Ero Copper (TSE:ERO) Downgraded by Stifel Nicolaus to Hold

Key Points

• Ero Copper has been downgraded by Stifel Nicolaus from a "buy" to a "hold" rating, with a new target price of C$37.00, indicating a potential upside of 28.21% from the previous close.
• Other analysts have also lowered their ratings, with nine analysts now rating the stock as "hold" and only two offering a "strong buy" rating.
• Shares of Ero Copper fell by 9.4% to C$28.86 during trading, with a notable market cap of C$2.99 billion and a significant debt-to-equity ratio of 83.17.

Ero Copper (TSE:ERO - Get Free Report) was downgraded by equities researchers at Stifel Nicolaus from a "buy" rating to a "hold" rating in a research report issued on Tuesday,BayStreet.CA reports. They currently have a C$37.00 target price on the stock, up from their prior target price of C$26.00. Stifel Nicolaus' price target indicates a potential upside of 28.21% from the stock's previous close.

Several other analysts have also recently weighed in on ERO. Cibc World Mkts cut shares of Ero Copper from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 9th. National Bankshares increased their target price on Ero Copper from C$27.00 to C$35.00 and gave the company a "sector perform" rating in a report on Wednesday, October 8th. Desjardins decreased their price target on Ero Copper from C$25.00 to C$23.00 and set a "hold" rating for the company in a report on Tuesday, August 5th. Scotiabank cut Ero Copper from an "outperform" rating to a "hold" rating and boosted their target price for the stock from C$26.50 to C$32.00 in a research note on Tuesday, October 14th. Finally, Canaccord Genuity Group downgraded shares of Ero Copper from a "strong-buy" rating to a "hold" rating in a research report on Friday. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of C$31.92.

Ero Copper Trading Down 9.4%

Shares of TSE ERO traded down C$3.00 during trading on Tuesday, reaching C$28.86. The stock had a trading volume of 346,090 shares, compared to its average volume of 376,452. The business's 50-day moving average price is C$24.36 and its 200-day moving average price is C$20.95. 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 has a fifty-two week low of C$13.17 and a fifty-two week high of C$34.41. The company has a market cap of C$2.99 billion, a P/E ratio of 20.91, a PEG ratio of -0.72 and a beta of 1.52.

About Ero Copper

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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