Canoe Financial LP Invests $456,000 in Ero Copper Corp. (NYSE:ERO)

Canoe Financial LP 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 firm acquired 33,871 shares of the company's stock, valued at approximately $456,000.

A number of other hedge funds have also recently bought and sold shares of the business. Exchange Traded Concepts LLC acquired a new position in Ero Copper in the third quarter worth about $38,000. Toronto Dominion Bank lifted its stake in Ero Copper by 38.7% during the second quarter. Toronto Dominion Bank now owns 2,539 shares of the company's stock valued at $54,000 after buying an additional 709 shares in the last quarter. Sentry Investment Management LLC purchased a new stake in shares of Ero Copper in the third quarter valued at $457,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Ero Copper by 6.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,408 shares of the company's stock valued at $522,000 after purchasing an additional 1,475 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in shares of Ero Copper by 23.9% during the 3rd quarter. Janus Henderson Group PLC now owns 27,408 shares of the company's stock valued at $600,000 after acquiring an additional 5,286 shares in the last quarter. Institutional investors and hedge funds own 71.30% of the company's stock.

Ero Copper Trading Up 1.8 %

Shares of NYSE ERO traded up $0.25 during midday trading on Friday, reaching $14.15. 318,037 shares of the stock were exchanged, compared to its average volume of 342,052. Ero Copper Corp. has a 12 month low of $12.78 and a 12 month high of $24.34. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of 83.21 and a beta of 1.15. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.68 and a quick ratio of 0.45. The business has a 50-day simple moving average of $14.47 and a two-hundred day simple moving average of $18.20.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ERO. The Goldman Sachs Group initiated coverage on shares of Ero Copper in a research report on Monday, December 2nd. They issued a "buy" rating and a $19.00 price target on the stock. StockNews.com raised shares of Ero Copper from a "sell" rating to a "hold" rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently 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.