Exchange Traded Concepts LLC Buys New Shares in Ero Copper Corp. (NYSE:ERO)

Exchange Traded Concepts LLC purchased a new position in shares of Ero Copper Corp. (NYSE:ERO) in the third quarter, according to its most recent filing with the SEC. The firm purchased 1,700 shares of the company’s stock, valued at approximately $38,000.

Other hedge funds have also recently made changes to their positions in the company. Toronto Dominion Bank boosted its position in shares of Ero Copper by 38.7% during the 2nd quarter. Toronto Dominion Bank now owns 2,539 shares of the company’s stock valued at $54,000 after purchasing an additional 709 shares in the last quarter. Chesapeake Capital Corp IL acquired a new position in shares of Ero Copper during the second quarter valued at about $351,000. Platinum Investment Management Ltd. boosted its position in shares of Ero Copper by 15.9% during the 1st quarter. Platinum Investment Management Ltd. now owns 18,738 shares of the company’s stock worth $362,000 after purchasing an additional 2,564 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Ero Copper by 6.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,933 shares of the company’s stock valued at $469,000 after buying an additional 1,277 shares during the period. Finally, Janus Henderson Group PLC grew its stake in shares of Ero Copper by 28.2% in the 1st quarter. Janus Henderson Group PLC now owns 32,994 shares of the company’s stock valued at $637,000 after buying an additional 7,257 shares during the period. 71.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ERO has been the subject of several recent research reports. Raymond James upgraded Ero Copper from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 3rd. BMO Capital Markets raised shares of Ero Copper from a “market perform” rating to an “outperform” rating in a research report on Wednesday, June 26th. Jefferies Financial Group raised shares of Ero Copper from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Ventum Cap Mkts raised Ero Copper from a “hold” rating to a “strong-buy” rating in a report on Monday, July 22nd. Finally, Bank of America started coverage on Ero Copper in a report on Tuesday, September 3rd. They set a “buy” rating and a $28.00 price target on the stock. One analyst has rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $30.00.

Ero Copper Stock Down 1.5 %

Ero Copper stock opened at $19.49 on Thursday. The firm has a 50 day moving average price of $20.62 and a 200-day moving average price of $20.71. Ero Copper Corp. has a twelve month low of $11.35 and a twelve month high of $24.34. The company has a market capitalization of $2.01 billion, a P/E ratio of 29.98 and a beta of 1.20. The company has a quick ratio of 0.60, a current ratio of 0.82 and a debt-to-equity ratio of 0.59.

Ero Copper (NYSE:ERO) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. Ero Copper had a positive return on equity of 9.89% and a negative net margin of 4.79%. The firm had revenue of $117.10 million for the quarter. During the same period in the prior year, the company earned $0.24 EPS. As a group, equities analysts predict that Ero Copper Corp. will post 1.51 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.