101,869 Ero Copper Corp. $ERO Shares Bought by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada increased its Ero Copper stake by 881.8% in the third quarter, purchasing 101,869 additional shares to hold 113,421 shares worth approximately $4.04 million.
• Institutional investors own 71.3% of Ero Copper. The stock opened at $32.84, with a 52-week range of $19.09 to $40.83 and a market capitalization of about $3.43 billion.
• Ero Copper exceeded quarterly earnings and revenue expectations, reporting $0.83 in EPS and $284.3 million in revenue. Analysts maintain a “Moderate Buy” consensus rating with a $32.33 average price target.

TD Waterhouse Canada Inc. boosted its holdings in Ero Copper Corp. (NYSE:ERO - Free Report) by 881.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 113,421 shares of the company's stock after buying an additional 101,869 shares during the quarter. TD Waterhouse Canada Inc. owned approximately 0.11% of Ero Copper worth $4,043,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Engineers Gate Manager LP boosted its position in Ero Copper by 0.8% during the 2nd quarter. Engineers Gate Manager LP now owns 37,573 shares of the company's stock worth $1,005,000 after buying an additional 285 shares during the period. Corient Private Wealth LP grew its holdings in Ero Copper by 4.0% during the 2nd quarter. Corient Private Wealth LP now owns 9,046 shares of the company's stock worth $242,000 after acquiring an additional 348 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Ero Copper in the 4th quarter valued at approximately $38,000. PenderFund Capital Management Ltd. acquired a new position in Ero Copper in the 2nd quarter valued at approximately $39,000. Finally, Banque Cantonale Vaudoise increased its position in Ero Copper by 20.0% in the 1st quarter. Banque Cantonale Vaudoise now owns 9,000 shares of the company's stock valued at $239,000 after acquiring an additional 1,500 shares during the period. Institutional investors own 71.30% of the company's stock.

Ero Copper Price Performance

Shares of ERO opened at $32.84 on Wednesday. Ero Copper Corp. has a 1 year low of $19.09 and a 1 year high of $40.83. 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 company has a market capitalization of $3.43 billion, a price-to-earnings ratio of 11.02, a price-to-earnings-growth ratio of 0.27 and a beta of 1.27. The business has a 50-day moving average of $36.06 and a 200-day moving average of $30.86.

Ero Copper (NYSE:ERO - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.74 by $0.09. Ero Copper had a return on equity of 30.32% and a net margin of 29.79%. The business had revenue of $284.30 million for the quarter, compared to analysts' expectations of $277.64 million. As a group, equities research analysts anticipate that Ero Copper Corp. will post 4.28 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ERO. Weiss Ratings raised shares of Ero Copper from a "hold (c+)" rating to a "buy (b)" rating in a research note on Thursday, October 8th. TD Securities reissued a "hold" rating on shares of Ero Copper in a research note on Friday, August 7th. Freedom Broker cut shares of Ero Copper from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 3rd. Wall Street Zen downgraded Ero Copper from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Jefferies Financial Group restated a "hold" rating on shares of Ero Copper in a report on Monday, July 6th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $32.33.

Ero Copper Company Profile

Ero Copper Corp. is a Canadian-based mining company focused on the exploration, development and production of copper and associated minerals. Its shares trade under the symbol ERO on the New York Stock Exchange and the Toronto Stock Exchange.

The company's principal assets are in Brazil. Its Caraíba Operations in the state of Bahia include underground and open-pit copper mines, processing facilities and related infrastructure. Ero Copper also operates the Tucumã copper mine in the state of Pará, while advancing additional exploration and development opportunities in Brazil.

Ero Copper was established in 2016 and has built its business around operating and expanding its Brazilian mining portfolio.

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