622,089 Shares in Ero Copper Corp. $ERO Bought by Picton Mahoney Asset Management

Picton Mahoney Asset Management purchased a new position in Ero Copper Corp. (NYSE:ERO) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 622,089 shares of the company’s stock, valued at approximately $12,599,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada boosted its position in shares of Ero Copper by 2.3% during the 1st quarter. Royal Bank of Canada now owns 188,384 shares of the company’s stock worth $2,283,000 after purchasing an additional 4,325 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Ero Copper in the 1st quarter valued at about $217,000. Goldman Sachs Group Inc. raised its stake in Ero Copper by 82.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 275,598 shares of the company’s stock worth $3,340,000 after buying an additional 124,179 shares during the period. Empowered Funds LLC bought a new position in Ero Copper in the first quarter worth approximately $356,000. Finally, Envestnet Asset Management Inc. boosted its holdings in Ero Copper by 2.1% in the second quarter. Envestnet Asset Management Inc. now owns 56,255 shares of the company’s stock worth $948,000 after acquiring an additional 1,152 shares in the last quarter. 71.30% of the stock is owned by institutional investors.

Ero Copper Price Performance

Shares of NYSE:ERO opened at $31.76 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.46 and a debt-to-equity ratio of 0.64. The stock has a market cap of $3.31 billion, a PE ratio of 23.88 and a beta of 1.17. The stock’s fifty day simple moving average is $31.30 and its two-hundred day simple moving average is $24.33. Ero Copper Corp. has a 1-year low of $9.30 and a 1-year high of $39.80.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ERO shares. Raymond James Financial downgraded Ero Copper from a “moderate buy” rating to a “hold” rating in a report on Monday, February 9th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Ero Copper in a research report on Friday, December 5th. Wall Street Zen downgraded shares of Ero Copper from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. The Goldman Sachs Group raised their price objective on shares of Ero Copper from $25.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, January 14th. Finally, Canaccord Genuity Group upgraded shares of Ero Copper from a “hold” rating to a “buy” rating in a report on Wednesday, January 14th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, Ero Copper currently has an average rating of “Moderate Buy” and an average price target of $32.50.

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.