Temasek Holdings Private Ltd Increases Stake in Ero Copper Corp. $ERO

Temasek Holdings Private Ltd lifted its position in Ero Copper Corp. (NYSE:ERO) by 22.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 579,162 shares of the company’s stock after buying an additional 105,502 shares during the period. Temasek Holdings Private Ltd’s holdings in Ero Copper were worth $15,396,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in ERO. FNY Investment Advisers LLC bought a new stake in shares of Ero Copper in the 4th quarter valued at about $25,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Ero Copper in the 4th quarter worth approximately $38,000. Kestra Advisory Services LLC bought a new position in shares of Ero Copper during the fourth quarter valued at approximately $56,000. SG Americas Securities LLC bought a new position in shares of Ero Copper during the fourth quarter valued at approximately $115,000. Finally, Banque Cantonale Vaudoise purchased a new position in Ero Copper during the third quarter valued at approximately $111,000. 71.30% of the stock is owned by hedge funds and other institutional investors.

Ero Copper Price Performance

NYSE ERO opened at $26.87 on Wednesday. The firm’s fifty day simple moving average is $27.50 and its two-hundred day simple moving average is $28.82. The firm has a market capitalization of $2.80 billion, a P/E ratio of 9.56, a P/E/G ratio of 0.20 and a beta of 1.20. The company has a current ratio of 1.30, a quick ratio of 0.81 and a debt-to-equity ratio of 0.50. Ero Copper Corp. has a 12-month low of $12.79 and a 12-month high of $39.80.

Ero Copper (NYSE:ERO) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.56 by $0.13. The firm had revenue of $263.20 million during the quarter, compared to analyst estimates of $245.51 million. Ero Copper had a return on equity of 27.33% and a net margin of 31.63%. Analysts forecast that Ero Copper Corp. will post 3.98 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Bradesco Corretora raised shares of Ero Copper to an “outperform” rating in a research note on Monday. Scotiabank reiterated an “outperform” rating on shares of Ero Copper in a report on Monday, June 15th. Wall Street Zen lowered Ero Copper from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. The Goldman Sachs Group lowered Ero Copper from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $33.00 to $31.00 in a research report on Tuesday, April 14th. Finally, Jefferies Financial Group restated a “hold” rating on shares of Ero Copper in a research note on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.