Cape Ann Asset Management Ltd Has $51.98 Million Stock Holdings in Ero Copper Corp. $ERO

Key Points

• Cape Ann Asset Management boosted its Ero Copper stake by 13.5% in Q1, holding 1.95 million shares worth about $51.98 million. Ero Copper now makes up 11.8% of the fund’s portfolio and is its third-largest position.
• Ero Copper’s latest quarterly results beat expectations, posting EPS of $0.69 versus the $0.56 estimate and revenue of $263.2 million versus $245.5 million expected. The company also reported strong profitability, with a 27.33% return on equity and a 31.63% net margin.
• Wall Street sentiment is mixed but constructive, with recent upgrades from Bank of America, Bradesco Corretora, and National Bank Financial, offset by downgrades from Goldman Sachs and Wall Street Zen. The stock currently carries a Moderate Buy consensus and a price target of $32.33.

Cape Ann Asset Management Ltd increased its holdings in shares of Ero Copper Corp. (NYSE:ERO - Free Report) by 13.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,949,128 shares of the company's stock after purchasing an additional 231,485 shares during the period. Ero Copper makes up 11.8% of Cape Ann Asset Management Ltd's portfolio, making the stock its 3rd biggest position. Cape Ann Asset Management Ltd owned approximately 1.87% of Ero Copper worth $51,983,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ERO. FNY Investment Advisers LLC bought a new position in Ero Copper in the fourth quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd bought a new stake in Ero Copper in the 4th quarter valued at $38,000. Kestra Advisory Services LLC bought a new stake in Ero Copper in the 4th quarter valued at $56,000. SG Americas Securities LLC acquired a new position in Ero Copper in the 4th quarter worth $115,000. Finally, Banque Cantonale Vaudoise bought a new position in Ero Copper during the 3rd quarter worth about $111,000. 71.30% of the stock is currently owned by institutional investors and hedge funds.

Ero Copper Price Performance

NYSE:ERO opened at $25.97 on Friday. Ero Copper Corp. has a 12-month low of $12.79 and a 12-month high of $39.80. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of 9.24, a P/E/G ratio of 0.21 and a beta of 1.20. The stock's 50 day moving average price is $27.32 and its two-hundred day moving average price is $28.78. 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 - Get Free Report) last issued its earnings results on Monday, May 4th. The company reported $0.69 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $245.51 million. On average, analysts anticipate that Ero Copper Corp. will post 3.98 earnings per share for the current year.

Analysts Set New Price Targets

ERO has been the subject of several recent research reports. Bank of America raised Ero Copper from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $30.00 to $34.00 in a research report on Thursday, July 16th. Bradesco Corretora raised shares of Ero Copper to an "outperform" rating in a research note on Monday, July 20th. The Goldman Sachs Group lowered shares of Ero Copper from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $33.00 to $31.00 in a research report on Tuesday, April 14th. Wall Street Zen downgraded shares of Ero Copper from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Finally, National Bank Financial raised shares of Ero Copper from a "sector perform" rating to an "outperform" rating in a research report on Tuesday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, Ero Copper currently 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.

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