Legal & General Group Plc Invests $2.56 Million in Ero Copper Corp. $ERO

Legal & General Group Plc purchased a new position in shares of Ero Copper Corp. (NYSE:ERO) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 96,015 shares of the company’s stock, valued at approximately $2,563,000.

A number of other hedge funds have also recently added to or reduced their stakes in ERO. Pictet Asset Management Holding SA boosted its holdings in Ero Copper by 3.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 18,103 shares of the company’s stock valued at $513,000 after purchasing an additional 574 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Ero Copper by 3.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 32,833 shares of the company’s stock worth $933,000 after buying an additional 1,107 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Ero Copper in the 4th quarter valued at approximately $38,000. Banque Cantonale Vaudoise boosted its stake in shares of Ero Copper by 20.0% in the first quarter. Banque Cantonale Vaudoise now owns 9,000 shares of the company’s stock valued at $239,000 after buying an additional 1,500 shares in the last quarter. Finally, Jain Global LLC boosted its stake in shares of Ero Copper by 12.7% in the fourth quarter. Jain Global LLC now owns 13,300 shares of the company’s stock valued at $376,000 after buying an additional 1,500 shares in the last quarter. Institutional investors and hedge funds own 71.30% of the company’s stock.

Ero Copper Stock Down 1.4%

Ero Copper stock opened at $34.82 on Friday. 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 firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 0.28 and a beta of 1.27. Ero Copper Corp. has a fifty-two week low of $14.89 and a fifty-two week high of $40.83. The stock’s fifty day moving average is $30.48 and its two-hundred day moving average is $29.18.

Ero Copper (NYSE:ERO) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.83 earnings per share (EPS) for the quarter, topping 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 business had revenue of $284.30 million during the quarter, compared to the consensus estimate of $277.64 million. Analysts predict that Ero Copper Corp. will post 3.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ERO has been the subject of several research analyst reports. Bradesco Corretora cut Ero Copper from an “outperform” rating to a “neutral” rating in a research report on Wednesday. Scotiabank restated an “outperform” rating on shares of Ero Copper in a research report on Monday, June 15th. Wall Street Zen cut shares of Ero Copper from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. Jefferies Financial Group reiterated a “hold” rating on shares of Ero Copper in a report on Monday, July 6th. Finally, TD Securities reiterated a “hold” rating on shares of Ero Copper in a research note on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $32.33.

Ero Copper 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.