Royal Bank Of Canada Boosts Ero Copper (TSE:ERO) Price Target to C$53.00

Key Points

• Royal Bank of Canada raised its price target on Ero Copper to C$53.00 from C$52.00, implying about 39.6% upside from the current share price.
• Analyst views are mixed overall: while some firms recently cut targets or downgraded the stock, others upgraded it, and MarketBeat says the consensus rating is still “Moderate Buy” with a C$47.40 average target.
• Ero Copper’s shares rose to C$37.98 on Tuesday, and the company remains a Brazil-focused miner with copper and gold assets plus an advancing Furnas Copper-Gold Project.

Ero Copper (TSE:ERO - Get Free Report) had its price target raised by investment analysts at Royal Bank Of Canada from C$52.00 to C$53.00 in a note issued to investors on Tuesday,BayStreet.CA reports. Royal Bank Of Canada's price target indicates a potential upside of 39.55% from the company's current price.

Several other brokerages also recently issued reports on ERO. TD lowered their price target on shares of Ero Copper from C$47.00 to C$44.00 and set a "hold" rating for the company in a report on Tuesday, July 14th. The Goldman Sachs Group cut shares of Ero Copper from a "buy" rating to a "hold" rating and set a C$31.00 price objective for the company. in a research report on Monday, April 13th. Jefferies Financial Group lowered their target price on Ero Copper from C$42.00 to C$39.00 in a report on Monday, July 13th. National Bank Financial upgraded shares of Ero Copper from a "hold" rating to a "strong-buy" rating and set a C$50.00 price objective on the stock in a report on Tuesday, May 5th. Finally, Bank of America upgraded Ero Copper from a "neutral" rating to a "buy" rating and increased their target price for the stock from C$41.00 to C$49.00 in a report on Thursday, July 16th. Three investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of C$47.40.

Ero Copper Price Performance

Shares of TSE:ERO traded up C$2.67 during trading on Tuesday, reaching C$37.98. 141,988 shares of the company traded hands, compared to its average volume of 511,794. Ero Copper has a 52 week low of C$17.66 and a 52 week high of C$53.69. The company's 50 day moving average is C$38.68 and its two-hundred day moving average is C$39.86. 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 firm has a market capitalization of C$3.96 billion, a PE ratio of 13.56, 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 company's stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of C$41.80, for a total value of C$418,000.00. Following the completion of the transaction, the director directly owned 200,000 shares in the company, valued at approximately C$8,360,000. This represents a 4.76% decrease in their position. Company 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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