Ero Copper (TSE:ERO) Downgraded by Freedom Broker to Hold

Key Points

• Freedom Broker downgraded Ero Copper from “strong buy” to “hold,” while the broader analyst consensus remains “Moderate Buy” with a C$47.63 price target.
• Ero Copper shares opened at C$48.66, near the consensus target, and have traded between C$19.88 and C$56.62 over the past year. The stock’s 50-day and 200-day moving averages are C$42.44 and C$40.42, respectively.
• The company reported quarterly EPS of C$1.18 on revenue of C$403.95 million, with a 30.09% return on equity and 29.72% net margin. Ero operates copper and gold assets in Brazil and is advancing the Furnas Copper-Gold Project with Vale Base Metals.

Ero Copper (TSE:ERO - Get Free Report) was downgraded by investment analysts at Freedom Broker from a "strong-buy" rating to a "hold" rating in a report released on Thursday, Zacks reports.

A number of other equities analysts have also commented on ERO. National Bank Financial raised their price objective on shares of Ero Copper from C$50.00 to C$52.50 and gave the company an "outperform" rating in a research report on Friday, August 7th. Royal Bank Of Canada boosted their price objective on shares of Ero Copper from C$52.00 to C$53.00 in a research note on Tuesday, July 21st. Bank of America raised shares of Ero Copper from a "neutral" rating to a "buy" rating and upped their target price for the stock from C$41.00 to C$49.00 in a report on Thursday, July 16th. Scotiabank increased their target price on shares of Ero Copper from C$50.00 to C$55.00 and gave the stock a "sector outperform" rating in a research note on Monday, June 15th. Finally, Stifel Nicolaus raised their price target on shares of Ero Copper from C$52.00 to C$53.00 and gave the company a "hold" rating in a report on Tuesday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Ero Copper has an average rating of "Moderate Buy" and a consensus price target of C$47.63.

Ero Copper Stock Performance

Shares of ERO opened at C$48.66 on Thursday. The stock's 50-day simple moving average is C$42.44 and its 200 day simple moving average is C$40.42. The stock has a market capitalization of C$5.08 billion, a price-to-earnings ratio of 16.49, a price-to-earnings-growth ratio of -0.72 and a beta of 1.75. The company has a debt-to-equity ratio of 47.25, a quick ratio of 1.43 and a current ratio of 1.37. Ero Copper has a 52-week low of C$19.88 and a 52-week high of C$56.62.

Ero Copper (TSE:ERO - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported C$1.18 EPS for the quarter. The business had revenue of C$403.95 million during the quarter. Ero Copper had a return on equity of 30.09% and a net margin of 29.72%. Research analysts forecast that Ero Copper will post 4.7442244 EPS for the current fiscal year.

About Ero Copper

Ero is a Brazil -focused, growth-oriented mining company with a diversified portfolio of copper and gold assets. Headquartered in Vancouver, B.C., the Company operates two copper mines - the Caraíba Operations in Bahia State and the Tucumã Operation in Pará State - as well as the Xavantina Operations, a producing gold mine in Mato Grosso State. In addition to its operating assets, Ero is advancing the Furnas Copper-Gold Project, located in the mineral-rich Carajás Province in Pará State, through a definitive earn-in agreement with Vale Base Metals to acquire a 60% interest in the project.

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