Ero Copper Corp. $ERO Shares Bought by Royal Bank of Canada

Royal Bank of Canada grew its position in shares of Ero Copper Corp. (NYSE:ERO) by 123.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 354,638 shares of the company’s stock after purchasing an additional 196,101 shares during the period. Royal Bank of Canada’s holdings in Ero Copper were worth $9,459,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ERO. Caitong International Asset Management Co. Ltd purchased a new position in shares of Ero Copper in the fourth quarter valued at $38,000. Kestra Advisory Services LLC purchased a new stake in Ero Copper during the 4th quarter worth $56,000. SG Americas Securities LLC acquired a new position in Ero Copper in the 4th quarter worth $115,000. Banque Cantonale Vaudoise acquired a new position in Ero Copper in the 3rd quarter worth $111,000. Finally, Barclays PLC boosted its position in Ero Copper by 1,243.1% in the 4th quarter. Barclays PLC now owns 7,508 shares of the company’s stock valued at $212,000 after buying an additional 6,949 shares during the last quarter. 71.30% of the stock is owned by institutional investors and hedge funds.

Ero Copper Trading Up 0.0%

NYSE ERO opened at $34.32 on Monday. Ero Copper Corp. has a 12 month low of $13.37 and a 12 month high of $39.80. 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 company has a market capitalization of $3.58 billion, a price-to-earnings ratio of 11.52, a price-to-earnings-growth ratio of 0.27 and a beta of 1.21. The company’s fifty day moving average price is $27.42 and its two-hundred day moving average price is $28.66.

Ero Copper (NYSE:ERO) last released its earnings results on Wednesday, August 5th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.09. The company had revenue of $284.30 million during the quarter, compared to the consensus estimate of $277.64 million. Ero Copper had a net margin of 29.79% and a return on equity of 30.32%. As a group, research analysts predict that Ero Copper Corp. will post 4.02 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ERO has been the subject of several recent analyst reports. Wall Street Zen upgraded Ero Copper from a “hold” rating to a “buy” rating in a research note on Saturday. The Goldman Sachs Group downgraded Ero Copper from a “buy” rating to a “neutral” rating and reduced their price target for the company from $33.00 to $31.00 in a report on Tuesday, April 14th. Weiss Ratings reissued a “hold (c+)” rating on shares of Ero Copper in a report on Thursday, June 4th. Scotiabank restated an “outperform” rating on shares of Ero Copper in a research note on Monday, June 15th. Finally, Jefferies Financial Group restated 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, six have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, Ero Copper presently has an average rating of “Moderate Buy” and an average target price of $32.33.

About Ero Copper

Ero Copper Corp (NYSE: ERO) is a Canada-based natural resource company focused on the production of copper concentrate from its Brazilian operations. The company’s flagship asset is the Vale do Curaçá mining complex in the state of Bahia, which includes multiple underground mines and a centralized processing facility. Ero Copper’s primary product is copper concentrate, which is sold to smelters and end users around the world.

The Vale do Curaçá complex comprises the Pilar and Surubim underground mines, supported by a fully integrated processing plant.