Ero Copper (TSE:ERO) Upgraded at Bank of America

Bank of America upgraded shares of Ero Copper (TSE:ERO) from a neutral rating to a buy rating in a research note issued to investors on Thursday,BayStreet.CA reports. Bank of America currently has C$49.00 target price on the stock, up from their previous target price of C$41.00.

A number of other equities research analysts also recently weighed in on the company. BMO Capital Markets upped their target price on Ero Copper from C$42.00 to C$48.00 in a research report on Wednesday, April 22nd. Scotiabank lifted their price target on Ero Copper from C$50.00 to C$55.00 and gave the company a “sector outperform” rating in a research report on Monday, June 15th. Jefferies Financial Group lowered their price target on Ero Copper from C$42.00 to C$39.00 in a research report on Monday, July 13th. TD dropped their price objective on Ero Copper from C$47.00 to C$44.00 and set a “hold” rating on the stock in a research note on Tuesday, July 14th. Finally, National Bank Financial upgraded Ero Copper from a “hold” rating to a “strong-buy” rating and set a C$50.00 price objective for the company in a report on Tuesday, May 5th. Three investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$45.86.

Ero Copper Trading Down 1.7%

Shares of TSE:ERO opened at C$33.89 on Thursday. The company has a 50 day moving average of C$38.77 and a 200-day moving average of C$39.87. The firm has a market cap of C$3.53 billion, a P/E ratio of 12.10, a P/E/G ratio of -0.72 and a beta of 1.78. Ero Copper has a twelve month low of C$17.66 and a twelve month high of C$53.69. The company has a current ratio of 1.30, a quick ratio of 1.43 and a debt-to-equity ratio of 54.96.

Insider Activity at Ero Copper

In other news, Director Lyle Braaten sold 10,000 shares of Ero Copper stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of C$41.80, for a total transaction of C$418,000.00. Following the transaction, the director owned 200,000 shares in the company, valued at approximately C$8,360,000. The trade was a 4.76% decrease in their ownership of the stock. 10.37% of the stock is currently owned by company insiders.

Ero Copper Company Profile

Ero is a Brazil -focused, growth-oriented mining company with a diversified portfolio of copper and gold assets. Headquartered in Vancouver, B.C., the Company operates two copper mines – the Caraíba Operations in Bahia State and the Tucumã Operation in Pará State – as well as the Xavantina Operations, a producing gold mine in Mato Grosso State. In addition to its operating assets, Ero is advancing the Furnas Copper-Gold Project, located in the mineral-rich Carajás Province in Pará State, through a definitive earn-in agreement with Vale Base Metals to acquire a 60% interest in the project.