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

Ero Copper (TSE:ERO) was downgraded by research analysts at Cibc World Mkts from a “strong-buy” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

Other research analysts have also issued research reports about the stock. Stifel Canada upgraded shares of Ero Copper to a “strong-buy” rating in a research report on Tuesday, July 8th. CIBC cut shares of Ero Copper from an “outperform” rating to a “neutral” rating and lifted their price objective for the stock from C$22.50 to C$37.00 in a research report on Friday. BMO Capital Markets lifted their price objective on shares of Ero Copper from C$24.00 to C$27.00 and gave the stock an “outperform” rating in a research report on Friday, July 4th. National Bankshares lifted their price objective on shares of Ero Copper from C$27.00 to C$35.00 and gave the stock a “sector perform” rating in a research report on Wednesday. Finally, Desjardins lowered their price objective 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. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Ero Copper presently has an average rating of “Moderate Buy” and an average target price of C$28.33.

Ero Copper Trading Down 5.6%

Ero Copper 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. The firm has a market cap of C$3.10 billion, a price-to-earnings ratio of 21.67, a price-to-earnings-growth ratio of -0.72 and a beta of 1.52. Ero Copper has a 1 year low of C$13.17 and a 1 year high of C$33.50. The firm’s 50 day moving average price is C$22.79 and its two-hundred day moving average price is C$20.29.

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.