34,340 Shares in Ero Copper Corp. $ERO Bought by PCJ Investment Counsel Ltd.

PCJ Investment Counsel Ltd. purchased a new position in shares of Ero Copper Corp. (NYSE:ERO) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 34,340 shares of the company’s stock, valued at approximately $695,000.

Several other large investors also recently added to or reduced their stakes in ERO. Envestnet Asset Management Inc. boosted its stake in shares of Ero Copper by 2.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 56,255 shares of the company’s stock worth $948,000 after acquiring an additional 1,152 shares in the last quarter. Geode Capital Management LLC grew its holdings in Ero Copper by 3.4% in the 2nd quarter. Geode Capital Management LLC now owns 55,170 shares of the company’s stock valued at $936,000 after buying an additional 1,823 shares during the last quarter. Samalin Investment Counsel LLC increased its position in Ero Copper by 5.3% in the 3rd quarter. Samalin Investment Counsel LLC now owns 38,074 shares of the company’s stock worth $770,000 after buying an additional 1,916 shares during the period. Rathbones Group PLC lifted its holdings in shares of Ero Copper by 19.3% during the second quarter. Rathbones Group PLC now owns 15,903 shares of the company’s stock worth $268,000 after buying an additional 2,570 shares during the last quarter. Finally, CIBC Asset Management Inc raised its stake in Ero Copper by 3.3% during the 3rd quarter. CIBC Asset Management Inc now owns 93,129 shares of the company’s stock valued at $1,884,000 after purchasing an additional 2,974 shares during the last quarter. 71.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Ero Copper in a research report on Monday, December 29th. The Goldman Sachs Group increased their price target on shares of Ero Copper from $25.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, January 14th. Wall Street Zen raised Ero Copper from a “hold” rating to a “buy” rating in a report on Saturday. ATB Cormark Capital Markets upgraded Ero Copper to a “moderate buy” rating in a research note on Friday, February 6th. Finally, Scotiabank reiterated an “outperform” rating on shares of Ero Copper in a research note on Monday, January 26th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, Ero Copper has an average rating of “Moderate Buy” and an average price target of $32.50.

Ero Copper Price Performance

Ero Copper stock opened at $28.05 on Wednesday. Ero Copper Corp. has a 12-month low of $9.30 and a 12-month high of $39.80. The business’s 50-day simple moving average is $31.33 and its 200 day simple moving average is $24.80. The company has a quick ratio of 0.46, a current ratio of 0.82 and a debt-to-equity ratio of 0.64. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of 11.04 and a beta of 1.17.

Ero Copper (NYSE:ERO) last announced its quarterly earnings data on Thursday, March 5th. The company reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.02). Ero Copper had a net margin of 33.56% and a return on equity of 27.09%. The business had revenue of $320.20 million during the quarter, compared to analyst estimates of $430.46 million. As a group, research analysts anticipate that Ero Copper Corp. will post 0.71 earnings per share for the current year.

Ero Copper Profile

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.