Ero Copper (TSE:ERO) Price Target Cut to C$39.00 by Analysts at Jefferies Financial Group

Key Points

• Jefferies Financial Group cut its price target on Ero Copper from C$42.00 to C$39.00, though that still implies about 11.81% upside from the current share price.
• Analyst views on the stock remain mixed: recent ratings include a Goldman Sachs downgrade to hold, while National Bank Financial and Scotiabank issued more bullish targets. MarketBeat says the consensus rating is Moderate Buy with an average target of C$45.79.
• Ero Copper’s shares traded down to C$34.88 on Monday, below both its 50-day and 200-day moving averages, while director Lyle Braaten also sold 10,000 shares in a recent insider transaction.

Ero Copper (TSE:ERO - Get Free Report) had its price objective lowered by research analysts at Jefferies Financial Group from C$42.00 to C$39.00 in a report released on Monday,BayStreet.CA reports. Jefferies Financial Group's price objective indicates a potential upside of 11.81% from the company's current price.

Several other equities analysts also recently commented on ERO. The Goldman Sachs Group downgraded shares of Ero Copper from a "buy" rating to a "hold" rating and set a C$31.00 price objective on the stock. in a report on Monday, April 13th. 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 note on Tuesday, May 5th. TD lifted their target price on shares of Ero Copper from C$45.00 to C$47.00 and gave the stock a "hold" rating in a report on Friday, April 10th. Scotiabank upped their price target on shares of Ero Copper from C$50.00 to C$55.00 and gave the company a "sector outperform" rating in a research note on Monday, June 15th. Finally, BMO Capital Markets increased their price target on shares of Ero Copper from C$42.00 to C$48.00 in a report on Wednesday, April 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, Ero Copper has a consensus rating of "Moderate Buy" and a consensus target price of C$45.79.

Ero Copper Stock Performance

Shares of ERO stock traded down C$1.35 during trading on Monday, reaching C$34.88. 141,858 shares of the company's stock were exchanged, compared to its average volume of 518,706. Ero Copper has a twelve month low of C$17.66 and a twelve month high of C$53.69. The firm's fifty day moving average price is C$38.93 and its 200-day moving average price is C$39.98. The company has a quick ratio of 1.43, a current ratio of 1.30 and a debt-to-equity ratio of 54.96. The stock has a market capitalization of C$3.64 billion, a PE ratio of 12.46, a PEG ratio of -0.72 and a beta of 1.78.

Insider Buying and Selling at Ero Copper

In other news, Director Lyle Braaten sold 10,000 shares of the business's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of C$41.80, for a total value of C$418,000.00. Following the completion of the sale, the director owned 200,000 shares of the company's stock, valued at approximately C$8,360,000. The trade was a 4.76% decrease in their ownership of the stock. Corporate insiders own 10.37% of the company's stock.

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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