James Investment Research Inc. purchased a new stake in Ero Copper Corp. (NYSE:ERO – Free Report) during the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 19,993 shares of the company’s stock, valued at approximately $533,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FIL Ltd raised its stake in shares of Ero Copper by 74.1% during the 4th quarter. FIL Ltd now owns 11,670,422 shares of the company’s stock valued at $330,161,000 after buying an additional 4,966,427 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Ero Copper by 10.7% in the fourth quarter. Invesco Ltd. now owns 2,827,385 shares of the company’s stock worth $79,987,000 after buying an additional 273,470 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Ero Copper by 77.6% in the fourth quarter. Vanguard Group Inc. now owns 2,546,856 shares of the company’s stock worth $72,051,000 after buying an additional 1,112,428 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Ero Copper by 11.1% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,507,087 shares of the company’s stock worth $50,794,000 after acquiring an additional 250,303 shares during the period. Finally, Bank of America Corp DE grew its holdings in Ero Copper by 82.6% during the second quarter. Bank of America Corp DE now owns 1,775,632 shares of the company’s stock worth $29,919,000 after acquiring an additional 803,320 shares during the period. 71.30% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on ERO shares. Scotiabank reissued an “outperform” rating on shares of Ero Copper in a report on Monday, June 15th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ero Copper in a research note on Thursday, June 4th. Wall Street Zen raised shares of Ero Copper from a “hold” rating to a “buy” rating in a report on Saturday, June 20th. The Goldman Sachs Group cut shares of Ero Copper from a “buy” rating to a “neutral” rating and decreased their target price for the company from $33.00 to $31.00 in a research note on Tuesday, April 14th. Finally, National Bank Financial raised shares of Ero Copper from a “sector perform” rating to an “outperform” rating in a report on Tuesday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $31.50.
Ero Copper Trading Up 1.8%
Shares of ERO stock opened at $26.17 on Friday. Ero Copper Corp. has a 1-year low of $12.79 and a 1-year high of $39.80. The company has a market cap of $2.73 billion, a price-to-earnings ratio of 9.31 and a beta of 1.20. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 0.81. The stock has a 50 day simple moving average of $28.07 and a 200-day simple moving average of $28.96.
Ero Copper (NYSE:ERO – Get Free Report) last released its quarterly earnings results on Monday, May 4th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.13. The firm had revenue of $263.20 million for the quarter, compared to analysts’ expectations of $245.51 million. Ero Copper had a net margin of 31.63% and a return on equity of 27.33%. On average, equities research analysts expect that Ero Copper Corp. will post 4.1 EPS for the current fiscal year.
About Ero Copper
Ero Copper Corp (NYSE: ERO) is a Canada-based natural resource company focused on the production of copper concentrate from its Brazilian operations. The company’s flagship asset is the Vale do Curaçá mining complex in the state of Bahia, which includes multiple underground mines and a centralized processing facility. Ero Copper’s primary product is copper concentrate, which is sold to smelters and end users around the world.
The Vale do Curaçá complex comprises the Pilar and Surubim underground mines, supported by a fully integrated processing plant.
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