Scotiabank Lowers Ero Copper (TSE:ERO) Price Target to C$30.00

Ero Copper (TSE:ERO) had its price target reduced by investment analysts at Scotiabank from C$34.00 to C$30.00 in a report issued on Wednesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Scotiabank’s target price would suggest a potential upside of 47.13% from the stock’s previous close.

Other analysts have also issued reports about the stock. Raymond James raised shares of Ero Copper from a “market perform” rating to an “outperform” rating and increased their target price for the company from C$34.00 to C$36.00 in a research note on Tuesday, September 3rd. Jefferies Financial Group reduced their price objective on Ero Copper from C$35.00 to C$34.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Eight Capital cut their target price on Ero Copper from C$40.00 to C$34.00 in a research report on Wednesday, November 6th. The Goldman Sachs Group upgraded Ero Copper to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, Ventum Financial cut their price objective on Ero Copper from C$31.50 to C$29.00 in a report on Thursday, November 21st. Four investment 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$33.33.

Ero Copper Price Performance

TSE:ERO opened at C$20.39 on Wednesday. Ero Copper has a 52-week low of C$18.54 and a 52-week high of C$32.89. 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 firm has a market cap of C$2.10 billion, a P/E ratio of -78.42, a PEG ratio of -0.72 and a beta of 1.98. The business’s 50-day moving average price is C$24.47 and its 200 day moving average price is C$26.93.

Insider Activity

In related news, Director Chantal Gosselin sold 10,000 shares of the company’s stock in a transaction on Thursday, November 28th. The shares were sold at an average price of C$21.17, for a total value of C$211,700.00. 10.37% of the stock is currently 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.