Ero Copper Corp. $ERO Shares Purchased by Cape Ann Asset Management Ltd

Cape Ann Asset Management Ltd raised its position in shares of Ero Copper Corp. (NYSE:ERO) by 13.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,949,128 shares of the company’s stock after acquiring an additional 231,485 shares during the period. Ero Copper makes up approximately 11.8% of Cape Ann Asset Management Ltd’s investment portfolio, making the stock its 3rd largest position. Cape Ann Asset Management Ltd’s holdings in Ero Copper were worth $51,983,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ERO. FIL Ltd lifted its holdings in Ero Copper by 74.1% during the 4th quarter. FIL Ltd now owns 11,670,422 shares of the company’s stock worth $330,161,000 after purchasing an additional 4,966,427 shares during the last quarter. Hillsdale Investment Management Inc. increased its position in Ero Copper by 602.9% during the 4th quarter. Hillsdale Investment Management Inc. now owns 1,685,445 shares of the company’s stock worth $47,767,000 after buying an additional 1,445,645 shares during the period. Vanguard Group Inc. increased its position in Ero Copper by 1,614.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,434,428 shares of the company’s stock worth $29,056,000 after buying an additional 1,350,738 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Ero Copper by 4,913.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 974,932 shares of the company’s stock worth $26,000,000 after buying an additional 955,487 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Ero Copper by 82.6% in the second quarter. Bank of America Corp DE now owns 1,775,632 shares of the company’s stock valued at $29,919,000 after acquiring an additional 803,320 shares during the period. Institutional investors and hedge funds own 71.30% of the company’s stock.

Ero Copper Price Performance

ERO stock opened at $25.97 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. Ero Copper Corp. has a 12 month low of $12.79 and a 12 month high of $39.80. The firm has a market cap of $2.71 billion, a P/E ratio of 9.24, a P/E/G ratio of 0.21 and a beta of 1.20. The company’s 50-day moving average price is $27.32 and its two-hundred day moving average price is $28.78.

Ero Copper (NYSE:ERO) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.13. The business 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%. On average, analysts anticipate that Ero Copper Corp. will post 3.98 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ERO has been the topic of several research reports. The Goldman Sachs Group downgraded shares of Ero Copper from a “buy” rating to a “neutral” rating and decreased their price target for the company from $33.00 to $31.00 in a research note on Tuesday, April 14th. Bank of America raised shares of Ero Copper from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $30.00 to $34.00 in a report on Thursday, July 16th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ero Copper in a report on Thursday, June 4th. Wall Street Zen downgraded shares of Ero Copper from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, National Bank Financial upgraded Ero Copper from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.33.

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.