MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 80,359 Shares of Ero Copper Corp. $ERO

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. has increased its stake in Ero Copper Corp. to $43.69 million, representing a 2.3% increase, bringing their total shares to 3,607,517.
• Ero Copper's current market capitalization is $1.55 billion, with its stock recently trading at $14.97 and having a 12-month high of $23.40.
• Analysts generally maintain a positive outlook on Ero Copper, with a consensus rating of "Moderate Buy" and an average target price of $19.00.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Ero Copper Corp. (NYSE:ERO - Free Report) by 2.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,607,517 shares of the company's stock after purchasing an additional 80,359 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 3.48% of Ero Copper worth $43,689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. J. Safra Sarasin Holding AG lifted its stake in Ero Copper by 3.2% in the 1st 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. Northwest & Ethical Investments L.P. lifted its stake in Ero Copper by 22.6% in the 1st quarter. Northwest & Ethical Investments L.P. now owns 8,033 shares of the company's stock worth $97,000 after purchasing an additional 1,483 shares in the last quarter. Mackenzie Financial Corp lifted its stake in Ero Copper by 4.2% in the 4th quarter. Mackenzie Financial Corp now owns 47,380 shares of the company's stock worth $638,000 after purchasing an additional 1,896 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in Ero Copper by 8.7% in the 4th quarter. Public Employees Retirement System of Ohio now owns 31,915 shares of the company's stock worth $430,000 after purchasing an additional 2,550 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Ero Copper by 5.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 55,103 shares of the company's stock worth $668,000 after purchasing an additional 2,958 shares in the last quarter. 71.30% of the stock is currently owned by hedge funds and other institutional investors.

Ero Copper Trading Down 1.1%

NYSE:ERO traded down $0.19 during trading hours on Friday, reaching $16.74. The company's stock had a trading volume of 352,756 shares, compared to its average volume of 581,189. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 12.22 and a beta of 1.16. The firm has a 50-day simple moving average of $14.45 and a 200-day simple moving average of $13.72. Ero Copper Corp. has a 1 year low of $9.30 and a 1 year high of $23.40. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.80 and a current ratio of 1.05.

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

Analysts Set New Price Targets

Several research firms have issued reports on ERO. Scotiabank reiterated an "outperform" rating on shares of Ero Copper in a research note on Tuesday, July 8th. Raymond James Financial raised shares of Ero Copper to a "moderate buy" rating in a report on Monday, June 30th. Stifel Canada raised shares of Ero Copper to a "strong-buy" rating in a report on Tuesday, July 8th. National Bank Financial downgraded shares of Ero Copper from an "outperform" rating to a "sector perform" rating in a report on Wednesday, July 9th. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Ero Copper in a report on Friday, July 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $19.00.

Ero Copper Company 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.