National Bankshares Raises Ero Copper (TSE:ERO) Price Target to C$35.00

Key Points

• National Bankshares has raised Ero Copper's price target from C$27.00 to C$35.00, indicating a potential upside of 7.39% from the current price.
• Several other firms have also adjusted their ratings, with National Bank Financial downgrading it to "hold" while Stifel Canada upgraded it to "strong-buy".
• Ero Copper's stock price recently increased, reaching C$32.59 after trading up by C$2.07 during the day, reflecting a market cap of C$3.38 billion.

Ero Copper (TSE:ERO - Get Free Report) had its price objective increased by equities researchers at National Bankshares from C$27.00 to C$35.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. National Bankshares' target price would suggest a potential upside of 7.39% from the stock's current price.

A number of other research firms have also commented on ERO. National Bank Financial lowered Ero Copper from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 8th. Stifel Canada upgraded Ero Copper to a "strong-buy" rating in a research report on Tuesday, July 8th. BMO Capital Markets increased their price objective on Ero Copper from C$24.00 to C$27.00 and gave the company an "outperform" rating in a research report on Friday, July 4th. Raymond James Financial upgraded Ero Copper to a "moderate buy" rating in a research report on Monday, June 30th. Finally, Scotiabank increased their price objective on Ero Copper from C$24.00 to C$26.00 in a research report on Monday, June 16th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of C$27.09.

Ero Copper Price Performance

TSE ERO traded up C$2.07 during trading hours on Wednesday, reaching C$32.59. 234,686 shares of the company's stock were exchanged, compared to its average volume of 368,263. The stock has a market cap of C$3.38 billion, a PE ratio of 23.62, a price-to-earnings-growth ratio of -0.72 and a beta of 1.52. Ero Copper has a one year low of C$13.17 and a one year high of C$32.81. The firm has a fifty day moving average of C$22.01 and a 200-day moving average of C$20.05. The company has a current ratio of 0.68, a quick ratio of 1.43 and a debt-to-equity ratio of 83.17.

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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