William Blair Investment Management LLC purchased a new stake in shares of Ero Copper Corp. (NYSE:ERO – Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 439,640 shares of the company’s stock, valued at approximately $11,760,000.
Several other institutional investors have also modified their holdings of ERO. TD Waterhouse Canada Inc. grew its holdings in shares of Ero Copper by 2.2% in the 4th quarter. TD Waterhouse Canada Inc. now owns 17,852 shares of the company’s stock worth $503,000 after acquiring an additional 380 shares during the period. Pictet Asset Management Holding SA raised its holdings in Ero Copper by 3.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 18,103 shares of the company’s stock worth $513,000 after purchasing an additional 574 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in Ero Copper by 3.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 32,833 shares of the company’s stock worth $933,000 after purchasing an additional 1,107 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Ero Copper during the fourth quarter worth $38,000. Finally, Banque Cantonale Vaudoise boosted its position in Ero Copper by 20.0% during the first quarter. Banque Cantonale Vaudoise now owns 9,000 shares of the company’s stock worth $239,000 after purchasing an additional 1,500 shares in the last quarter. Hedge funds and other institutional investors own 71.30% of the company’s stock.
Ero Copper Trading Up 9.4%
Shares of Ero Copper stock opened at $39.41 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. Ero Copper Corp. has a 1 year low of $13.80 and a 1 year high of $39.80. The company has a market capitalization of $4.11 billion, a P/E ratio of 13.22, a P/E/G ratio of 0.32 and a beta of 1.21. The business has a 50 day moving average price of $28.77 and a 200 day moving average price of $28.82.
Analysts Set New Price Targets
Several analysts have weighed in on ERO shares. Wall Street Zen raised Ero Copper from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. National Bank Financial raised Ero Copper from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, May 5th. TD Securities reiterated a “hold” rating on shares of Ero Copper in a research report on Friday, August 7th. Bradesco Corretora raised shares of Ero Copper to an “outperform” rating in a research note on Monday, July 20th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Ero Copper in a report on Thursday, June 4th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.33.
Get Our Latest Stock Report on ERO
Ero Copper Company 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.
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