CIBC Asset Management Inc Raises Position in Ero Copper Corp. (NYSE:ERO)

CIBC Asset Management Inc raised its holdings in shares of Ero Copper Corp. (NYSE:ERO) by 3.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 117,832 shares of the company’s stock after buying an additional 3,746 shares during the period. CIBC Asset Management Inc owned about 0.11% of Ero Copper worth $2,624,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Exchange Traded Concepts LLC purchased a new stake in Ero Copper during the 3rd quarter valued at about $38,000. Toronto Dominion Bank lifted its position in Ero Copper by 38.7% in the second 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. Chesapeake Capital Corp IL purchased a new stake in shares of Ero Copper during the second quarter valued at approximately $351,000. Sentry Investment Management LLC bought a new position in shares of Ero Copper in the third quarter worth approximately $457,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Ero Copper by 6.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,933 shares of the company’s stock worth $469,000 after buying an additional 1,277 shares during the period. 71.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ERO shares. Jefferies Financial Group raised shares of Ero Copper from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Bank of America assumed coverage on Ero Copper in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $28.00 target price on the stock. Raymond James raised Ero Copper from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 3rd. Finally, StockNews.com upgraded Ero Copper from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $30.00.

Ero Copper Stock Performance

Ero Copper stock opened at $16.10 on Wednesday. Ero Copper Corp. has a fifty-two week low of $11.56 and a fifty-two week high of $24.34. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 94.71 and a beta of 1.23. The stock’s 50 day simple moving average is $19.69 and its two-hundred day simple moving average is $20.37. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 0.82.

Ero Copper 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.