Connor Clark & Lunn Investment Management Ltd. Invests $8.99 Million in Ero Copper Corp. (NYSE:ERO)

Key Points

• Connor Clark & Lunn Investment Management Ltd. has acquired 742,400 shares of Ero Copper Corp., valued at approximately $8.99 million, representing about 0.72% of the company's total stock.
• The company's financial performance includes a reported $0.46 earnings per share, exceeding the consensus estimate of $0.33, alongside a return on equity of 17.96% and a net margin of 26.63%.
• Recent analyst ratings show a mix of sentiment, with some downgrades to "hold" and one upgrade to "strong-buy," resulting in an average rating of "Moderate Buy" and a consensus target price of $23.50 for the stock.

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Ero Copper Corp. (NYSE:ERO - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 742,400 shares of the company's stock, valued at approximately $8,994,000. Connor Clark & Lunn Investment Management Ltd. owned 0.72% of Ero Copper as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of ERO. Acuitas Investments LLC bought a new stake in Ero Copper during the first quarter worth about $39,000. State of Wyoming bought a new stake in shares of Ero Copper during the 4th quarter worth approximately $76,000. TD Waterhouse Canada Inc. lifted its holdings in shares of Ero Copper by 128.4% during the 4th quarter. TD Waterhouse Canada Inc. now owns 10,672 shares of the company's stock worth $143,000 after acquiring an additional 6,000 shares during the period. Deutsche Bank AG lifted its holdings in shares of Ero Copper by 59.5% during the 4th quarter. Deutsche Bank AG now owns 10,700 shares of the company's stock worth $144,000 after acquiring an additional 3,990 shares during the period. Finally, BNP Paribas Financial Markets bought a new stake in shares of Ero Copper during the 4th quarter worth approximately $146,000. 71.30% of the stock is currently owned by institutional investors and hedge funds.

Ero Copper Trading Down 0.2%

Shares of ERO traded down $0.03 during trading hours on Friday, hitting $13.87. 204,946 shares of the stock were exchanged, compared to its average volume of 568,086. Ero Copper Corp. has a fifty-two week low of $9.30 and a fifty-two week high of $23.40. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.05 and a quick ratio of 0.80. The business has a 50-day moving average of $15.01 and a 200-day moving average of $13.58. The firm has a market capitalization of $1.44 billion, a P/E ratio of 10.12 and a beta of 1.16.

Ero Copper (NYSE:ERO - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.13. Ero Copper had a net margin of 26.63% and a return on equity of 17.96%. The company had revenue of $163.50 million during the quarter, compared to analysts' expectations of $263.23 million. On average, research analysts expect that Ero Copper Corp. will post 0.71 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ERO. National Bank Financial downgraded shares of Ero Copper from an "outperform" rating to a "sector perform" rating in a report on Wednesday, July 9th. Stifel Nicolaus started coverage on shares of Ero Copper in a research note on Wednesday, July 9th. They issued a "buy" rating for the company. Stifel Canada upgraded shares of Ero Copper to a "strong-buy" rating in a research report on Tuesday, July 8th. Scotiabank restated an "outperform" rating on shares of Ero Copper in a research report on Tuesday, July 8th. Finally, National Bankshares restated a "sector perform" rating on shares of Ero Copper in a research report on Tuesday, August 5th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $23.50.

Ero Copper Profile

Ero Copper Corp. engages in the exploration, development, and production of mining projects in Brazil. The company is involved in the production and sale of copper concentrate from the Caraíba operations located in the Curaçá Valley, northeastern Bahia state, Brazil, as well as gold and silver by-products.