Ero Copper (TSE:ERO) Given New C$53.00 Price Target at Stifel Nicolaus

Key Points

• Stifel Nicolaus raised its price target on Ero Copper to C$53.00 from C$52.00 and kept a hold rating, implying about 39.55% upside from the current share price.
• Other analysts have also adjusted their views, including RBC lifting its target to C$53.00 and Bank of America upgrading the stock to buy, while the broader consensus remains Moderate Buy with an average target of C$47.40.
• Ero Copper shares rose to C$37.98 in Tuesday trading, and the company remains a Brazil-focused miner with copper, gold, and growth projects including the Furnas Copper-Gold Project.

Ero Copper (TSE:ERO - Get Free Report) had its price target lifted by Stifel Nicolaus from C$52.00 to C$53.00 in a research report issued on Tuesday,BayStreet.CA reports. The firm currently has a "hold" rating on the stock. Stifel Nicolaus' price target points to a potential upside of 39.55% from the company's current price.

ERO has been the topic of several other reports. Royal Bank Of Canada lifted their price objective on Ero Copper from C$52.00 to C$53.00 in a report on Tuesday. National Bank Financial upgraded shares of Ero Copper from a "hold" rating to a "strong-buy" rating and set a C$50.00 target price for the company in a research report on Tuesday, May 5th. The Goldman Sachs Group lowered shares of Ero Copper from a "buy" rating to a "hold" rating and set a C$31.00 price target on the stock. in a research report on Monday, April 13th. Bank of America raised shares of Ero Copper from a "neutral" rating to a "buy" rating and upped their price objective for the company from C$41.00 to C$49.00 in a research note on Thursday, July 16th. Finally, BMO Capital Markets increased their price objective on shares of Ero Copper from C$42.00 to C$48.00 in a report on Wednesday, April 22nd. Three investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, Ero Copper currently has an average rating of "Moderate Buy" and a consensus target price of C$47.40.

Ero Copper Stock Performance

Ero Copper stock traded up C$2.67 during mid-day trading on Tuesday, hitting C$37.98. The company had a trading volume of 141,988 shares, compared to its average volume of 511,794. The company's fifty day moving average is C$38.68 and its 200-day moving average is C$39.86. Ero Copper has a 12-month low of C$17.66 and a 12-month high of C$53.69. The company has a market capitalization of C$3.96 billion, a price-to-earnings ratio of 13.56, a P/E/G ratio of -0.72 and a beta of 1.78. The company has a current ratio of 1.30, a quick ratio of 1.43 and a debt-to-equity ratio of 54.96.

Insider Buying and Selling

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

Ero Copper Company Profile

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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