Cibc World Market Inc. Has $1.03 Million Stock Holdings in Ero Copper Corp. $ERO

Cibc World Market Inc. raised its position in Ero Copper Corp. (NYSE:ERO) by 108.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,599 shares of the company’s stock after buying an additional 26,381 shares during the period. Cibc World Market Inc.’s holdings in Ero Copper were worth $1,025,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ERO. GMT Capital Corp raised its stake in shares of Ero Copper by 7.7% in the second quarter. GMT Capital Corp now owns 7,467,055 shares of the company’s stock valued at $125,865,000 after acquiring an additional 536,030 shares during the last quarter. Jennison Associates LLC increased its holdings in Ero Copper by 5.0% during the 2nd quarter. Jennison Associates LLC now owns 5,487,290 shares of the company’s stock valued at $92,651,000 after purchasing an additional 259,830 shares in the last quarter. Bank of America Corp DE raised its position in Ero Copper by 82.6% in the 2nd quarter. Bank of America Corp DE now owns 1,775,632 shares of the company’s stock valued at $29,919,000 after purchasing an additional 803,320 shares during the last quarter. Impala Asset Management LLC raised its position in Ero Copper by 3.0% in the 2nd quarter. Impala Asset Management LLC now owns 1,699,100 shares of the company’s stock valued at $28,494,000 after purchasing an additional 49,199 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Ero Copper by 119.3% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,628,030 shares of the company’s stock worth $27,515,000 after purchasing an additional 885,630 shares in the last quarter. Institutional investors and hedge funds own 71.30% of the company’s stock.

Analysts Set New Price Targets

ERO has been the topic of several research reports. Ventum Financial upgraded shares of Ero Copper to a “strong-buy” rating in a research report on Monday, November 3rd. Loop Capital set a $32.00 target price on shares of Ero Copper in a research report on Tuesday, December 30th. The Goldman Sachs Group increased their price target on shares of Ero Copper from $25.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, January 14th. Canaccord Genuity Group upgraded shares of Ero Copper from a “hold” rating to a “buy” rating in a research report on Wednesday, January 14th. Finally, TD Cowen reiterated a “hold” rating on shares of Ero Copper in a research report on Tuesday, October 21st. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.50.

Ero Copper Price Performance

Shares of ERO stock opened at $29.89 on Wednesday. The firm’s 50 day moving average price is $29.94 and its two-hundred day moving average price is $22.98. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.46 and a current ratio of 0.82. Ero Copper Corp. has a 52-week low of $9.30 and a 52-week high of $39.80. The stock has a market cap of $3.11 billion, a PE ratio of 22.47 and a beta of 1.20.

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.