National Bankshares Issues Pessimistic Forecast for Ero Copper (TSE:ERO) Stock Price

Ero Copper (TSE:ERO) had its target price cut by research analysts at National Bankshares from C$27.00 to C$23.50 in a research report issued on Wednesday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. National Bankshares’ price objective points to a potential upside of 21.45% from the stock’s current price.

ERO has been the topic of several other reports. The Goldman Sachs Group upgraded shares of Ero Copper to a “strong-buy” rating in a research report on Monday, December 2nd. Raymond James decreased their price objective on shares of Ero Copper from C$29.00 to C$28.00 and set an “outperform” rating on the stock in a research report on Wednesday. Jefferies Financial Group decreased their price objective on shares of Ero Copper from C$33.00 to C$29.00 in a research report on Tuesday, January 7th. Eight Capital decreased their price objective on shares of Ero Copper from C$40.00 to C$34.00 in a research report on Wednesday, November 6th. Finally, Canaccord Genuity Group decreased their price objective on shares of Ero Copper from C$29.00 to C$25.00 and set a “buy” rating on the stock in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus 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, hitting C$19.35. The company’s stock had a trading volume of 760,043 shares, compared to its average volume of 354,345. The company has a quick ratio of 1.43, a current ratio of 0.68 and a debt-to-equity ratio of 82.63. Ero Copper has a one year low of C$18.16 and a one year high of C$32.89. The firm has a market cap of C$2.00 billion, a PE ratio of -74.42, a P/E/G ratio of -0.72 and a beta of 1.98. The business’s 50 day simple moving average is C$19.86 and its 200-day simple moving average is C$24.10.

Insiders Place Their Bets

In other Ero Copper news, Director Chantal Gosselin acquired 10,000 shares of the company’s stock in a transaction 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. Corporate 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.