Ninepoint Partners LP Takes Position in Ero Copper Corp. $ERO

Ninepoint Partners LP bought a new position in Ero Copper Corp. (NYSE:ERO) in the 2nd quarter, HoldingsChannel reports. The fund bought 25,000 shares of the company’s stock, valued at approximately $669,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new stake in Ero Copper during the 4th quarter worth about $38,000. Kestra Advisory Services LLC acquired a new position in shares of Ero Copper in the 4th quarter valued at about $56,000. Banque Cantonale Vaudoise purchased a new stake in shares of Ero Copper in the third quarter worth approximately $111,000. Barclays PLC lifted its position in shares of Ero Copper by 1,243.1% in the fourth quarter. Barclays PLC now owns 7,508 shares of the company’s stock worth $212,000 after purchasing an additional 6,949 shares in the last quarter. Finally, State of Tennessee Department of Treasury purchased a new stake in shares of Ero Copper in the fourth quarter worth approximately $221,000. Hedge funds and other institutional investors own 71.30% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Scotiabank reaffirmed an “outperform” rating on shares of Ero Copper in a research report on Monday, June 15th. TD Securities reiterated a “hold” rating on shares of Ero Copper in a research report on Friday, August 7th. Wall Street Zen raised shares of Ero Copper from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. National Bank Financial upgraded shares of Ero Copper from a “sector perform” rating to an “outperform” rating in a report on Tuesday, May 5th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Ero Copper in a research note on Monday, July 6th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Ero Copper presently has an average rating of “Moderate Buy” and an average price target of $32.33.

Ero Copper Price Performance

Shares of NYSE:ERO opened at $36.02 on Friday. Ero Copper Corp. has a fifty-two week low of $13.55 and a fifty-two week high of $39.80. The business has a 50-day moving average of $28.57 and a two-hundred day moving average of $28.75. The stock has a market capitalization of $3.76 billion, a P/E ratio of 12.09, a P/E/G ratio of 0.27 and a beta of 1.21. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 0.81.

Ero Copper (NYSE:ERO) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. The business had revenue of $284.30 million for the quarter, compared to analyst estimates of $277.64 million. Ero Copper had a return on equity of 30.32% and a net margin of 29.79%. On average, equities research analysts predict that Ero Copper Corp. will post 4.02 EPS for the current fiscal year.

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.