Scotiabank Forecasts Strong Price Appreciation for Ero Copper (TSE:ERO) Stock

Ero Copper (TSE:ERO - Get Free Report) had its target price raised by Scotiabank from C$24.00 to C$26.00 in a note issued to investors on Monday,BayStreet.CA reports. Scotiabank's price objective points to a potential upside of 21.95% from the company's previous close.

A number of other research firms have also issued reports on ERO. BMO Capital Markets raised Ero Copper to a "strong-buy" rating in a research note on Wednesday, April 16th. Desjardins upgraded Ero Copper to a "hold" rating in a research report on Thursday, April 3rd. TD Securities increased their price objective on Ero Copper from C$20.00 to C$22.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Jefferies Financial Group cut their target price on shares of Ero Copper from C$25.00 to C$22.00 in a research note on Friday, April 4th. Finally, National Bankshares upgraded shares of Ero Copper from a "sector perform" rating to an "outperform" rating and upped their target price for the company from C$21.50 to C$23.00 in a report on Wednesday, May 7th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat, Ero Copper currently has a consensus rating of "Buy" and a consensus price target of C$29.91.

Ero Copper Price Performance

Shares of TSE:ERO traded up C$0.91 during midday trading on Monday, hitting C$21.32. 149,276 shares of the stock were exchanged, compared to its average volume of 347,778. Ero Copper has a twelve month low of C$13.17 and a twelve month high of C$31.73. The company has a current ratio of 0.68, a quick ratio of 1.43 and a debt-to-equity ratio of 83.17. The company has a 50 day moving average price of C$18.16 and a 200-day moving average price of C$18.81. The stock has a market cap of C$1.50 billion, a P/E ratio of 93.27, a PEG ratio of -0.72 and a beta of 1.98.

About Ero Copper

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.