Van ECK Associates Corp Increases Stock Holdings in Ero Copper Corp. (NYSE:ERO)

Van ECK Associates Corp increased its stake in Ero Copper Corp. (NYSE:ERO) by 16.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 113,060 shares of the company’s stock after acquiring an additional 15,688 shares during the quarter. Van ECK Associates Corp’s holdings in Ero Copper were worth $1,787,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ERO. Acuitas Investments LLC increased its stake in shares of Ero Copper by 61.5% during the fourth quarter. Acuitas Investments LLC now owns 2,100 shares of the company’s stock worth $33,000 after purchasing an additional 800 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Ero Copper by 7.8% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 11,636 shares of the company’s stock worth $201,000 after acquiring an additional 843 shares during the last quarter. Raymond James & Associates boosted its stake in shares of Ero Copper by 2.7% in the fourth quarter. Raymond James & Associates now owns 50,551 shares of the company’s stock worth $798,000 after acquiring an additional 1,346 shares during the last quarter. Keybank National Association OH boosted its stake in shares of Ero Copper by 13.3% in the third quarter. Keybank National Association OH now owns 13,310 shares of the company’s stock worth $229,000 after acquiring an additional 1,560 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its stake in shares of Ero Copper by 9.5% in the third quarter. Mackenzie Financial Corp now owns 40,093 shares of the company’s stock worth $691,000 after acquiring an additional 3,468 shares during the last quarter. 71.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ERO shares. Pi Financial raised Ero Copper from a “neutral” rating to a “buy” rating in a research note on Thursday, April 18th. Jefferies Financial Group initiated coverage on Ero Copper in a research report on Friday, May 3rd. They set a “hold” rating on the stock. Finally, TheStreet upgraded Ero Copper from a “c” rating to a “b-” rating in a research report on Friday, March 8th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $24.00.

Ero Copper Stock Up 2.0 %

NYSE:ERO opened at $21.34 on Thursday. Ero Copper Corp. has a 52 week low of $11.35 and a 52 week high of $24.38. The company has a quick ratio of 0.94, a current ratio of 1.23 and a debt-to-equity ratio of 0.65. The stock’s fifty day moving average is $19.43 and its two-hundred day moving average is $16.30. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 21.78 and a beta of 1.21.

Ero Copper (NYSE:ERO) last announced its earnings results on Thursday, March 7th. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). The firm had revenue of $116.41 million for the quarter, compared to analysts’ expectations of $104.20 million. Ero Copper had a net margin of 21.71% and a return on equity of 13.16%. During the same quarter last year, the business earned $0.24 earnings per share. Research analysts anticipate that Ero Copper Corp. will post 1.6 EPS for the current year.

About Ero Copper

Ero Copper Corp. engages in the exploration, development, and production of mining projects in Brazil. The company is involved in the production and sale of copper concentrate from the Caraíba operations located in the Curaçá Valley, northeastern Bahia state, Brazil, as well as gold and silver by-products.