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Ero Copper (TSE:ERO) Lowered to "Hold" Rating by TD Securities

Ero Copper logo with Basic Materials background

Key Points

  • Ero Copper was downgraded by TD Securities from a "buy" rating to a "hold" rating, with a new target price of C$33.00, indicating a potential upside of 14.35% from its current price.
  • Other analysts have also adjusted their ratings, with CIBC moving to a "neutral" rating and raising their target price to C$37.00, while Scotiabank and Canaccord Genuity Group both issued "hold" ratings with higher price targets.
  • The stock price fell C$3.00 to C$28.86 during midday trading and has shown significant volatility, boasting a one-year range between C$13.17 and C$34.41.
  • MarketBeat previews top five stocks to own in November.

Ero Copper (TSE:ERO - Get Free Report) was downgraded by analysts at TD Securities from a "buy" rating to a "hold" rating in a research report issued on Tuesday,BayStreet.CA reports. They presently have a C$33.00 target price on the stock, up from their previous target price of C$24.00. TD Securities' price objective indicates a potential upside of 14.35% from the stock's current price.

Several other equities analysts also recently weighed in on ERO. CIBC downgraded Ero Copper from an "outperform" rating to a "neutral" rating and raised their price objective for the company from C$22.50 to C$37.00 in a research note on Friday, October 10th. Canaccord Genuity Group cut Ero Copper from a "strong-buy" rating to a "hold" rating in a report on Friday. Raymond James Financial upped their price target on shares of Ero Copper from C$28.00 to C$33.00 in a research report on Friday, October 10th. Scotiabank downgraded Ero Copper from an "outperform" rating to a "hold" rating and raised their price objective for the stock from C$26.50 to C$32.00 in a report on Tuesday, October 14th. Finally, National Bankshares upped 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 report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Ero Copper currently has an average rating of "Hold" and a consensus target price of C$31.92.

Check Out Our Latest Report on Ero Copper

Ero Copper Stock Performance

Shares of TSE ERO traded down C$3.00 during midday trading on Tuesday, reaching C$28.86. 346,090 shares of the company were exchanged, compared to its average volume of 376,452. Ero Copper has a 1 year low of C$13.17 and a 1 year high of C$34.41. The company has a current ratio of 0.68, a quick ratio of 1.43 and a debt-to-equity ratio of 83.17. The stock has a fifty day simple moving average of C$24.36 and a 200 day simple moving average of C$20.95. The stock 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

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Ero Copper (TSE:ERO)

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