Ero Copper Corp. $ERO Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its stake in Ero Copper Corp. (NYSE:ERO) by 48.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,774 shares of the company’s stock after acquiring an additional 27,519 shares during the period. Envestnet Asset Management Inc. owned 0.08% of Ero Copper worth $1,695,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Olympiad Research LP bought a new stake in shares of Ero Copper in the 3rd quarter worth about $248,000. Rathbones Group PLC lifted its position in shares of Ero Copper by 19.3% during the second quarter. Rathbones Group PLC now owns 15,903 shares of the company’s stock worth $268,000 after purchasing an additional 2,570 shares during the last quarter. TD Waterhouse Canada Inc. grew its stake in Ero Copper by 75.2% in the third quarter. TD Waterhouse Canada Inc. now owns 17,472 shares of the company’s stock worth $360,000 after purchasing an additional 7,500 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Ero Copper in the first quarter worth about $217,000. Finally, Bluefin Capital Management LLC bought a new stake in Ero Copper in the second quarter valued at about $304,000. 71.30% of the stock is currently owned by institutional investors.

Ero Copper Trading Down 0.7%

NYSE:ERO opened at $34.20 on Friday. The firm has a market capitalization of $3.56 billion, a P/E ratio of 25.71 and a beta of 1.20. The business has a 50 day simple moving average of $31.02 and a 200 day simple moving average of $23.95. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.82 and a quick ratio of 0.46. Ero Copper Corp. has a 12-month low of $9.30 and a 12-month high of $39.80.

Analyst Ratings Changes

Several analysts have issued reports on ERO shares. Wall Street Zen cut Ero Copper from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Canaccord Genuity Group upgraded Ero Copper from a “hold” rating to a “buy” rating in a report on Wednesday, January 14th. Loop Capital set a $32.00 price objective on Ero Copper in a research note on Tuesday, December 30th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Ero Copper in a report on Friday, December 5th. Finally, Zacks Research lowered shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 12th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $32.50.

Ero Copper Company 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.