Ero Copper Corp. (TSE:ERO) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Ero Copper has a consensus analyst rating of “Moderate Buy” from 15 covering analysts, with an average 12-month price target of C$46.00.
• Recent analyst moves were mixed: National Bank Financial upgraded the stock to strong buy, while Goldman Sachs downgraded it to hold; Scotiabank raised its target to C$55.00.
• Shares rose 2.2% to C$36.23, and a director recently sold 10,000 shares at C$41.80, reducing their stake by 4.76%.

Shares of Ero Copper Corp. (TSE:ERO - Get Free Report) have been given a consensus rating of "Moderate Buy" by the fifteen analysts that are presently covering the firm, Marketbeat.com reports. Nine equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and three have given a strong buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is C$46.00.

A number of equities analysts have recently issued reports on the company. National Bank Financial upgraded Ero Copper from a "hold" rating to a "strong-buy" rating and set a C$50.00 price objective for the company in a research report on Tuesday, May 5th. Jefferies Financial Group reduced their target price on Ero Copper from C$49.00 to C$42.00 in a report on Monday, July 6th. The Goldman Sachs Group downgraded shares of Ero Copper from a "buy" rating to a "hold" rating and set a C$31.00 target price for the company. in a research report on Monday, April 13th. Scotiabank boosted their price target on shares of Ero Copper from C$50.00 to C$55.00 and gave the stock a "sector outperform" rating in a research report on Monday, June 15th. Finally, TD upped their price objective on shares of Ero Copper from C$45.00 to C$47.00 and gave the company a "hold" rating in a research note on Friday, April 10th.

Insider Buying and Selling

In related news, Director Lyle Braaten sold 10,000 shares of the company's stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of C$41.80, for a total transaction of C$418,000.00. Following the sale, the director owned 200,000 shares in the company, valued at C$8,360,000. This represents a 4.76% decrease in their position. Company insiders own 10.37% of the company's stock.

Ero Copper Trading Up 2.2%

ERO traded up C$0.77 during midday trading on Friday, hitting C$36.23. 354,302 shares of the company were exchanged, compared to its average volume of 521,650. The firm has a market capitalization of C$3.78 billion, a P/E ratio of 12.94, a P/E/G ratio of -0.72 and a beta of 1.78. Ero Copper has a 1-year low of C$17.66 and a 1-year high of C$53.69. The firm's 50 day moving average price is C$38.93 and its 200-day moving average price is C$39.96. The company has a quick ratio of 1.43, a current ratio of 1.30 and a debt-to-equity ratio of 54.96.

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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