88,600 Shares in Ero Copper Corp. (NYSE:ERO) Purchased by Maverick Capital Ltd.

Maverick Capital Ltd. bought a new stake in Ero Copper Corp. (NYSE:ERO - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 88,600 shares of the company's stock, valued at approximately $1,973,000. Maverick Capital Ltd. owned 0.09% of Ero Copper at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ERO. Toronto Dominion Bank grew its holdings in shares of Ero Copper by 38.7% in the 2nd quarter. Toronto Dominion Bank now owns 2,539 shares of the company's stock valued at $54,000 after buying an additional 709 shares during the period. National Bank of Canada FI grew its stake in Ero Copper by 1.4% in the second quarter. National Bank of Canada FI now owns 58,271 shares of the company's stock valued at $1,238,000 after acquiring an additional 793 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Ero Copper by 6.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,933 shares of the company's stock worth $469,000 after acquiring an additional 1,277 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Ero Copper by 6.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,408 shares of the company's stock worth $522,000 after purchasing an additional 1,475 shares during the period. Finally, Exchange Traded Concepts LLC bought a new position in shares of Ero Copper during the 3rd quarter valued at about $38,000. Institutional investors own 71.30% of the company's stock.

Ero Copper Stock Performance

Shares of NYSE ERO traded down $0.04 during midday trading on Friday, hitting $15.22. 177,644 shares of the company's stock were exchanged, compared to its average volume of 433,840. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $1.57 billion, a PE ratio of 89.53 and a beta of 1.23. Ero Copper Corp. has a 12 month low of $11.96 and a 12 month high of $24.34. The company's 50 day moving average price is $18.82 and its 200 day moving average price is $19.99.

Analysts Set New Price Targets

Several equities research analysts recently commented on ERO shares. StockNews.com raised shares of Ero Copper from a "sell" rating to a "hold" rating in a research report on Friday, October 25th. Jefferies Financial Group upgraded Ero Copper from a "hold" rating to a "buy" rating in a report on Monday, August 5th. Raymond James upgraded Ero Copper from a "market perform" rating to an "outperform" rating in a report on Tuesday, September 3rd. Finally, Bank of America began coverage on Ero Copper in a research note on Tuesday, September 3rd. They issued a "buy" rating and a $28.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Ero Copper currently has a consensus rating of "Buy" and an average target price of $30.00.

About Ero Copper

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.