MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Ero Copper Corp. (NYSE:ERO - Free Report) by 5.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,527,158 shares of the company's stock after acquiring an additional 176,637 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 3.41% of Ero Copper worth $47,529,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in ERO. Invesco Ltd. boosted its position in shares of Ero Copper by 22.6% during the fourth quarter. Invesco Ltd. now owns 3,890,977 shares of the company's stock worth $52,450,000 after buying an additional 715,999 shares during the period. Bridgewater Associates LP raised its stake in Ero Copper by 400.2% during the 4th quarter. Bridgewater Associates LP now owns 818,269 shares of the company's stock valued at $11,026,000 after purchasing an additional 654,684 shares during the period. Boston Partners raised its stake in Ero Copper by 66.9% during the 4th quarter. Boston Partners now owns 1,101,265 shares of the company's stock valued at $14,850,000 after purchasing an additional 441,413 shares during the period. 683 Capital Management LLC raised its stake in Ero Copper by 20.4% during the 4th quarter. 683 Capital Management LLC now owns 2,468,367 shares of the company's stock valued at $33,272,000 after purchasing an additional 418,367 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in Ero Copper during the 4th quarter valued at $3,509,000. 71.30% of the stock is currently owned by institutional investors and hedge funds.
Ero Copper Price Performance
Shares of NYSE:ERO traded down $0.53 during trading on Friday, reaching $13.09. The stock had a trading volume of 494,376 shares, compared to its average volume of 399,512. Ero Copper Corp. has a 52 week low of $9.30 and a 52 week high of $24.34. The business's 50-day moving average price is $12.24 and its 200 day moving average price is $13.59. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.68 and a quick ratio of 0.45. The stock has a market capitalization of $1.36 billion, a PE ratio of 76.99 and a beta of 1.10.
Ero Copper (NYSE:ERO - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.17 by $0.18. Ero Copper had a net margin of 3.67% and a return on equity of 11.30%. The company had revenue of $125.10 million during the quarter, compared to analysts' expectations of $179.45 million. As a group, equities analysts predict that Ero Copper Corp. will post 0.71 earnings per share for the current year.
Analysts Set New Price Targets
A number of research firms have recently weighed in on ERO. National Bankshares raised shares of Ero Copper from a "sector perform" rating to an "outperform" rating in a research note on Tuesday, May 6th. BMO Capital Markets assumed coverage on shares of Ero Copper in a report on Wednesday, April 16th. They set an "outperform" rating for the company. TD Securities restated a "buy" rating on shares of Ero Copper in a report on Wednesday, May 7th. TD Cowen upgraded shares of Ero Copper from a "hold" rating to a "buy" rating in a research note on Wednesday, February 12th. Finally, Raymond James reiterated an "outperform" rating on shares of Ero Copper in a research note on Friday, April 4th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $26.33.
Get Our Latest Stock Report on ERO
Ero Copper Company Profile
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Free Report)
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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