William Blair Investment Management LLC Makes New Investment in Ero Copper Corp. $ERO

William Blair Investment Management LLC acquired a new position in shares of Ero Copper Corp. (NYSE:ERO) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 439,640 shares of the company’s stock, valued at approximately $11,760,000. William Blair Investment Management LLC owned 0.42% of Ero Copper at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. FIL Ltd raised its stake in shares of Ero Copper by 74.1% during the fourth 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. grew its position in Ero Copper by 602.9% in the 4th quarter. Hillsdale Investment Management Inc. now owns 1,685,445 shares of the company’s stock valued at $47,767,000 after buying an additional 1,445,645 shares during the last quarter. Vanguard Group Inc. grew its position in Ero Copper by 1,614.0% in the 3rd quarter. Vanguard Group Inc. now owns 1,434,428 shares of the company’s stock valued at $29,056,000 after buying an additional 1,350,738 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Ero Copper by 4,913.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 974,932 shares of the company’s stock valued at $26,000,000 after buying an additional 955,487 shares during the period. Finally, Bank of America Corp DE increased its stake 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 buying an additional 803,320 shares during the period. 71.30% of the stock is currently owned by hedge funds and other institutional investors.

Ero Copper Trading Up 9.4%

Shares of ERO stock opened at $39.41 on Friday. The business’s fifty day moving average price is $28.77 and its 200 day moving average price is $28.82. Ero Copper Corp. has a 1-year low of $13.80 and a 1-year high of $39.80. The firm has a market capitalization of $4.11 billion, a PE ratio of 13.22, a P/E/G ratio of 0.32 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 released its quarterly earnings data on Wednesday, August 5th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.09. Ero Copper had a return on equity of 30.32% and a net margin of 29.79%.The firm had revenue of $284.30 million during the quarter, compared to analysts’ expectations of $277.64 million. As a group, sell-side analysts forecast that Ero Copper Corp. will post 3.98 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. TD Securities restated a “hold” rating on shares of Ero Copper in a research report on Friday, August 7th. National Bank Financial raised shares of Ero Copper from a “sector perform” rating to an “outperform” rating in a report on Tuesday, May 5th. Jefferies Financial Group reiterated a “hold” rating on shares of Ero Copper in a research note on Monday, July 6th. Weiss Ratings reissued a “hold (c+)” rating on shares of Ero Copper in a report on Thursday, June 4th. Finally, Bradesco Corretora upgraded shares of Ero Copper to an “outperform” rating in a research report on Monday, July 20th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $32.33.

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.