The Manufacturers Life Insurance Company Buys 549,038 Shares of Ero Copper Corp. $ERO

The Manufacturers Life Insurance Company lifted its position in Ero Copper Corp. (NYSE:ERO) by 315.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 722,853 shares of the company’s stock after purchasing an additional 549,038 shares during the period. The Manufacturers Life Insurance Company owned 0.69% of Ero Copper worth $19,241,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ERO. FIL Ltd raised its position in Ero Copper by 74.1% during the 4th quarter. FIL Ltd now owns 11,670,422 shares of the company’s stock valued at $330,161,000 after purchasing an additional 4,966,427 shares in the last quarter. Hillsdale Investment Management Inc. lifted its holdings in shares of Ero Copper by 602.9% in the 4th quarter. Hillsdale Investment Management Inc. now owns 1,685,445 shares of the company’s stock worth $47,767,000 after buying an additional 1,445,645 shares during the period. Vanguard Group Inc. grew its position in shares of Ero Copper by 1,614.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,434,428 shares of the company’s stock worth $29,056,000 after buying an additional 1,350,738 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Ero Copper by 4,913.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 974,932 shares of the company’s stock valued at $26,000,000 after buying an additional 955,487 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of Ero Copper by 82.6% during the second quarter. Bank of America Corp DE now owns 1,775,632 shares of the company’s stock valued at $29,919,000 after buying an additional 803,320 shares during the period. 71.30% of the stock is currently owned by hedge funds and other institutional investors.

Ero Copper Trading Down 0.6%

Shares of NYSE ERO opened at $26.88 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 0.81. The stock has a market capitalization of $2.80 billion, a P/E ratio of 9.56, a price-to-earnings-growth ratio of 0.21 and a beta of 1.20. Ero Copper Corp. has a 1-year low of $12.79 and a 1-year high of $39.80. The business has a fifty day moving average price of $27.26 and a 200 day moving average price of $28.66.

Ero Copper (NYSE:ERO) last posted its earnings results on Monday, May 4th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.13. Ero Copper had a return on equity of 27.33% and a net margin of 31.63%.The company had revenue of $263.20 million for the quarter, compared to analyst estimates of $245.51 million. Equities research analysts expect that Ero Copper Corp. will post 4.02 EPS for the current fiscal year.

Analyst Ratings Changes

ERO has been the subject of a number of research reports. Bradesco Corretora raised shares of Ero Copper to an “outperform” rating in a research note on Monday, July 20th. Weiss Ratings reissued a “hold (c+)” rating on shares of Ero Copper in a research report on Thursday, June 4th. Bank of America upgraded shares of Ero Copper from a “neutral” rating to a “buy” rating and boosted their price target for the company from $30.00 to $34.00 in a report on Thursday, July 16th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Ero Copper in a research report on Monday, July 6th. Finally, National Bank Financial upgraded shares of Ero Copper from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.33.

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.