Scotia Capital Inc. raised its position in Ero Copper Corp. (NYSE:ERO - Free Report) by 14.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 262,331 shares of the company's stock after purchasing an additional 32,785 shares during the period. Scotia Capital Inc. owned 0.25% of Ero Copper worth $3,517,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Jennison Associates LLC increased its stake 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 acquiring an additional 198,800 shares during the last quarter. Invesco Ltd. increased its position in shares of Ero Copper by 22.6% in the fourth quarter. Invesco Ltd. now owns 3,890,977 shares of the company's stock worth $52,450,000 after purchasing an additional 715,999 shares during the last quarter. Boston Partners raised its stake in Ero Copper by 66.9% in the fourth quarter. Boston Partners now owns 1,101,265 shares of the company's stock valued at $14,850,000 after purchasing an additional 441,413 shares in the last quarter. Montrusco Bolton Investments Inc. lifted its position in Ero Copper by 3.9% during the fourth quarter. Montrusco Bolton Investments Inc. now owns 775,356 shares of the company's stock valued at $10,448,000 after purchasing an additional 28,999 shares during the last quarter. Finally, Bank of Montreal Can lifted its position in Ero Copper by 7.4% during the fourth quarter. Bank of Montreal Can now owns 728,570 shares of the company's stock valued at $9,810,000 after purchasing an additional 50,455 shares during the last quarter. 71.30% of the stock is currently owned by hedge funds and other institutional investors.
Ero Copper Trading Up 4.2 %
Shares of Ero Copper stock traded up $0.44 during trading on Wednesday, reaching $10.95. 553,500 shares of the stock were exchanged, compared to its average volume of 399,200. The stock's fifty day moving average is $12.39 and its 200 day moving average is $14.79. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of 64.41 and a beta of 1.10. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 0.71. Ero Copper Corp. has a 1 year low of $9.30 and a 1 year high of $24.34.
Ero Copper (NYSE:ERO - Get Free Report) last issued its quarterly earnings data on Thursday, March 6th. The company reported $0.17 earnings per share for the quarter, missing analysts' consensus estimates of $0.21 by ($0.04). The business had revenue of $122.50 million during the quarter, compared to the consensus estimate of $183.26 million. Ero Copper had a return on equity of 11.30% and a net margin of 3.67%. As a group, equities research analysts expect that Ero Copper Corp. will post 0.71 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
ERO has been the topic of several research reports. TD Cowen upgraded shares of Ero Copper from a "hold" rating to a "buy" rating in a research report on Wednesday, February 12th. TD Securities upgraded Ero Copper from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 12th. BMO Capital Markets assumed coverage on Ero Copper in a report on Wednesday. They set an "outperform" rating on the stock. Desjardins started coverage on Ero Copper in a research note on Friday, April 4th. They issued a "hold" rating for the company. Finally, Raymond James reissued an "outperform" rating on shares of Ero Copper in a research note on Friday, April 4th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Ero Copper currently has a consensus rating of "Buy" and an average target price of $26.33.
Read Our Latest Stock Report on ERO
About Ero Copper
(
Free Report)
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.
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