Royal Bank Of Canada Issues Positive Forecast for Ero Copper (TSE:ERO) Stock Price

Ero Copper (TSE:ERO) had its price target boosted by stock analysts at Royal Bank Of Canada from C$52.00 to C$53.00 in a note issued to investors on Tuesday,BayStreet.CA reports. Royal Bank Of Canada’s target price would suggest a potential upside of 39.55% from the stock’s current price.

A number of other research firms have also weighed in on ERO. National Bank Financial raised Ero Copper from a “hold” rating to a “strong-buy” rating and set a C$50.00 price objective for the company in a research note on Tuesday, May 5th. Scotiabank boosted their target price on shares of Ero Copper from C$50.00 to C$55.00 and gave the stock a “sector outperform” rating in a report on Monday, June 15th. Bank of America raised shares of Ero Copper from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from C$41.00 to C$49.00 in a research note on Thursday, July 16th. TD cut their target price 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, The Goldman Sachs Group downgraded shares of Ero Copper from a “buy” rating to a “hold” rating and set a C$31.00 price target on the stock. in a research note on Monday, April 13th. Three equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, Ero Copper presently has a consensus rating of “Moderate Buy” and an average price target of C$47.40.

Ero Copper Stock Performance

ERO stock traded up C$2.67 during trading on Tuesday, reaching C$37.98. The stock had a trading volume of 141,988 shares, compared to its average volume of 511,794. The company has a current ratio of 1.30, a quick ratio of 1.43 and a debt-to-equity ratio of 54.96. The firm has a market cap of C$3.96 billion, a PE ratio of 13.56, a PEG ratio of -0.72 and a beta of 1.78. The stock’s 50 day moving average is C$38.68 and its two-hundred day moving average is C$39.86. Ero Copper has a 52 week low of C$17.66 and a 52 week high of C$53.69.

Insider Activity at Ero Copper

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