Quantbot Technologies LP Acquires New Position in Ero Copper Corp. $ERO

Quantbot Technologies LP acquired a new stake in shares of Ero Copper Corp. (NYSE:ERO) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 62,615 shares of the company’s stock, valued at approximately $1,267,000.

Other large investors have also recently modified their holdings of the company. GMT Capital Corp raised its holdings in shares of Ero Copper by 7.7% during the 2nd quarter. GMT Capital Corp now owns 7,467,055 shares of the company’s stock worth $125,865,000 after buying an additional 536,030 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Ero Copper by 82.6% during the 2nd quarter. Bank of America Corp DE now owns 1,775,632 shares of the company’s stock valued at $29,919,000 after acquiring an additional 803,320 shares in the last quarter. Impala Asset Management LLC grew its holdings in shares of Ero Copper by 3.0% during the second quarter. Impala Asset Management LLC now owns 1,699,100 shares of the company’s stock worth $28,494,000 after purchasing an additional 49,199 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Ero Copper by 119.3% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,628,030 shares of the company’s stock worth $27,515,000 after acquiring an additional 885,630 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Ero Copper by 1,614.0% in the third quarter. Vanguard Group Inc. now owns 1,434,428 shares of the company’s stock valued at $29,056,000 after purchasing an additional 1,350,738 shares during the period. Institutional investors and hedge funds own 71.30% of the company’s stock.

Ero Copper Stock Performance

NYSE:ERO opened at $28.77 on Friday. The company has a fifty day moving average of $31.33 and a 200-day moving average of $24.36. The firm has a market capitalization of $3.00 billion, a P/E ratio of 21.63 and a beta of 1.17. The company has a quick ratio of 0.46, a current ratio of 0.82 and a debt-to-equity ratio of 0.64. Ero Copper Corp. has a twelve month low of $9.30 and a twelve month high of $39.80.

Analysts Set New Price Targets

Several brokerages recently commented on ERO. The Goldman Sachs Group upped their target price on Ero Copper from $25.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, January 14th. ATB Cormark Capital Markets raised shares of Ero Copper to a “moderate buy” rating in a research note on Friday, February 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Ero Copper in a research report on Monday, December 29th. Scotiabank restated an “outperform” rating on shares of Ero Copper in a report on Monday, January 26th. Finally, Raymond James Financial cut shares of Ero Copper from a “moderate buy” rating to a “hold” rating in a research report on Monday, February 9th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.50.

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.