Ero Copper (TSE:ERO) Stock Rating Upgraded by TD Securities

Ero Copper (TSE:ERO) was upgraded by TD Securities from a “hold” rating to a “buy” rating in a research note issued on Wednesday,BayStreet.CA reports. The brokerage presently has a C$23.00 price objective on the stock, down from their prior price objective of C$26.00. TD Securities’ price objective would indicate a potential upside of 14.54% from the company’s previous close.

A number of other brokerages have also commented on ERO. Jefferies Financial Group cut their price target on Ero Copper from C$33.00 to C$29.00 in a research note on Tuesday, January 7th. The Goldman Sachs Group raised Ero Copper to a “strong-buy” rating in a research note on Monday, December 2nd. National Bankshares cut their price target on Ero Copper from C$33.00 to C$31.50 and set a “sector perform” rating on the stock in a research note on Tuesday, October 15th. Ventum Financial cut their price target on Ero Copper from C$31.50 to C$29.00 in a research note on Thursday, November 21st. Finally, Scotiabank cut their price target on Ero Copper from C$28.50 to C$25.00 and set an “outperform” rating on the stock in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$30.38.

Ero Copper Stock Performance

TSE:ERO opened at C$20.08 on Wednesday. The stock’s 50-day simple moving average is C$19.81 and its 200 day simple moving average is C$24.05. Ero Copper has a twelve month low of C$18.16 and a twelve month high of C$32.89. The firm has a market capitalization of C$1.41 billion, a PE ratio of 87.84, a price-to-earnings-growth ratio of -0.72 and a beta of 1.98. The company has a quick ratio of 1.43, a current ratio of 0.68 and a debt-to-equity ratio of 83.17.

Insider Transactions at Ero Copper

In other Ero Copper news, Director Chantal Gosselin bought 10,000 shares of the stock in a transaction on Friday, December 27th. The stock was acquired at an average cost of C$19.44 per share, for a total transaction of C$194,400.00. 10.37% of the stock is owned by corporate insiders.

Ero Copper Company Profile

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.