Cape Ann Asset Management Ltd Has $48.59 Million Holdings in Ero Copper Corp. $ERO

Cape Ann Asset Management Ltd increased its holdings in shares of Ero Copper Corp. (NYSE:ERO) by 65.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,717,643 shares of the company’s stock after buying an additional 682,500 shares during the period. Ero Copper accounts for about 13.2% of Cape Ann Asset Management Ltd’s investment portfolio, making the stock its 2nd biggest holding. Cape Ann Asset Management Ltd’s holdings in Ero Copper were worth $48,592,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. TD Waterhouse Canada Inc. grew its holdings in Ero Copper by 2.2% during the fourth quarter. TD Waterhouse Canada Inc. now owns 17,852 shares of the company’s stock valued at $503,000 after purchasing an additional 380 shares during the period. Pictet Asset Management Holding SA grew its holdings in Ero Copper by 3.3% during the fourth 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 during the period. FNY Investment Advisers LLC acquired a new position in Ero Copper during the fourth quarter valued at approximately $25,000. Geode Capital Management LLC grew its holdings in Ero Copper by 3.4% during the second quarter. Geode Capital Management LLC now owns 55,170 shares of the company’s stock valued at $936,000 after purchasing an additional 1,823 shares during the period. Finally, CIBC Asset Management Inc lifted its stake in Ero Copper by 2.0% in the fourth quarter. CIBC Asset Management Inc now owns 95,032 shares of the company’s stock valued at $2,690,000 after buying an additional 1,903 shares in the last quarter. Institutional investors and hedge funds own 71.30% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. 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. The Goldman Sachs Group lowered shares of Ero Copper from a “buy” rating to a “neutral” rating and cut their price target for the company from $33.00 to $31.00 in a research note on Tuesday, April 14th. Wall Street Zen lowered shares of Ero Copper from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Ero Copper in a research report on Thursday, June 4th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and ten have given 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 an average price target of $31.50.

Ero Copper Trading Up 6.1%

ERO stock opened at $29.39 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 company’s 50-day simple moving average is $28.44 and its 200 day simple moving average is $28.61. Ero Copper Corp. has a 52 week low of $12.79 and a 52 week high of $39.80. The company has a market capitalization of $3.06 billion, a PE ratio of 10.46 and a beta of 1.17.

Ero Copper (NYSE:ERO) last released its quarterly earnings results on Monday, May 4th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.56 by $0.13. Ero Copper had a net margin of 31.63% and a return on equity of 27.33%. The business had revenue of $263.20 million for the quarter, compared to the consensus estimate of $245.51 million. As a group, sell-side analysts anticipate that Ero Copper Corp. will post 3.92 earnings per share for the current year.

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.