Mackenzie Financial Corp Increases Position in Ero Copper Corp. (NYSE:ERO)

Mackenzie Financial Corp lifted its stake in shares of Ero Copper Corp. (NYSE:ERO) by 7.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,860 shares of the company’s stock after buying an additional 3,480 shares during the quarter. Mackenzie Financial Corp’s holdings in Ero Copper were worth $616,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. BTG Pactual Asset Management US LLC raised its stake in Ero Copper by 12.6% during the fourth quarter. BTG Pactual Asset Management US LLC now owns 13,173 shares of the company’s stock valued at $178,000 after buying an additional 1,473 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Ero Copper by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 48,667 shares of the company’s stock valued at $662,000 after buying an additional 1,727 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of Ero Copper by 8.7% in the 4th quarter. Public Employees Retirement System of Ohio now owns 31,915 shares of the company’s stock valued at $430,000 after buying an additional 2,550 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Ero Copper by 5.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 55,103 shares of the company’s stock valued at $668,000 after buying an additional 2,958 shares during the last quarter. Finally, Acuitas Investments LLC acquired a new stake in Ero Copper during the first quarter worth about $39,000. 71.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ERO has been the subject of a number of research reports. Wall Street Zen downgraded Ero Copper from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 12th. Raymond James Financial upgraded Ero Copper to a “moderate buy” rating in a research report on Monday, June 30th. TD Securities reaffirmed a “buy” rating on shares of Ero Copper in a research report on Wednesday, May 7th. BMO Capital Markets reiterated an “outperform” rating on shares of Ero Copper in a research note on Friday, July 4th. Finally, Stifel Canada raised shares of Ero Copper to a “strong-buy” rating in a report on Tuesday, July 8th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $23.50.

Ero Copper Stock Down 2.5%

ERO opened at $13.56 on Thursday. The stock’s 50 day moving average price is $15.16 and its 200 day moving average price is $13.59. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.05 and a quick ratio of 0.80. The stock has a market cap of $1.40 billion, a P/E ratio of 9.90 and a beta of 1.16. Ero Copper Corp. has a 12 month low of $9.30 and a 12 month high of $23.40.

Ero Copper (NYSE:ERO) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.13. Ero Copper had a return on equity of 17.96% and a net margin of 26.63%. The company had revenue of $163.50 million during the quarter, compared to analysts’ expectations of $263.23 million. As a group, research analysts predict that Ero Copper Corp. will post 0.71 earnings per share for the current year.

Ero Copper Company Profile

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.