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

Van ECK Associates Corp raised its holdings in Ero Copper Corp. (NYSE:ERO) by 22.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 111,171 shares of the company’s stock after purchasing an additional 20,698 shares during the quarter. Van ECK Associates Corp’s holdings in Ero Copper were worth $2,974,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Caitong International Asset Management Co. Ltd purchased a new stake in Ero Copper in the 4th quarter valued at about $38,000. PenderFund Capital Management Ltd. purchased a new position in Ero Copper during the second quarter worth about $39,000. Kestra Advisory Services LLC acquired a new stake in shares of Ero Copper during the fourth quarter valued at about $56,000. Banque Cantonale Vaudoise acquired a new stake in shares of Ero Copper during the third quarter valued at about $111,000. Finally, Shay Capital LLC purchased a new stake in shares of Ero Copper in the 3rd quarter valued at approximately $202,000. Institutional investors and hedge funds own 71.30% of the company’s stock.

Ero Copper Stock Up 1.5%

ERO stock opened at $35.29 on Friday. 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 Corp. has a 12 month low of $14.35 and a 12 month high of $40.83. The firm has a market capitalization of $3.68 billion, a PE ratio of 11.84, a P/E/G ratio of 0.28 and a beta of 1.27. The company’s 50 day simple moving average is $30.31 and its 200-day simple moving average is $29.14.

Ero Copper (NYSE:ERO) last announced its earnings results on Wednesday, August 5th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. The firm had revenue of $284.30 million for the quarter, compared to analysts’ expectations of $277.64 million. Ero Copper had a return on equity of 30.32% and a net margin of 29.79%. Equities analysts expect that Ero Copper Corp. will post 3.98 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ERO. Zacks Research cut shares of Ero Copper from a “hold” rating to a “strong sell” rating in a research report on Monday, August 17th. Bank of America upgraded shares of Ero Copper from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $30.00 to $34.00 in a research note on Thursday, July 16th. Jefferies Financial Group restated a “hold” rating on shares of Ero Copper in a research report on Monday, July 6th. Wall Street Zen lowered Ero Copper from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Ero Copper in a research report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Ero Copper presently has an average rating of “Hold” and an average 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.