The Manufacturers Life Insurance Company Buys Shares of 559,319 Ero Copper Corp. $ERO

The Manufacturers Life Insurance Company bought a new position in Ero Copper Corp. (NYSE:ERO) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 559,319 shares of the company’s stock, valued at approximately $14,905,000.

Several other institutional investors have also modified their holdings of the stock. Pictet Asset Management Holding SA boosted its position in shares of Ero Copper by 3.3% during the 4th quarter. Pictet Asset Management Holding SA now owns 18,103 shares of the company’s stock valued at $513,000 after acquiring an additional 574 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in Ero Copper by 3.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 32,833 shares of the company’s stock worth $933,000 after purchasing an additional 1,107 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Ero Copper during the fourth quarter worth about $38,000. Banque Cantonale Vaudoise raised its stake in Ero Copper by 20.0% during the first quarter. Banque Cantonale Vaudoise now owns 9,000 shares of the company’s stock worth $239,000 after purchasing an additional 1,500 shares during the period. Finally, Jain Global LLC raised its stake in Ero Copper by 12.7% during the fourth quarter. Jain Global LLC now owns 13,300 shares of the company’s stock worth $376,000 after purchasing an additional 1,500 shares during the period. Hedge funds and other institutional investors own 71.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ERO shares. Jefferies Financial Group reissued a “hold” rating on shares of Ero Copper in a research note on Monday, July 6th. Bradesco Corretora raised shares of Ero Copper to an “outperform” rating in a research report on Monday, July 20th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Ero Copper in a report on Thursday, June 4th. Scotiabank reiterated an “outperform” rating on shares of Ero Copper in a research report on Monday, June 15th. Finally, Zacks Research cut Ero Copper from a “hold” rating to a “strong sell” rating in a research note on Monday, August 17th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Ero Copper has a consensus rating of “Moderate Buy” and an average price target of $32.33.

Ero Copper Trading Down 2.4%

Shares of ERO stock opened at $38.88 on Friday. 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 firm has a market cap of $4.06 billion, a PE ratio of 13.05, a price-to-earnings-growth ratio of 0.32 and a beta of 1.21. The company has a 50-day moving average of $29.70 and a two-hundred day moving average of $29.02. 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 quarterly earnings results on Wednesday, August 5th. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. The business had revenue of $284.30 million during the quarter, compared to analysts’ expectations of $277.64 million. Ero Copper had a net margin of 29.79% and a return on equity of 30.32%. On average, analysts predict that Ero Copper Corp. will post 3.98 EPS 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.