The Manufacturers Life Insurance Company Boosts Stake in Ero Copper Corp. (NYSE:ERO)

The Manufacturers Life Insurance Company increased its position in Ero Copper Corp. (NYSE:ERO) by 8.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 335,845 shares of the company’s stock after purchasing an additional 26,898 shares during the period. The Manufacturers Life Insurance Company’s holdings in Ero Copper were worth $7,484,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Toronto Dominion Bank lifted its holdings in shares of Ero Copper by 38.7% in the 2nd quarter. Toronto Dominion Bank now owns 2,539 shares of the company’s stock valued at $54,000 after purchasing an additional 709 shares during the last quarter. National Bank of Canada FI raised its stake in Ero Copper by 1.4% during the 2nd quarter. National Bank of Canada FI now owns 58,271 shares of the company’s stock valued at $1,238,000 after acquiring an additional 793 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Ero Copper by 6.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,933 shares of the company’s stock valued at $469,000 after acquiring an additional 1,277 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in Ero Copper during the 3rd quarter valued at approximately $38,000. Finally, CIBC Asset Management Inc raised its stake in Ero Copper by 3.3% during the 3rd quarter. CIBC Asset Management Inc now owns 117,832 shares of the company’s stock valued at $2,624,000 after acquiring an additional 3,746 shares during the last quarter. 71.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ERO has been the subject of several analyst reports. The Goldman Sachs Group initiated coverage on Ero Copper in a research note on Monday. They set a “buy” rating and a $19.00 price objective for the company. Raymond James raised Ero Copper from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 3rd. Bank of America began coverage on Ero Copper in a research report on Tuesday, September 3rd. They set a “buy” rating and a $28.00 target price on the stock. Finally, StockNews.com upgraded Ero Copper from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $26.33.

Ero Copper Stock Performance

NYSE ERO opened at $14.82 on Thursday. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 0.71. The business’s 50 day moving average is $18.41 and its two-hundred day moving average is $19.85. Ero Copper Corp. has a 12-month low of $12.59 and a 12-month high of $24.34. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 87.15 and a beta of 1.12.

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.