Connor Clark & Lunn Investment Management Ltd. Buys New Holdings in Ero Copper Corp. $ERO

Connor Clark & Lunn Investment Management Ltd. purchased a new position in Ero Copper Corp. (NYSE:ERO) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 745,511 shares of the company’s stock, valued at approximately $19,887,000. Connor Clark & Lunn Investment Management Ltd. owned 0.71% of Ero Copper at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Ero Copper in the 4th quarter valued at $38,000. Kestra Advisory Services LLC purchased a new position in shares of Ero Copper during the fourth quarter worth $56,000. Banque Cantonale Vaudoise purchased a new position in shares of Ero Copper during the third quarter worth $111,000. Barclays PLC raised its holdings in shares of Ero Copper by 1,243.1% during the fourth quarter. Barclays PLC now owns 7,508 shares of the company’s stock worth $212,000 after purchasing an additional 6,949 shares during the last quarter. Finally, State of Tennessee Department of Treasury acquired a new position in Ero Copper during the fourth quarter valued at $221,000. 71.30% of the stock is owned by hedge funds and other institutional investors.

Ero Copper Trading Up 4.9%

Shares of Ero Copper stock opened at $40.42 on Wednesday. The firm has a 50-day simple moving average of $29.13 and a two-hundred day simple moving average of $28.83. The company has a market cap of $4.22 billion, a P/E ratio of 13.56, a price-to-earnings-growth ratio of 0.31 and a beta of 1.21. Ero Copper Corp. has a fifty-two week low of $13.91 and a fifty-two week high of $40.54. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.81 and a current ratio of 1.30.

Ero Copper (NYSE:ERO) last posted its earnings results on Wednesday, August 5th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.09. Ero Copper had a net margin of 29.79% and a return on equity of 30.32%. The business had revenue of $284.30 million for the quarter, compared to analyst estimates of $277.64 million. As a group, equities analysts predict that Ero Copper Corp. will post 3.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. National Bank Financial raised shares of Ero Copper from a “sector perform” rating to an “outperform” rating in a report on Tuesday, May 5th. Scotiabank restated an “outperform” rating on shares of Ero Copper in a research note on Monday, June 15th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Ero Copper in a report on Monday, July 6th. Zacks Research downgraded Ero Copper from a “hold” rating to a “strong sell” rating in a report on Monday, August 17th. Finally, Wall Street Zen upgraded Ero Copper from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Ero Copper presently has an average rating of “Moderate Buy” and an average target price of $32.33.

Ero Copper Profile

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.