Temasek Holdings Private Ltd Acquires 105,502 Shares of Ero Copper Corp. $ERO

Key Points

• Temasek Holdings increased its stake in Ero Copper by 22.3% in the first quarter, buying 105,502 additional shares and bringing its total to 579,162 shares worth about $15.4 million.
• Analysts are mixed on Ero Copper, with recent rating changes including downgrades and upgrades; the stock currently carries a Moderate Buy consensus and an average target price of $32.33.
• Ero Copper reported strong first-quarter earnings, posting EPS of $0.69 versus estimates of $0.56 and revenue of $263.2 million versus expectations of $245.51 million, while the stock was trading up 7.1% at $26.87.

Temasek Holdings Private Ltd grew its holdings in shares of Ero Copper Corp. (NYSE:ERO - Free Report) by 22.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 579,162 shares of the company's stock after buying an additional 105,502 shares during the quarter. Temasek Holdings Private Ltd owned 0.56% of Ero Copper worth $15,396,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. TD Waterhouse Canada Inc. lifted its position in Ero Copper by 2.2% in the fourth quarter. TD Waterhouse Canada Inc. now owns 17,852 shares of the company's stock worth $503,000 after buying an additional 380 shares during the last quarter. Pictet Asset Management Holding SA increased its position in Ero Copper by 3.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 18,103 shares of the company's stock valued at $513,000 after acquiring an additional 574 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of Ero Copper in the fourth quarter valued at $25,000. Public Employees Retirement System of Ohio raised its stake in shares of Ero Copper by 3.5% in the fourth quarter. Public Employees Retirement System of Ohio now owns 32,833 shares of the company's stock valued at $933,000 after acquiring an additional 1,107 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Ero Copper in the 4th quarter worth about $38,000. Institutional investors own 71.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Wall Street Zen cut shares of Ero Copper from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Bradesco Corretora raised shares of Ero Copper to an "outperform" rating in a research report on Monday. The Goldman Sachs Group lowered Ero Copper from a "buy" rating to a "neutral" rating and dropped their target price for the company from $33.00 to $31.00 in a research report on Tuesday, April 14th. Jefferies Financial Group reaffirmed a "hold" rating on shares of Ero Copper in a research note on Monday, July 6th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Ero Copper in a report on Thursday, June 4th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, Ero Copper presently has a consensus rating of "Moderate Buy" and an average target price of $32.33.

Ero Copper Trading Up 7.1%

Shares of ERO opened at $26.87 on Wednesday. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of 9.56, a PEG ratio of 0.20 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 Corp. has a 1-year low of $12.79 and a 1-year high of $39.80. The company has a 50-day moving average of $27.50 and a 200 day moving average of $28.82.

Ero Copper (NYSE:ERO - Get Free Report) last issued its earnings results on Monday, May 4th. The company reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.13. The business had revenue of $263.20 million for the quarter, compared to the consensus estimate of $245.51 million. Ero Copper had a net margin of 31.63% and a return on equity of 27.33%. On average, research analysts expect that Ero Copper Corp. will post 3.98 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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