Ero Copper Corp. $ERO Shares Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company grew its position in Ero Copper Corp. (NYSE:ERO) by 315.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 722,853 shares of the company’s stock after purchasing an additional 549,038 shares during the period. The Manufacturers Life Insurance Company’s holdings in Ero Copper were worth $19,241,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. 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. increased its position 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 valued at $79,987,000 after buying an additional 273,470 shares in the last quarter. Vanguard Group Inc. raised its position in Ero Copper by 77.6% during the fourth quarter. Vanguard Group Inc. now owns 2,546,856 shares of the company’s stock worth $72,051,000 after acquiring an additional 1,112,428 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Ero Copper by 11.1% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,507,087 shares of the company’s stock worth $50,794,000 after purchasing an additional 250,303 shares during the last quarter. Finally, Cape Ann Asset Management Ltd increased its stake in Ero Copper by 13.5% during the 1st quarter. Cape Ann Asset Management Ltd now owns 1,949,128 shares of the company’s stock worth $51,983,000 after buying an additional 231,485 shares in the last quarter. Hedge funds and other institutional investors own 71.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ERO shares. Bank of America upgraded Ero Copper from a “neutral” rating to a “buy” rating and raised their target price for the company from $30.00 to $34.00 in a research report on Thursday, July 16th. Bradesco Corretora raised Ero Copper to an “outperform” rating in a research note on Monday, July 20th. Jefferies Financial Group restated a “hold” rating on shares of Ero Copper in a report on Monday, July 6th. National Bank Financial raised shares of Ero Copper from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ero Copper in a report on Thursday, June 4th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.33.

Ero Copper Price Performance

ERO stock opened at $26.88 on Friday. The business has a fifty day moving average of $27.26 and a two-hundred day moving average of $28.66. The company has a quick ratio of 0.81, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 9.56, a price-to-earnings-growth ratio of 0.21 and a beta of 1.20. Ero Copper Corp. has a 52-week low of $12.79 and a 52-week high of $39.80.

Ero Copper (NYSE:ERO) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.13. The firm had revenue of $263.20 million for the quarter, compared to analyst estimates of $245.51 million. Ero Copper had a net margin of 31.63% and a return on equity of 27.33%. As a group, research analysts anticipate that Ero Copper Corp. will post 4.02 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.