Desjardins Cuts Ero Copper (TSE:ERO) Price Target to C$23.00

Key Points

• Desjardins reduced Ero Copper's price target from C$25.00 to C$23.00 while maintaining a "hold" rating, indicating a potential upside of 20.93% from the current price.
• Other analysts have also adjusted their ratings and targets, with Stifel Nicolaus lowering their target to C$26.00 and Raymond James upgrading to a "moderate buy."
• Ero Copper shares traded up by 2.8%, reaching C$19.02, amidst fluctuating market conditions with a fifty-two week low of C$13.17 and high of C$31.56.

Ero Copper (TSE:ERO - Get Free Report) had its price objective cut by research analysts at Desjardins from C$25.00 to C$23.00 in a report released on Tuesday,BayStreet.CA reports. The brokerage currently has a "hold" rating on the stock. Desjardins' price target points to a potential upside of 19.60% from the company's current price.

Several other equities analysts have also recently weighed in on ERO. National Bankshares cut shares of Ero Copper from an "outperform" rating to a "sector perform" rating and set a C$24.50 price objective on the stock. in a research report on Wednesday, July 9th. National Bank Financial lowered Ero Copper from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 8th. BMO Capital Markets increased their price objective on Ero Copper from C$24.00 to C$27.00 and gave the stock an "outperform" rating in a research note on Friday, July 4th. Raymond James Financial raised Ero Copper to a "moderate buy" rating in a research note on Monday, June 30th. Finally, TD Securities increased their price target on shares of Ero Copper from C$20.00 to C$22.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of C$27.29.

Ero Copper Trading Up 1.8%

Shares of Ero Copper stock traded up C$0.34 during trading on Tuesday, hitting C$19.23. The stock had a trading volume of 227,257 shares, compared to its average volume of 362,928. Ero Copper has a 1 year low of C$13.17 and a 1 year high of C$31.56. The stock has a 50 day simple moving average of C$20.68 and a 200 day simple moving average of C$18.95. The company has a quick ratio of 1.43, a current ratio of 0.68 and a debt-to-equity ratio of 83.17. The company has a market capitalization of C$1.35 billion, a PE ratio of 84.12, a P/E/G ratio of -0.72 and a beta of 1.98.

Ero Copper Company Profile

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.