Ero Copper Corp. $ERO Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp increased its position in shares of Ero Copper Corp. (NYSE:ERO) by 22.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 111,171 shares of the company’s stock after buying an additional 20,698 shares during the period. Van ECK Associates Corp owned 0.11% of Ero Copper worth $2,974,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ERO. Royal Bank of Canada boosted its stake in shares of Ero Copper by 2.3% during the 1st quarter. Royal Bank of Canada now owns 188,384 shares of the company’s stock worth $2,283,000 after acquiring an additional 4,325 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Ero Copper in the first quarter valued at approximately $217,000. Goldman Sachs Group Inc. grew its holdings in Ero Copper by 82.0% in the first quarter. Goldman Sachs Group Inc. now owns 275,598 shares of the company’s stock valued at $3,340,000 after purchasing an additional 124,179 shares during the period. Empowered Funds LLC purchased a new stake in shares of Ero Copper in the first quarter valued at approximately $356,000. Finally, Geode Capital Management LLC increased its position in shares of Ero Copper by 3.4% in the second quarter. Geode Capital Management LLC now owns 55,170 shares of the company’s stock valued at $936,000 after buying an additional 1,823 shares in the last quarter. Hedge funds and other institutional investors own 71.30% of the company’s stock.

Ero Copper Stock Performance

Shares of Ero Copper stock opened at $35.29 on Friday. The business’s 50 day moving average price is $30.31 and its 200 day moving average price is $29.14. The company has a market cap of $3.68 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 0.28 and a beta of 1.27. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.81 and a current ratio of 1.30. Ero Copper Corp. has a one year low of $14.35 and a one year high of $40.83.

Ero Copper (NYSE:ERO) last issued its earnings results on Wednesday, August 5th. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. The business had revenue of $284.30 million during the quarter, compared to the consensus estimate of $277.64 million. Ero Copper had a return on equity of 30.32% and a net margin of 29.79%. On average, research analysts predict that Ero Copper Corp. will post 3.98 EPS for the current year.

Wall Street Analysts Forecast Growth

ERO has been the topic of a number of recent analyst reports. Bank of America upgraded Ero Copper from a “neutral” rating to a “buy” rating and increased their target price for the company from $30.00 to $34.00 in a research report on Thursday, July 16th. Weiss Ratings restated a “hold (c+)” rating on shares of Ero Copper in a research report on Tuesday. TD Securities reaffirmed a “hold” rating on shares of Ero Copper in a report on Friday, August 7th. Wall Street Zen lowered shares of Ero Copper from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th. Finally, Zacks Research cut shares of Ero Copper from a “hold” rating to a “strong sell” rating in a research note on Monday, August 17th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $32.33.

Ero Copper 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.