Connor Clark & Lunn Investment Management Ltd. Purchases 885,630 Shares of Ero Copper Corp. $ERO

Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Ero Copper Corp. (NYSE:ERO) by 119.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,628,030 shares of the company’s stock after acquiring an additional 885,630 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 1.57% of Ero Copper worth $27,515,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Jennison Associates LLC lifted its stake in Ero Copper by 5.0% during the second quarter. Jennison Associates LLC now owns 5,487,290 shares of the company’s stock worth $92,651,000 after purchasing an additional 259,830 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Ero Copper by 2.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 56,255 shares of the company’s stock worth $948,000 after buying an additional 1,152 shares in the last quarter. TD Asset Management Inc lifted its position in shares of Ero Copper by 56.2% during the 2nd quarter. TD Asset Management Inc now owns 1,460,342 shares of the company’s stock worth $24,616,000 after buying an additional 525,252 shares during the last quarter. Canoe Financial LP boosted its stake in Ero Copper by 6.6% in the second quarter. Canoe Financial LP now owns 33,756 shares of the company’s stock valued at $571,000 after buying an additional 2,100 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Ero Copper by 82.0% in the first quarter. Goldman Sachs Group Inc. now owns 275,598 shares of the company’s stock valued at $3,340,000 after acquiring an additional 124,179 shares during the last quarter. 71.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ERO. Weiss Ratings reissued a “hold (c)” rating on shares of Ero Copper in a report on Wednesday, October 8th. Canaccord Genuity Group downgraded shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 17th. Zacks Research lowered shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 29th. National Bankshares reiterated a “sector perform” rating on shares of Ero Copper in a report on Tuesday, August 5th. Finally, Wall Street Zen upgraded Ero Copper from a “hold” rating to a “buy” rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $25.00.

Ero Copper Stock Performance

NYSE ERO opened at $21.63 on Monday. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of 15.79 and a beta of 1.25. The company has a quick ratio of 0.80, a current ratio of 1.05 and a debt-to-equity ratio of 0.83. Ero Copper Corp. has a twelve month low of $9.30 and a twelve month high of $24.48. The stock has a fifty day simple moving average of $19.50 and a 200 day simple moving average of $16.23.

Ero Copper (NYSE:ERO) last released its earnings results on Tuesday, November 4th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.09). The firm had revenue of $177.10 million during the quarter, compared to analyst estimates of $309.30 million. Ero Copper had a net margin of 26.63% and a return on equity of 17.96%. Sell-side analysts expect that Ero Copper Corp. will post 0.71 EPS for the current year.

Ero Copper Company Profile

Ero Copper Corp. engages in the exploration, development, and production of mining projects in Brazil. The company is involved in the production and sale of copper concentrate from the Caraíba operations located in the Curaçá Valley, northeastern Bahia state, Brazil, as well as gold and silver by-products.