Man Group plc Purchases New Holdings in Ero Copper Corp. $ERO

Man Group plc acquired a new position in Ero Copper Corp. (NYSE:ERO) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 198,487 shares of the company’s stock, valued at approximately $5,305,000.

Other hedge funds have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Ero Copper in the fourth quarter worth approximately $38,000. Kestra Advisory Services LLC acquired a new position in Ero Copper in the 4th quarter valued at $56,000. Banque Cantonale Vaudoise purchased a new position in Ero Copper in the 3rd quarter valued at $111,000. Shay Capital LLC purchased a new position in Ero Copper in the 3rd quarter valued at $202,000. Finally, Barclays PLC boosted its stake in Ero Copper by 1,243.1% during the 4th quarter. Barclays PLC now owns 7,508 shares of the company’s stock worth $212,000 after purchasing an additional 6,949 shares during the last quarter. Institutional investors and hedge funds own 71.30% of the company’s stock.

Ero Copper Stock Performance

NYSE ERO opened at $38.88 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.81 and a current ratio of 1.30. The stock’s fifty day moving average is $29.70 and its two-hundred day moving average is $29.00. The firm has a market capitalization of $4.06 billion, a P/E ratio of 13.05, a price-to-earnings-growth ratio of 0.31 and a beta of 1.21. Ero Copper Corp. has a fifty-two week low of $13.91 and a fifty-two week high of $40.83.

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. TD Securities reaffirmed a “hold” rating on shares of Ero Copper in a report 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. National Bank Financial raised shares of Ero Copper from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, May 5th. Zacks Research cut shares of Ero Copper from a “hold” rating to a “strong sell” rating in a research note on Monday, August 17th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Ero Copper in a report on Thursday, June 4th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.