Ero Copper (TSE:ERO) Cut to Sector Perform at Scotiabank

Key Points

• Ero Copper was downgraded by Scotiabank from an "outperform" rating to a "sector perform" rating, with a new price target of C$32.00, indicating a potential downside of 2.32% from its previous close.
• Other analysts have varying outlooks, with Raymond James increasing their target to C$33.00, while National Bank Financial cut their rating from "strong-buy" to "hold."
• The stock recently experienced a price increase of C$2.86 during trading, reaching C$32.76, with a market cap of C$3.39 billion.

Ero Copper (TSE:ERO - Get Free Report) was downgraded by equities research analysts at Scotiabank from an "outperform" rating to a "sector perform" rating in a research note issued on Tuesday,BayStreet.CA reports. They presently have a C$32.00 price target on the stock, up from their prior price target of C$26.50. Scotiabank's target price indicates a potential downside of 2.32% from the stock's previous close.

Several other equities analysts have also commented on the company. Raymond James Financial upped their target price on Ero Copper from C$28.00 to C$33.00 in a research note on Friday. Stifel Canada raised shares of Ero Copper to a "strong-buy" rating in a research report on Tuesday, July 8th. National Bank Financial cut shares of Ero Copper from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 8th. Stifel Nicolaus cut their price target on shares of Ero Copper from C$29.00 to C$26.00 and set a "buy" rating on the stock in a research note on Tuesday, August 5th. Finally, National Bankshares increased their price target on shares of Ero Copper from C$27.00 to C$35.00 and gave the stock a "sector perform" rating in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of C$28.83.

Ero Copper Price Performance

ERO stock traded up C$2.86 during trading on Tuesday, hitting C$32.76. The stock had a trading volume of 586,212 shares, compared to its average volume of 372,283. The company's 50 day moving average price is C$23.02 and its two-hundred day moving average price is C$20.40. Ero Copper has a 1-year low of C$13.17 and a 1-year high of C$33.50. The stock has a market cap of C$3.39 billion, a price-to-earnings ratio of 23.74, a price-to-earnings-growth ratio of -0.72 and a beta of 1.52. The company has a debt-to-equity ratio of 83.17, a quick ratio of 1.43 and a current ratio of 0.68.

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.

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