Scotia Capital Inc. Boosts Holdings in Ero Copper Corp. $ERO

Scotia Capital Inc. grew its stake in Ero Copper Corp. (NYSE:ERO) by 12.3% during the 2nd quarter, Holdings Channel reports. The firm owned 303,008 shares of the company’s stock after purchasing an additional 33,146 shares during the quarter. Scotia Capital Inc.’s holdings in Ero Copper were worth $5,039,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Northwest & Ethical Investments L.P. raised its position in shares of Ero Copper by 22.6% during the 1st quarter. Northwest & Ethical Investments L.P. now owns 8,033 shares of the company’s stock worth $97,000 after purchasing an additional 1,483 shares during the last quarter. Virtu Financial LLC purchased a new stake in Ero Copper during the 1st quarter worth approximately $180,000. XTX Topco Ltd acquired a new position in shares of Ero Copper during the first quarter valued at approximately $188,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Ero Copper in the first quarter valued at approximately $217,000. Finally, Rathbones Group PLC lifted its position in shares of Ero Copper by 19.3% in the second quarter. Rathbones Group PLC now owns 15,903 shares of the company’s stock valued at $268,000 after acquiring an additional 2,570 shares in the last quarter. Hedge funds and other institutional investors own 71.30% of the company’s stock.

Ero Copper Stock Performance

NYSE ERO opened at $25.25 on Friday. The stock’s fifty day moving average is $21.47 and its two-hundred day moving average is $17.20. The firm has a market capitalization of $2.62 billion, a P/E ratio of 18.43 and a beta of 1.25. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.80 and a current ratio of 1.05. Ero Copper Corp. has a fifty-two week low of $9.30 and a fifty-two week high of $25.78.

Ero Copper (NYSE:ERO) last issued its earnings results on Tuesday, November 4th. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.09). The company had revenue of $177.10 million during the quarter, compared to analyst estimates of $309.30 million. Ero Copper had a return on equity of 17.96% and a net margin of 26.63%. On average, research analysts anticipate that Ero Copper Corp. will post 0.71 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ERO. Wall Street Zen upgraded Ero Copper from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ero Copper in a research note on Wednesday, October 8th. The Goldman Sachs Group upped their target price on shares of Ero Copper from $18.50 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Stifel Canada cut shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. Finally, TD Securities downgraded shares of Ero Copper from a “buy” rating to a “hold” rating in a research note on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $25.00.

Ero Copper Company Profile

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.