Scotiabank Cuts Ero Copper (TSE:ERO) Price Target to C$30.00

Ero Copper (TSE:ERO) had its price objective cut by Scotiabank from C$34.00 to C$30.00 in a research report issued on Wednesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Scotiabank’s price objective would suggest a potential upside of 47.42% from the company’s current price.

Several other equities analysts have also commented on the stock. TD Securities decreased 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. National Bankshares reduced their price target 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. The Goldman Sachs Group upgraded shares of Ero Copper to a “strong-buy” rating in a research note on Monday, December 2nd. Jefferies Financial Group reduced their price target on shares of Ero Copper from C$35.00 to C$34.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Finally, Canaccord Genuity Group raised their price target on shares of Ero Copper from C$39.00 to C$40.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Four analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$33.33.

Ero Copper Price Performance

ERO stock traded up C$0.32 during mid-day trading on Wednesday, hitting C$20.35. The stock had a trading volume of 257,887 shares, compared to its average volume of 307,550. The company has a current ratio of 0.68, a quick ratio of 1.43 and a debt-to-equity ratio of 82.63. Ero Copper has a 52 week low of C$17.97 and a 52 week high of C$32.89. The firm has a market capitalization of C$2.10 billion, a P/E ratio of -78.38, a P/E/G ratio of -0.72 and a beta of 1.98. The firm has a fifty day simple moving average of C$24.86 and a 200 day simple moving average of C$27.09.

Insiders Place Their Bets

In other news, Director Chantal Gosselin sold 10,000 shares of Ero Copper stock in a transaction on Thursday, November 28th. The shares were sold at an average price of C$21.17, for a total value of C$211,700.00. Company insiders own 10.37% of the company’s stock.

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.