic Forecast for Ero Copper (TSE:ERO) Stock Price

Ero Copper (TSE:ERO) had its price objective cut by analysts at Scotiabank from C$34.00 to C$30.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Scotiabank’s price objective indicates a potential upside of 47.13% from the stock’s current price.

A number of other research analysts have also recently weighed in on ERO. Canaccord Genuity Group raised their price objective on shares of Ero Copper from C$39.00 to C$40.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Ventum Financial cut their price target on Ero Copper from C$31.50 to C$29.00 in a report on Thursday, November 21st. Jefferies Financial Group decreased their price objective on Ero Copper from C$35.00 to C$34.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. The Goldman Sachs Group raised shares of Ero Copper to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, Raymond James raised shares of Ero Copper from a “market perform” rating to an “outperform” rating and raised their price target for the stock from C$34.00 to C$36.00 in a research note on Tuesday, September 3rd. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$33.33.

Ero Copper Trading Down 0.7 %

TSE:ERO opened at C$20.39 on Wednesday. The company has a quick ratio of 1.43, a current ratio of 0.68 and a debt-to-equity ratio of 82.63. The stock has a fifty day simple moving average of C$24.47 and a 200-day simple moving average of C$26.93. Ero Copper has a 52-week low of C$18.54 and a 52-week high of C$32.89. The company has a market capitalization of C$2.10 billion, a PE ratio of -78.42, a price-to-earnings-growth ratio of -0.72 and a beta of 1.98.

Insider Buying and Selling at Ero Copper

In other Ero Copper news, Director Chantal Gosselin sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, November 28th. The stock was sold at an average price of C$21.17, for a total value of C$211,700.00. 10.37% of the stock is owned by company insiders.

About Ero Copper

Ero Copper Corp. engages in the exploration, development, and production of mining projects in Brazil. The company is involved in the production and sale of copper concentrate from the Caraíba operations located in the Curaçá Valley, northeastern Bahia state, Brazil, as well as gold and silver by-products.