Ero Copper (TSE:ERO) Stock Rating Lowered by Cibc World Mkts

Key Points

• Ero Copper has been downgraded from a "strong-buy" to a "hold" rating by Cibc World Markets, reflecting a shift in analyst sentiment towards the stock.
• Despite this downgrade, two analysts maintain a Strong Buy rating, while six have assigned a Buy rating and five a Hold rating, indicating mixed views among analysts.
• The current consensus target price for Ero Copper is C$28.33, which suggests potential upside from the current trading price of C$29.90.

Ero Copper (TSE:ERO - Get Free Report) was downgraded by equities researchers at Cibc World Mkts from a "strong-buy" rating to a "hold" rating in a research note issued on Thursday,Zacks.com reports.

Several other equities analysts have also recently commented on ERO. Stifel Canada raised shares of Ero Copper to a "strong-buy" rating in a research report on Tuesday, July 8th. Desjardins reduced their price target on shares of Ero Copper from C$25.00 to C$23.00 and set a "hold" rating on the stock in a research report on Tuesday, August 5th. National Bank Financial cut shares of Ero Copper from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 8th. Stifel Nicolaus reduced their price target on shares of Ero Copper from C$29.00 to C$26.00 and set a "buy" rating on the stock in a research report on Tuesday, August 5th. Finally, CIBC cut shares of Ero Copper from an "outperform" rating to a "neutral" rating and increased their price target for the stock from C$22.50 to C$37.00 in a research report on Friday. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of C$28.33.

Ero Copper Stock Performance

Shares of ERO stock opened at C$29.90 on Thursday. The company has a debt-to-equity ratio of 83.17, a quick ratio of 1.43 and a current ratio of 0.68. Ero Copper has a one year low of C$13.17 and a one year high of C$33.50. The company's 50-day simple moving average is C$22.79 and its 200-day simple moving average is C$20.29. The stock has a market capitalization of C$3.10 billion, a price-to-earnings ratio of 21.67, a PEG ratio of -0.72 and a beta of 1.52.

Ero Copper Company Profile

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.

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