Jupiter Topco LLC Invests $9.40 Million in Ero Copper Corp. $ERO

Key Points

• Jupiter Topco LLC acquired 351,319 Ero Copper shares worth approximately $9.4 million, while other institutions also initiated positions; institutional investors now own 71.3% of the company.
• Ero Copper reported quarterly earnings of $0.83 per share, exceeding analyst expectations of $0.74, while revenue of $284.3 million also surpassed estimates.
• Analyst sentiment remains mixed but leans positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $32.33, below its reported $38.88 share price.

Jupiter Topco LLC bought a new position in shares of Ero Copper Corp. (NYSE:ERO - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 351,319 shares of the company's stock, valued at approximately $9,397,000. Jupiter Topco LLC owned 0.34% of Ero Copper as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Kapitalo Investimentos Ltda acquired a new stake in Ero Copper during the second quarter worth approximately $28,802,000. Legal & General Group Plc bought a new position in shares of Ero Copper during the second quarter worth approximately $2,563,000. The Manufacturers Life Insurance Company acquired a new stake in Ero Copper during the 2nd quarter worth approximately $14,905,000. Cibc World Market Inc. acquired a new stake in Ero Copper during the 2nd quarter worth approximately $1,563,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Ero Copper in the 2nd quarter valued at $19,887,000. 71.30% of the stock is owned by institutional investors.

Ero Copper Trading Up 0.1%

Shares of NYSE:ERO opened at $38.88 on Monday. The company has a market capitalization of $4.06 billion, a P/E ratio of 13.05, a P/E/G ratio of 0.31 and a beta of 1.21. Ero Copper Corp. has a 1 year low of $13.91 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 business's 50 day simple moving average is $29.70 and its 200 day simple moving average is $29.00.

Ero Copper (NYSE:ERO - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.09. The firm had revenue of $284.30 million during the quarter, compared to analysts' expectations of $277.64 million. Ero Copper had a return on equity of 30.32% and a net margin of 29.79%. On average, research analysts anticipate that Ero Copper Corp. will post 3.98 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on ERO. Wall Street Zen lowered Ero Copper from a "buy" rating to a "hold" rating in a report on Saturday. Jefferies Financial Group reissued a "hold" rating on shares of Ero Copper in a report on Monday, July 6th. Bradesco Corretora raised shares of Ero Copper to an "outperform" rating in a research report on Monday, July 20th. Zacks Research downgraded shares of Ero Copper from a "hold" rating to a "strong sell" rating in a research note on Monday, August 17th. Finally, Bank of America raised shares of Ero Copper from a "neutral" rating to a "buy" rating and raised their price target for the stock from $30.00 to $34.00 in a research report on Thursday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $32.33.

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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