Glenmede Trust Co. NA Purchases Shares of 15,405 Ero Copper Corp. $ERO

Glenmede Trust Co. NA acquired a new position in shares of Ero Copper Corp. (NYSE:ERO) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 15,405 shares of the company’s stock, valued at approximately $411,000.

Several other large investors have also recently made changes to their positions in ERO. Concurrent Investment Advisors LLC acquired a new position in shares of Ero Copper in the fourth quarter worth about $1,142,000. Cape Ann Asset Management Ltd increased its stake in shares of Ero Copper by 13.5% in the 1st quarter. Cape Ann Asset Management Ltd now owns 1,949,128 shares of the company’s stock valued at $51,983,000 after purchasing an additional 231,485 shares in the last quarter. Artemis Investment Management LLP acquired a new position in Ero Copper in the 4th quarter worth about $14,363,000. Temasek Holdings Private Ltd boosted its position in Ero Copper by 22.3% during the first quarter. Temasek Holdings Private Ltd now owns 579,162 shares of the company’s stock worth $15,396,000 after purchasing an additional 105,502 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in Ero Copper by 4,913.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 974,932 shares of the company’s stock worth $26,000,000 after purchasing an additional 955,487 shares in the last quarter. 71.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. The Goldman Sachs Group cut Ero Copper from a “buy” rating to a “neutral” rating and cut their price objective for the company from $33.00 to $31.00 in a research report on Tuesday, April 14th. Bank of America raised shares of Ero Copper from a “neutral” rating to a “buy” rating and lifted their price target for the company from $30.00 to $34.00 in a research note on Thursday, July 16th. Weiss Ratings restated a “hold (c+)” rating on shares of Ero Copper in a research report on Thursday, June 4th. National Bank Financial raised shares of Ero Copper from a “sector perform” rating to an “outperform” rating in a report on Tuesday, May 5th. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of Ero Copper in a research report on Monday, July 6th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $32.33.

Ero Copper Trading Up 10.3%

Shares of ERO opened at $34.32 on Friday. Ero Copper Corp. has a 52-week low of $13.37 and a 52-week high of $39.80. The stock has a market cap of $3.58 billion, a PE ratio of 11.52, a price-to-earnings-growth ratio of 0.27 and a beta of 1.21. The firm’s fifty day moving average is $27.42 and its two-hundred day moving average is $28.67. The company has a quick ratio of 0.81, a current ratio of 1.30 and a debt-to-equity ratio of 0.50.

Ero Copper (NYSE:ERO) last issued 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 business had revenue of $284.30 million during the quarter, compared to analysts’ expectations of $277.64 million. Ero Copper had a net margin of 29.79% and a return on equity of 30.32%. Research analysts forecast that Ero Copper Corp. will post 4.02 earnings per share for the current fiscal year.

About Ero Copper

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.