Raymond James & Associates Increases Stock Holdings in Ero Copper Corp. (NYSE:ERO)

Raymond James & Associates increased its stake in Ero Copper Corp. (NYSE:ERO) by 2.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 50,551 shares of the company’s stock after acquiring an additional 1,346 shares during the quarter. Raymond James & Associates’ holdings in Ero Copper were worth $798,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new stake in shares of Ero Copper in the third quarter worth approximately $131,000. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Ero Copper by 7.8% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 11,636 shares of the company’s stock worth $201,000 after buying an additional 843 shares in the last quarter. Keybank National Association OH raised its position in shares of Ero Copper by 13.3% in the third quarter. Keybank National Association OH now owns 13,310 shares of the company’s stock valued at $229,000 after buying an additional 1,560 shares during the last quarter. Mackenzie Financial Corp lifted its stake in shares of Ero Copper by 9.5% in the third quarter. Mackenzie Financial Corp now owns 40,093 shares of the company’s stock worth $691,000 after buying an additional 3,468 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its position in Ero Copper by 10.3% during the third quarter. CIBC Asset Management Inc now owns 87,349 shares of the company’s stock worth $1,511,000 after acquiring an additional 8,165 shares during the last quarter. 71.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on ERO shares. Pi Financial upgraded shares of Ero Copper from a “neutral” rating to a “buy” rating in a report on Thursday, April 18th. TheStreet upgraded Ero Copper from a “c” rating to a “b-” rating in a research report on Friday, March 8th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $24.00.

Ero Copper Stock Performance

NYSE:ERO opened at $19.23 on Wednesday. The company’s 50-day moving average is $18.46 and its two-hundred day moving average is $15.88. Ero Copper Corp. has a 1-year low of $11.35 and a 1-year high of $24.38. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.23 and a quick ratio of 0.94. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 19.62 and a beta of 1.26.

Ero Copper (NYSE:ERO) last released its quarterly earnings results on Thursday, March 7th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.02). The firm had revenue of $116.41 million for the quarter, compared to analysts’ expectations of $104.20 million. Ero Copper had a net margin of 21.71% and a return on equity of 13.16%. During the same period in the previous year, the firm posted $0.24 EPS. Analysts forecast that Ero Copper Corp. will post 1.49 EPS for the current 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.