Cibc World Market Inc. Purchases New Position in Ero Copper Corp. $ERO

Cibc World Market Inc. purchased a new stake in shares of Ero Copper Corp. (NYSE:ERO) in the second quarter, according to the company in its most recent filing with the SEC. The fund purchased 58,575 shares of the company’s stock, valued at approximately $1,563,000. Cibc World Market Inc. owned about 0.06% of Ero Copper as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Ero Copper in the fourth quarter worth approximately $38,000. Kestra Advisory Services LLC purchased a new position in shares of Ero Copper during the fourth quarter valued at approximately $56,000. Banque Cantonale Vaudoise purchased a new position in shares of Ero Copper during the third quarter valued at approximately $111,000. Barclays PLC grew its holdings in 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 buying an additional 6,949 shares in the last quarter. Finally, State of Tennessee Department of Treasury bought a new stake in Ero Copper during the fourth quarter worth $221,000. 71.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ERO. Scotiabank restated an “outperform” rating on shares of Ero Copper in a research note on Monday, June 15th. National Bank Financial upgraded shares of Ero Copper from a “sector perform” rating to an “outperform” rating in a report on Tuesday, May 5th. Zacks Research lowered shares of Ero Copper from a “hold” rating to a “strong sell” rating in a research report on Monday, August 17th. Bradesco Corretora upgraded shares of Ero Copper to an “outperform” rating in a report on Monday, July 20th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Ero Copper in a report on Thursday, June 4th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.33.

Ero Copper Stock Up 1.5%

Shares of NYSE:ERO opened at $39.81 on Friday. The company has a market capitalization of $4.15 billion, a PE ratio of 13.36, a price-to-earnings-growth ratio of 0.31 and a beta of 1.21. 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 business has a fifty day moving average price of $29.51 and a two-hundred day moving average price of $28.95. Ero Copper Corp. has a 1 year low of $13.91 and a 1 year high of $40.83.

Ero Copper (NYSE:ERO) last announced its earnings results on Wednesday, August 5th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.09. The firm had revenue of $284.30 million during the quarter, compared to analyst estimates of $277.64 million. Ero Copper had a return on equity of 30.32% and a net margin of 29.79%. Analysts forecast that Ero Copper Corp. will post 3.98 earnings per share for the current 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.