Raymond James Financial Inc. Makes New Investment in Ero Copper Corp. (NYSE:ERO)

Raymond James Financial Inc. acquired a new stake in shares of Ero Copper Corp. (NYSE:ERO - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 73,550 shares of the company's stock, valued at approximately $991,000. Raymond James Financial Inc. owned 0.07% of Ero Copper at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Toronto Dominion Bank increased its stake in shares of Ero Copper by 2,172.6% in the third quarter. Toronto Dominion Bank now owns 57,702 shares of the company's stock valued at $1,285,000 after purchasing an additional 55,163 shares during the period. Jennison Associates LLC grew its holdings in Ero Copper by 3.5% in the 4th quarter. Jennison Associates LLC now owns 5,909,627 shares of the company's stock worth $79,645,000 after buying an additional 198,800 shares in the last quarter. Canoe Financial LP acquired a new stake in Ero Copper in the 4th quarter valued at approximately $456,000. Montrusco Bolton Investments Inc. raised its stake in Ero Copper by 3.9% during the 4th quarter. Montrusco Bolton Investments Inc. now owns 775,356 shares of the company's stock valued at $10,448,000 after acquiring an additional 28,999 shares in the last quarter. Finally, Sprott Inc. boosted its position in Ero Copper by 42.2% during the 4th quarter. Sprott Inc. now owns 455,289 shares of the company's stock worth $6,137,000 after acquiring an additional 135,049 shares during the period. 71.30% of the stock is currently owned by institutional investors.

Ero Copper Stock Performance

ERO traded down $0.48 during trading on Tuesday, hitting $9.62. The stock had a trading volume of 583,774 shares, compared to its average volume of 393,296. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 0.71. Ero Copper Corp. has a 12 month low of $9.37 and a 12 month high of $24.34. The company has a 50 day simple moving average of $12.75 and a 200-day simple moving average of $15.23. The firm has a market cap of $995.76 million, a PE ratio of 56.56 and a beta of 1.10.

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Ero Copper (NYSE:ERO - Get Free Report) last posted its quarterly earnings data on Thursday, March 6th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.04). Ero Copper had a return on equity of 11.30% and a net margin of 3.67%. The business had revenue of $122.50 million for the quarter, compared to analyst estimates of $183.26 million. Analysts expect that Ero Copper Corp. will post 0.71 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ERO. TD Securities raised Ero Copper from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 12th. Desjardins started coverage on shares of Ero Copper in a report on Friday. They issued a "hold" rating for the company. Raymond James reissued an "outperform" rating on shares of Ero Copper in a report on Friday. Finally, TD Cowen upgraded Ero Copper from a "hold" rating to a "buy" rating in a report on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Ero Copper has a consensus rating of "Buy" and a consensus target price of $26.33.

Ero Copper Profile

Ero Copper Corp. engages in the exploration, development, and production of mining projects in Brazil. The company is involved in the production and sale of copper concentrate from the Caraíba operations located in the Curaçá Valley, northeastern Bahia state, Brazil, as well as gold and silver by-products.