Ero Copper (TSE:ERO) Price Target Cut to C$44.00 by Analysts at TD

Key Points

• TD lowered Ero Copper’s price target from C$47.00 to C$44.00 and maintained a hold rating, implying about 20.8% upside from the current share price.
• Other analysts have been mixed on the stock, with recent target changes ranging from C$31.00 to C$55.00. The consensus rating remains Moderate Buy with an average target price of C$45.57.
• Ero Copper shares rose 4.2% to C$36.43 on Tuesday, while the company also saw insider selling when Director Lyle Braaten sold 10,000 shares in May.

Ero Copper (TSE:ERO - Get Free Report) had its price target lowered by equities researchers at TD from C$47.00 to C$44.00 in a report issued on Tuesday,BayStreet.CA reports. The firm currently has a "hold" rating on the stock. TD's price objective suggests a potential upside of 20.78% from the company's current price.

Several other equities research analysts also recently weighed in on ERO. The Goldman Sachs Group downgraded Ero Copper from a "buy" rating to a "hold" rating and set a C$31.00 price target on the stock. in a report on Monday, April 13th. Jefferies Financial Group dropped their price objective on Ero Copper from C$42.00 to C$39.00 in a report on Monday. National Bank Financial upgraded Ero Copper from a "hold" rating to a "strong-buy" rating and set a C$50.00 target price on the stock in a research note on Tuesday, May 5th. Scotiabank lifted their target price on Ero Copper from C$50.00 to C$55.00 and gave the stock a "sector outperform" rating in a research report on Monday, June 15th. Finally, BMO Capital Markets boosted their target price on shares of Ero Copper from C$42.00 to C$48.00 in a research note on Wednesday, April 22nd. Three 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 company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of C$45.57.

Ero Copper Trading Up 4.2%

TSE:ERO traded up C$1.48 during midday trading on Tuesday, hitting C$36.43. 151,304 shares of the company traded hands, compared to its average volume of 517,555. The firm has a market capitalization of C$3.80 billion, a P/E ratio of 13.01, a P/E/G ratio of -0.72 and a beta of 1.78. The firm's fifty day moving average is C$38.93 and its 200-day moving average is C$39.96. Ero Copper has a 12-month low of C$17.66 and a 12-month high of C$53.69. 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 at Ero Copper

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