TD Asset Management Inc Acquires 525,252 Shares of Ero Copper Corp. $ERO

Key Points

• TD Asset Management Inc increased its ownership in Ero Copper Corp by 56.2%, acquiring an additional 525,252 shares during Q2, bringing its total stake to approximately 1.41% of the company.
• Ero Copper's stock price opened at $22.09 but has recently experienced a 3.0% decline, with a twelve-month range between $9.30 and $24.48.
• Recent analyst ratings for Ero Copper have been mixed, with some firms downgrading the stock while others maintain a Moderate Buy consensus with an average price target of $19.00.

TD Asset Management Inc raised its stake in shares of Ero Copper Corp. (NYSE:ERO - Free Report) by 56.2% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,460,342 shares of the company's stock after acquiring an additional 525,252 shares during the period. TD Asset Management Inc owned approximately 1.41% of Ero Copper worth $24,616,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of Ero Copper during the first quarter valued at approximately $255,000. Goldman Sachs Group Inc. raised its stake in Ero Copper by 82.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 275,598 shares of the company's stock valued at $3,340,000 after buying an additional 124,179 shares during the last quarter. Sprott Inc. lifted its holdings in shares of Ero Copper by 64.3% during the 1st quarter. Sprott Inc. now owns 748,185 shares of the company's stock valued at $9,068,000 after buying an additional 292,896 shares during the period. Wincap Financial LLC boosted its stake in shares of Ero Copper by 29.4% in the 1st quarter. Wincap Financial LLC now owns 96,510 shares of the company's stock worth $1,170,000 after buying an additional 21,948 shares during the last quarter. Finally, Maverick Capital Ltd. bought a new stake in shares of Ero Copper in the first quarter worth $806,000. 71.30% of the stock is currently owned by institutional investors.

Ero Copper Stock Down 3.0%

ERO stock opened at $22.09 on Friday. The business's 50-day moving average price is $17.39 and its 200-day moving average price is $15.05. The stock has a market cap of $2.29 billion, a P/E ratio of 16.12 and a beta of 1.24. The company has a quick ratio of 0.80, a current ratio of 1.05 and a debt-to-equity ratio of 0.83. Ero Copper Corp. has a twelve month low of $9.30 and a twelve month high of $24.48.

Ero Copper (NYSE:ERO - Get Free Report) last released 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%. On average, equities research analysts forecast that Ero Copper Corp. will post 0.71 EPS for the current year.

Analyst Ratings Changes

ERO has been the topic of a number of recent research reports. Cibc World Mkts downgraded Ero Copper from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 9th. Scotiabank cut shares of Ero Copper from an "outperform" rating to a "hold" rating in a research note on Tuesday. Stifel Canada upgraded shares of Ero Copper to a "strong-buy" rating in a research report on Tuesday, July 8th. Zacks Research raised shares of Ero Copper from a "hold" rating to a "strong-buy" rating in a report on Tuesday, September 30th. Finally, Wall Street Zen cut shares of Ero Copper from a "buy" rating to a "hold" rating in a research note on Tuesday. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus 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.

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