Sanders Morris Harris LLC Makes New Investment in Ero Copper Corp. $ERO

Sanders Morris Harris LLC bought a new position in Ero Copper Corp. (NYSE:ERO) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 21,500 shares of the company’s stock, valued at approximately $807,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Ero Copper in the fourth quarter valued at about $38,000. PenderFund Capital Management Ltd. bought a new position in shares of Ero Copper during the second quarter valued at about $39,000. Banque Cantonale Vaudoise boosted its holdings in Ero Copper by 20.0% during the first quarter. Banque Cantonale Vaudoise now owns 9,000 shares of the company’s stock worth $239,000 after purchasing an additional 1,500 shares during the last quarter. Corient Private Wealth LP purchased a new position in Ero Copper during the second quarter worth about $242,000. Finally, Themes Management Co LLC purchased a new position in Ero Copper during the first quarter worth about $255,000. Hedge funds and other institutional investors own 71.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ERO. Bank of America raised shares of Ero Copper from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $30.00 to $34.00 in a research report on Thursday, July 16th. Wall Street Zen raised shares of Ero Copper from a “hold” rating to a “buy” rating in a research report on Saturday, September 26th. TD Securities restated a “hold” rating on shares of Ero Copper in a research note on Friday, August 7th. Weiss Ratings upgraded Ero Copper from a “hold (c+)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Ero Copper in a report on Monday, July 6th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.33.

Ero Copper Trading Down 6.0%

NYSE ERO opened at $34.45 on Thursday. The business’s fifty day moving average is $36.10 and its 200-day moving average is $30.63. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 0.81. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 0.29 and a beta of 1.27. Ero Copper Corp. has a one year low of $19.09 and a one year high of $40.83.

Ero Copper (NYSE:ERO) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.09. Ero Copper had a net margin of 29.79% and a return on equity of 30.32%. The company had revenue of $284.30 million during the quarter, compared to analyst estimates of $277.64 million. Equities research analysts predict that Ero Copper Corp. will post 4.28 EPS for the current year.

About Ero Copper

Ero Copper Corp. is a Canadian mining company focused on the exploration, development and production of copper, gold and other mineral resources in Brazil. The company is headquartered in Vancouver, British Columbia, and its shares trade on the New York Stock Exchange and the Toronto Stock Exchange under the symbol ERO.

Ero Copper’s principal assets include the Caraíba Mining Complex in the state of Bahia, which produces copper, and the NX Gold operation in Mato Grosso, which produces gold.