Connor Clark & Lunn Investment Management Ltd. Makes New Investment 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. bought a new stake in shares of Ero Copper Corp. (NYSE:ERO - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 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 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Ero Copper by 20.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 58,295 shares of the company's stock worth $706,000 after purchasing an additional 9,810 shares during the period. Scotia Capital Inc. raised its holdings in Ero Copper by 2.9% in the first quarter. Scotia Capital Inc. now owns 269,862 shares of the company's stock worth $3,236,000 after purchasing an additional 7,531 shares in the last quarter. J. Safra Sarasin Holding AG raised its holdings in Ero Copper by 3.2% in the first quarter. J. Safra Sarasin Holding AG now owns 24,266 shares of the company's stock worth $294,000 after purchasing an additional 753 shares in the last quarter. Alberta Investment Management Corp raised its holdings in Ero Copper by 29.0% in the first quarter. Alberta Investment Management Corp now owns 67,700 shares of the company's stock worth $820,000 after purchasing an additional 15,200 shares in the last quarter. Finally, Letko Brosseau & Associates Inc. bought a new position in Ero Copper in the first quarter worth about $176,000. Institutional investors own 71.30% of the company's stock.

Ero Copper Trading Down 0.1%

NYSE:ERO traded down $0.02 on Friday, reaching $13.87. The company's stock had a trading volume of 325,177 shares, compared to its average volume of 718,648. Ero Copper Corp. has a 12-month low of $9.30 and a 12-month high of $23.40. The company has a quick ratio of 0.80, a current ratio of 1.05 and a debt-to-equity ratio of 0.83. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 10.12 and a beta of 1.16. The stock has a 50 day moving average price of $14.98 and a 200 day moving average price of $13.58.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ERO shares. Wall Street Zen cut Ero Copper from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Raymond James Financial raised Ero Copper to a "moderate buy" rating in a report on Monday, June 30th. National Bankshares reissued a "sector perform" rating on shares of Ero Copper in a report on Tuesday, August 5th. Scotiabank reaffirmed an "outperform" rating on shares of Ero Copper in a research note on Tuesday, July 8th. Finally, TD Securities reaffirmed a "buy" rating on shares of Ero Copper in a research note on Wednesday, May 7th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus 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.