Scotiabank Cuts Ero Copper (TSE:ERO) Price Target to C$25.00

Ero Copper (TSE:ERO) had its price target cut by stock analysts at Scotiabank from C$28.50 to C$25.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Scotiabank’s price target would suggest a potential upside of 29.20% from the stock’s current price.

ERO has been the topic of several other research reports. TD Securities lowered their target price on shares of Ero Copper from C$30.00 to C$27.00 and set a “hold” rating on the stock in a report on Thursday, November 7th. Ventum Financial decreased their price objective on shares of Ero Copper from C$31.50 to C$29.00 in a report on Thursday, November 21st. Jefferies Financial Group decreased their price objective on shares of Ero Copper from C$33.00 to C$29.00 in a report on Tuesday, January 7th. National Bankshares reduced their target price on shares of Ero Copper from C$33.00 to C$31.50 and set a “sector perform” rating on the stock in a research note on Tuesday, October 15th. Finally, The Goldman Sachs Group raised shares of Ero Copper to a “strong-buy” rating in a research note on Monday, December 2nd. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Ero Copper currently has a consensus rating of “Moderate Buy” and a consensus price target of C$30.38.

Ero Copper Stock Performance

Shares of Ero Copper stock traded up C$0.72 on Wednesday, reaching C$19.35. The stock had a trading volume of 760,043 shares, compared to its average volume of 354,345. The stock has a market cap of C$2.00 billion, a P/E ratio of -74.42, a price-to-earnings-growth ratio of -0.72 and a beta of 1.98. Ero Copper has a fifty-two week low of C$18.16 and a fifty-two week high of C$32.89. The business’s 50-day moving average price is C$19.86 and its two-hundred day moving average price is C$24.10. The company has a debt-to-equity ratio of 82.63, a quick ratio of 1.43 and a current ratio of 0.68.

Insiders Place Their Bets

In related news, Director Chantal Gosselin purchased 10,000 shares of the stock in a transaction that occurred on Friday, December 27th. The stock was acquired at an average cost of C$19.44 per share, with a total value of C$194,400.00. Company insiders own 10.37% of the company’s stock.

About Ero Copper

Ero Copper Corp. engages in the exploration, development, and production of mining projects in Brazil. The company is involved in the production and sale of copper concentrate from the Caraíba operations located in the Curaçá Valley, northeastern Bahia state, Brazil, as well as gold and silver by-products.