Connor Clark & Lunn Investment Management Ltd. Takes $19.89 Million Position in Ero Copper Corp. $ERO

Connor Clark & Lunn Investment Management Ltd. 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 745,511 shares of the company’s stock, valued at approximately $19,887,000.

Other hedge funds have also made changes to their positions in the company. FIL Ltd boosted its stake in shares of Ero Copper by 74.1% in the fourth quarter. FIL Ltd now owns 11,670,422 shares of the company’s stock worth $330,161,000 after acquiring an additional 4,966,427 shares during the last quarter. Invesco Ltd. raised its stake in Ero Copper by 10.7% in the 4th quarter. Invesco Ltd. now owns 2,827,385 shares of the company’s stock valued at $79,987,000 after purchasing an additional 273,470 shares during the last quarter. Vanguard Group Inc. raised its stake in Ero Copper by 77.6% in the 4th quarter. Vanguard Group Inc. now owns 2,546,856 shares of the company’s stock valued at $72,051,000 after purchasing an additional 1,112,428 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Ero Copper by 11.1% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,507,087 shares of the company’s stock valued at $50,794,000 after purchasing an additional 250,303 shares in the last quarter. Finally, Cape Ann Asset Management Ltd lifted its holdings in Ero Copper by 13.5% in the 1st quarter. Cape Ann Asset Management Ltd now owns 1,949,128 shares of the company’s stock valued at $51,983,000 after purchasing an additional 231,485 shares in the last quarter. Institutional investors and hedge funds own 71.30% of the company’s stock.

Ero Copper Stock Performance

Shares of Ero Copper stock opened at $40.42 on Wednesday. The business’s 50 day moving average price is $29.13 and its 200 day moving average price is $28.83. The company has a market cap of $4.22 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 0.31 and a beta of 1.21. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.81 and a current ratio of 1.30. Ero Copper Corp. has a one year low of $13.91 and a one year high of $40.54.

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, beating the consensus estimate of $0.74 by $0.09. Ero Copper had a return on equity of 30.32% and a net margin of 29.79%.The company had revenue of $284.30 million during the quarter, compared to analysts’ expectations of $277.64 million. On average, research analysts predict that Ero Copper Corp. will post 3.98 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ERO. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ero Copper in a report on Thursday, June 4th. 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. Scotiabank restated an “outperform” rating on shares of Ero Copper in a research report on Monday, June 15th. Bradesco Corretora raised shares of Ero Copper to an “outperform” rating in a research note on Monday, July 20th. Finally, Zacks Research downgraded shares of Ero Copper from a “hold” rating to a “strong sell” rating in a report on Monday, August 17th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $32.33.

Ero Copper Company 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.