PCJ Investment Counsel Ltd. Takes $695,000 Position in Ero Copper Corp. $ERO

PCJ Investment Counsel Ltd. bought a new position in shares of Ero Copper Corp. (NYSE:ERO) in the third quarter, HoldingsChannel reports. The firm bought 34,340 shares of the company’s stock, valued at approximately $695,000.

A number of other large investors have also recently added to or reduced their stakes in ERO. Mackenzie Financial Corp grew its holdings in shares of Ero Copper by 11.1% during the third quarter. Mackenzie Financial Corp now owns 59,775 shares of the company’s stock worth $1,211,000 after buying an additional 5,953 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Ero Copper by 1.3% in the third quarter. Franklin Resources Inc. now owns 456,572 shares of the company’s stock valued at $9,246,000 after purchasing an additional 5,872 shares during the last quarter. Van ECK Associates Corp grew its position in Ero Copper by 527.2% in the third quarter. Van ECK Associates Corp now owns 534,948 shares of the company’s stock valued at $10,833,000 after purchasing an additional 449,659 shares in the last quarter. Legal & General Group Plc increased its stake in Ero Copper by 21.5% in the 3rd quarter. Legal & General Group Plc now owns 122,025 shares of the company’s stock valued at $2,472,000 after buying an additional 21,623 shares during the last quarter. Finally, Banque Cantonale Vaudoise acquired a new stake in Ero Copper in the 3rd quarter valued at $111,000. Institutional investors own 71.30% of the company’s stock.

Ero Copper Price Performance

Ero Copper stock opened at $28.05 on Wednesday. The company has a market capitalization of $2.92 billion, a price-to-earnings ratio of 11.04 and a beta of 1.17. The company has a current ratio of 0.82, a quick ratio of 0.46 and a debt-to-equity ratio of 0.64. Ero Copper Corp. has a 12 month low of $9.30 and a 12 month high of $39.80. The stock’s 50 day moving average is $31.33 and its 200-day moving average is $24.80.

Ero Copper (NYSE:ERO) last announced its earnings results on Thursday, March 5th. The company reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.02). The business had revenue of $320.20 million during the quarter, compared to the consensus estimate of $430.46 million. Ero Copper had a net margin of 33.56% and a return on equity of 27.09%. Equities research analysts expect that Ero Copper Corp. will post 0.71 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ERO shares. Zacks Research downgraded Ero Copper from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 12th. Loop Capital set a $32.00 price objective on Ero Copper in a research note on Tuesday, December 30th. Bank of America downgraded shares of Ero Copper from a “buy” rating to a “neutral” rating in a report on Monday, February 9th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Ero Copper in a research note on Friday, December 5th. Finally, Jefferies Financial Group lowered shares of Ero Copper from a “buy” rating to a “hold” rating in a research note on Sunday, December 7th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have assigned a Hold 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 $32.50.

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.