28,912 Shares in Ero Copper Corp. $ERO Bought by Spire Wealth Management

Spire Wealth Management bought a new stake in Ero Copper Corp. (NYSE:ERO) during the 3rd quarter, Holdings Channel reports. The fund bought 28,912 shares of the company’s stock, valued at approximately $586,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Ero Copper by 119.3% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,628,030 shares of the company’s stock worth $27,515,000 after buying an additional 885,630 shares during the period. Bank of America Corp DE grew its holdings in Ero Copper by 82.6% during the second quarter. Bank of America Corp DE now owns 1,775,632 shares of the company’s stock valued at $29,919,000 after purchasing an additional 803,320 shares during the period. Marshall Wace LLP increased its stake in Ero Copper by 2,384.8% in the second quarter. Marshall Wace LLP now owns 609,621 shares of the company’s stock valued at $10,272,000 after purchasing an additional 585,087 shares in the last quarter. GMT Capital Corp raised its holdings in Ero Copper by 7.7% in the second quarter. GMT Capital Corp now owns 7,467,055 shares of the company’s stock worth $125,865,000 after purchasing an additional 536,030 shares during the period. Finally, TD Asset Management Inc boosted its position in shares of Ero Copper by 56.2% during the second quarter. TD Asset Management Inc now owns 1,460,342 shares of the company’s stock worth $24,616,000 after purchasing an additional 525,252 shares in the last quarter. Institutional investors own 71.30% of the company’s stock.

Wall Street Analyst Weigh In

ERO has been the subject of several research analyst reports. Zacks Research raised shares of Ero Copper from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 6th. Cibc World Mkts lowered Ero Copper from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Jefferies Financial Group downgraded Ero Copper from a “buy” rating to a “hold” rating in a report on Sunday, December 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ero Copper in a research report on Monday, December 29th. Finally, Scotiabank upgraded Ero Copper from a “hold” rating to an “outperform” rating in a research report on Thursday, November 6th. Three investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $28.50.

Ero Copper Stock Performance

ERO opened at $29.23 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.82 and a quick ratio of 0.46. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 21.97 and a beta of 1.22. The business’s 50-day moving average price is $24.95 and its two-hundred day moving average price is $19.72. Ero Copper Corp. has a 1 year low of $9.30 and a 1 year high of $31.36.

Ero Copper (NYSE:ERO) last posted its quarterly earnings data 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 firm had revenue of $177.10 million for the quarter, compared to the consensus estimate of $309.30 million. Ero Copper had a return on equity of 17.07% and a net margin of 23.44%. Equities analysts expect that Ero Copper Corp. will post 0.71 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.