Raymond James Financial Inc. Takes Position in Ero Copper Corp. (NYSE:ERO)

Raymond James Financial Inc. purchased a new stake in Ero Copper Corp. (NYSE:ERO - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 73,550 shares of the company's stock, valued at approximately $991,000. Raymond James Financial Inc. owned approximately 0.07% of Ero Copper as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in shares of Ero Copper by 16.1% in the third quarter. Geode Capital Management LLC now owns 46,940 shares of the company's stock valued at $1,050,000 after buying an additional 6,521 shares in the last quarter. Barclays PLC grew its position in shares of Ero Copper by 64.4% in the 3rd quarter. Barclays PLC now owns 33,987 shares of the company's stock valued at $757,000 after acquiring an additional 13,309 shares during the period. Tidal Investments LLC increased its stake in shares of Ero Copper by 142.5% during the 3rd quarter. Tidal Investments LLC now owns 51,557 shares of the company's stock worth $1,149,000 after purchasing an additional 30,299 shares during the last quarter. Canoe Financial LP bought a new stake in shares of Ero Copper in the 4th quarter valued at about $456,000. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in Ero Copper in the 4th quarter valued at about $125,000. Institutional investors and hedge funds own 71.30% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on ERO shares. Raymond James reissued an "outperform" rating on shares of Ero Copper in a research report on Friday, April 4th. National Bank Financial upgraded Ero Copper from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. Desjardins began coverage on shares of Ero Copper in a research report on Friday, April 4th. They set a "hold" rating for the company. TD Cowen raised shares of Ero Copper from a "hold" rating to a "buy" rating in a research report on Wednesday, February 12th. Finally, BMO Capital Markets started coverage on shares of Ero Copper in a report on Wednesday, April 16th. They set an "outperform" rating for the company. One research analyst has rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $26.33.

Ero Copper Stock Performance

NYSE:ERO traded up $0.02 during mid-day trading on Friday, reaching $13.39. 419,141 shares of the company's stock were exchanged, compared to its average volume of 398,791. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.45 and a current ratio of 0.68. The firm has a market capitalization of $1.39 billion, a PE ratio of 78.76 and a beta of 1.10. Ero Copper Corp. has a one year low of $9.30 and a one year high of $24.34. The business's fifty day simple moving average is $12.11 and its two-hundred day simple moving average is $13.75.

Ero Copper (NYSE:ERO - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.17 by $0.18. The company had revenue of $125.10 million for the quarter, compared to analysts' expectations of $179.45 million. Ero Copper had a net margin of 3.67% and a return on equity of 11.30%. Analysts anticipate that Ero Copper Corp. will post 0.71 earnings per share for the current fiscal year.

About Ero Copper

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.