Ero Copper (TSE:ERO) Given New C$50.00 Price Target at National Bank Financial

Key Points

• National Bank Financial cut its price target for Ero Copper to C$50.00 from C$53.50 and kept a "sector perform" rating, implying roughly a 22.85% upside from the current share price.
• Analyst sentiment is mixed but skewed positive with a consensus rating of Moderate Buy and a consensus target of C$43.50; the breakdown shows 2 Strong Buy, 4 Buy and 10 Hold ratings after several recent downgrades and adjustments.
• Shares traded at C$40.70 (-1.6%) with a market cap of C$4.24B and a P/E of 16.09, while the company reported quarterly EPS of C$1.43, a 33.5% net margin and a 31.58% return on equity.

Ero Copper (TSE:ERO - Get Free Report) had its price objective decreased by National Bank Financial from C$53.50 to C$50.00 in a research report issued on Wednesday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. National Bank Financial's price objective would suggest a potential upside of 22.85% from the stock's current price.

A number of other equities analysts have also recently commented on the stock. The Goldman Sachs Group cut shares of Ero Copper from a "buy" rating to a "hold" rating and set a C$31.00 target price on the stock. in a report on Monday. Raymond James Financial downgraded Ero Copper from a "buy" rating to a "hold" rating and decreased their price target for the stock from C$49.00 to C$45.00 in a report on Monday, February 9th. ATB Cormark Capital Markets increased their price objective on Ero Copper from C$37.00 to C$50.00 and gave the stock a "moderate buy" rating in a research report on Friday, February 6th. Jefferies Financial Group lowered their price objective on shares of Ero Copper from C$45.00 to C$38.00 in a research note on Friday, February 6th. Finally, TD increased their price objective on 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. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of C$43.50.

Ero Copper Stock Down 1.6%

Shares of ERO stock traded down C$0.65 during trading hours on Wednesday, reaching C$40.70. 279,682 shares of the stock were exchanged, compared to its average volume of 541,447. Ero Copper has a 12-month low of C$14.35 and a 12-month high of C$53.69. The business's fifty day moving average is C$40.02 and its two-hundred day moving average is C$36.96. The company has a debt-to-equity ratio of 67.59, a current ratio of 1.06 and a quick ratio of 1.43. The firm has a market capitalization of C$4.24 billion, a P/E ratio of 16.09, a P/E/G ratio of -0.72 and a beta of 1.93.

Ero Copper (TSE:ERO - Get Free Report) last announced its quarterly earnings data on Thursday, March 5th. The company reported C$1.43 EPS for the quarter. Ero Copper had a net margin of 33.50% and a return on equity of 31.58%. The company had revenue of C$430.18 million for the quarter. As a group, research analysts expect that Ero Copper will post 4.7442244 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director John H. Wright sold 15,000 shares of the firm's stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of C$52.11, for a total value of C$781,650.00. Following the transaction, the director owned 377,832 shares in the company, valued at approximately C$19,688,825.52. This trade represents a 3.82% decrease in their ownership of the stock. Insiders own 10.37% of the company's stock.

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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