Ero Copper (TSE:ERO) Rating Increased to Buy at TD Securities

Ero Copper (TSE:ERO) was upgraded by research analysts at TD Securities from a “hold” rating to a “buy” rating in a report released on Wednesday,BayStreet.CA reports. The firm presently has a C$23.00 price objective on the stock, down from their previous price objective of C$26.00. TD Securities’ target price would suggest a potential upside of 18.86% from the stock’s previous close.

Several other brokerages have also commented on ERO. Scotiabank decreased their price target on Ero Copper from C$28.50 to C$25.00 and set an “outperform” rating on the stock in a research note on Wednesday. Eight Capital cut their price target on Ero Copper from C$40.00 to C$34.00 in a report on Wednesday, November 6th. Jefferies Financial Group cut their price target on Ero Copper from C$33.00 to C$29.00 in a report on Tuesday, January 7th. The Goldman Sachs Group upgraded Ero Copper to a “strong-buy” rating in a report on Monday, December 2nd. Finally, Ventum Financial dropped their price objective on Ero Copper from C$31.50 to C$29.00 in a report on Thursday, November 21st. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$30.38.

Ero Copper Stock Performance

ERO traded up C$0.72 during trading on Wednesday, reaching C$19.35. The company’s stock had a trading volume of 760,043 shares, compared to its average volume of 354,345. Ero Copper has a 52-week low of C$18.16 and a 52-week high of C$32.89. The company’s fifty day moving average price is C$19.86 and its 200-day moving average price is C$24.10. The company has a market capitalization of C$2.00 billion, a price-to-earnings ratio of -74.42, a price-to-earnings-growth ratio of -0.72 and a beta of 1.98. The company has a debt-to-equity ratio of 82.63, a quick ratio of 1.43 and a current ratio of 0.68.

Insider Buying and Selling at Ero Copper

In related news, Director Chantal Gosselin purchased 10,000 shares of Ero Copper stock in a transaction dated Friday, December 27th. The shares were acquired at an average price of C$19.44 per share, with a total value of C$194,400.00. 10.37% of the stock is currently owned by corporate insiders.

Ero Copper Company Profile

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.