Ero Copper Corp. $ERO Shares Purchased by Royal Bank of Canada

Key Points

• Royal Bank of Canada more than doubled its Ero Copper position in the first quarter, acquiring 196,101 additional shares and holding 354,638 shares worth approximately $9.46 million.
• Institutional ownership remains substantial at 71.3%, with FIL Ltd., Vanguard, Invesco and other investors also increasing their stakes.
• Analyst sentiment is moderately bullish: Ero Copper has a consensus “Moderate Buy” rating and a $32.33 price target, while its latest quarterly results beat expectations for both earnings and revenue.

Royal Bank of Canada boosted its position in Ero Copper Corp. (NYSE:ERO - Free Report) by 123.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 354,638 shares of the company's stock after acquiring an additional 196,101 shares during the period. Royal Bank of Canada owned about 0.34% of Ero Copper worth $9,459,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ERO. FIL Ltd boosted its position in shares of Ero Copper by 74.1% in the fourth quarter. FIL Ltd now owns 11,670,422 shares of the company's stock worth $330,161,000 after acquiring an additional 4,966,427 shares during the last quarter. Invesco Ltd. increased its position in Ero Copper by 10.7% during the fourth quarter. Invesco Ltd. now owns 2,827,385 shares of the company's stock worth $79,987,000 after purchasing an additional 273,470 shares during the last quarter. Vanguard Group Inc. raised its stake in Ero Copper by 77.6% during the fourth quarter. Vanguard Group Inc. now owns 2,546,856 shares of the company's stock worth $72,051,000 after purchasing an additional 1,112,428 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Ero Copper by 11.1% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,507,087 shares of the company's stock valued at $50,794,000 after purchasing an additional 250,303 shares during the last quarter. Finally, Cape Ann Asset Management Ltd boosted its holdings in shares of Ero Copper by 13.5% in the 1st quarter. Cape Ann Asset Management Ltd now owns 1,949,128 shares of the company's stock valued at $51,983,000 after purchasing an additional 231,485 shares during the last quarter. 71.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ERO shares. The Goldman Sachs Group downgraded Ero Copper from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $33.00 to $31.00 in a report on Tuesday, April 14th. National Bank Financial raised Ero Copper from a "sector perform" rating to an "outperform" rating in a research report on Tuesday, May 5th. Weiss Ratings restated a "hold (c+)" rating on shares of Ero Copper in a research note on Thursday, June 4th. Scotiabank restated an "outperform" rating on shares of Ero Copper in a report on Monday, June 15th. Finally, Wall Street Zen raised Ero Copper from a "hold" rating to a "buy" rating in a research note on Saturday. Two investment 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 company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $32.33.

Ero Copper Stock Performance

Shares of ERO stock opened at $34.32 on Monday. The company has a current ratio of 1.30, a quick ratio of 0.81 and a debt-to-equity ratio of 0.50. The company has a market cap of $3.58 billion, a PE ratio of 11.52, a P/E/G ratio of 0.27 and a beta of 1.21. The company's fifty day simple moving average is $27.42 and its 200-day simple moving average is $28.66. Ero Copper Corp. has a 52 week low of $13.37 and a 52 week high of $39.80.

Ero Copper (NYSE:ERO - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.83 earnings per share (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 firm had revenue of $284.30 million during the quarter, compared to the consensus estimate of $277.64 million. As a group, equities research analysts anticipate that Ero Copper Corp. will post 4.02 EPS for the current year.

Ero Copper 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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