Lazard Asset Management LLC Acquires 38,322 Shares of Ero Copper Corp. $ERO

Key Points

• Lazard Asset Management increased its Ero Copper stake by 56.1% in the first quarter, purchasing 38,322 shares and bringing its holdings to 106,684 shares valued at approximately $2.85 million. Institutional investors collectively own 71.3% of the company.
• Ero Copper reported quarterly EPS of $0.69, surpassing the $0.56 consensus estimate, while revenue of $263.2 million also exceeded expectations. Analysts project full-year EPS of $4.02.
• ERO shares opened at $26.88, down 0.6%, while analyst sentiment remains a “Moderate Buy” with an average price target of $32.33, despite some recent downgrades to neutral or hold.

Lazard Asset Management LLC boosted its holdings in shares of Ero Copper Corp. (NYSE:ERO - Free Report) by 56.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 106,684 shares of the company's stock after purchasing an additional 38,322 shares during the quarter. Lazard Asset Management LLC owned about 0.10% of Ero Copper worth $2,845,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of ERO. FNY Investment Advisers LLC purchased a new stake in shares of Ero Copper during the 4th quarter valued at about $25,000. Caitong International Asset Management Co. Ltd bought a new stake in Ero Copper during the fourth quarter worth approximately $38,000. Kestra Advisory Services LLC bought a new stake in Ero Copper during the fourth quarter worth approximately $56,000. Banque Cantonale Vaudoise purchased a new stake in Ero Copper during the third quarter valued at approximately $111,000. Finally, SG Americas Securities LLC purchased a new stake in Ero Copper during the fourth quarter valued at approximately $115,000. Institutional investors own 71.30% of the company's stock.

Ero Copper Trading Down 0.6%

ERO stock opened at $26.88 on Friday. Ero Copper Corp. has a 12 month low of $12.79 and a 12 month high of $39.80. The firm's 50-day moving average is $27.26 and its 200 day moving average is $28.66. The company has a market capitalization of $2.80 billion, a PE ratio of 9.56, a P/E/G ratio of 0.21 and a beta of 1.20. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 0.81.

Ero Copper (NYSE:ERO - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.13. The company had revenue of $263.20 million for the quarter, compared to analysts' expectations of $245.51 million. Ero Copper had a return on equity of 27.33% and a net margin of 31.63%. On average, research analysts anticipate that Ero Copper Corp. will post 4.02 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Bradesco Corretora raised Ero Copper to an "outperform" rating in a research note on Monday, July 20th. Wall Street Zen downgraded Ero Copper from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. The Goldman Sachs Group downgraded Ero Copper from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $33.00 to $31.00 in a research report on Tuesday, April 14th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Ero Copper in a research report on Thursday, June 4th. Finally, Bank of America raised shares of Ero Copper from a "neutral" rating to a "buy" rating and increased their target price for the company from $30.00 to $34.00 in a research note on Thursday, July 16th. 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 company. According to MarketBeat, Ero Copper has a consensus rating of "Moderate Buy" and an average target price of $32.33.

Ero Copper Company 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.

Want to see what other hedge funds are holding ERO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ero Copper Corp. (NYSE:ERO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.