Man Group plc Makes New Investment in Ero Copper Corp. $ERO

Man Group plc acquired a new stake in shares of Ero Copper Corp. (NYSE:ERO) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 198,487 shares of the company’s stock, valued at approximately $5,305,000. Man Group plc owned about 0.19% of Ero Copper as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of ERO. Jupiter Topco LLC purchased a new stake in shares of Ero Copper in the second quarter worth about $9,397,000. Kapitalo Investimentos Ltda purchased a new position in Ero Copper during the second quarter valued at approximately $28,802,000. Legal & General Group Plc purchased a new position in Ero Copper during the second quarter valued at approximately $2,563,000. The Manufacturers Life Insurance Company acquired a new position in Ero Copper in the second quarter valued at approximately $14,905,000. Finally, Cibc World Market Inc. acquired a new position in Ero Copper in the second quarter valued at approximately $1,563,000. Institutional investors and hedge funds own 71.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ERO shares. TD Securities reaffirmed a “hold” rating on shares of Ero Copper in a research note on Friday, August 7th. Wall Street Zen lowered shares of Ero Copper from a “buy” rating to a “hold” rating in a research report on Saturday. Bank of America raised shares of Ero Copper from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $30.00 to $34.00 in a report on Thursday, July 16th. National Bank Financial upgraded shares of Ero Copper from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, May 5th. Finally, Zacks Research cut Ero Copper from a “hold” rating to a “strong sell” rating in a research report on Monday, August 17th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $32.33.

Ero Copper Trading Up 0.1%

Shares of ERO stock opened at $38.88 on Monday. Ero Copper Corp. has a 1-year low of $13.91 and a 1-year high of $40.83. The company has a market cap of $4.06 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 0.31 and a beta of 1.21. 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 50 day simple moving average of $29.70 and a 200-day simple moving average of $29.00.

Ero Copper (NYSE:ERO) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. The firm had revenue of $284.30 million for the quarter, compared to analysts’ expectations of $277.64 million. Ero Copper had a net margin of 29.79% and a return on equity of 30.32%. On average, equities research analysts expect that Ero Copper Corp. will post 3.98 EPS for the current fiscal year.

Ero Copper Profile

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.