Canoe Financial LP Acquires Shares of 33,871 Ero Copper Corp. (NYSE:ERO)

Canoe Financial LP bought a new position in shares of Ero Copper Corp. (NYSE:ERO) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 33,871 shares of the company’s stock, valued at approximately $456,000.

Several other hedge funds also recently made changes to their positions in the company. Exchange Traded Concepts LLC bought a new position in Ero Copper during the third quarter worth $38,000. Toronto Dominion Bank raised its holdings in shares of Ero Copper by 38.7% during the second quarter. Toronto Dominion Bank now owns 2,539 shares of the company’s stock worth $54,000 after purchasing an additional 709 shares during the period. Sentry Investment Management LLC bought a new position in shares of Ero Copper in the 3rd quarter worth about $457,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Ero Copper by 6.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,408 shares of the company’s stock worth $522,000 after buying an additional 1,475 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Ero Copper by 23.9% in the 3rd quarter. Janus Henderson Group PLC now owns 27,408 shares of the company’s stock valued at $600,000 after buying an additional 5,286 shares during the period. Institutional investors and hedge funds own 71.30% of the company’s stock.

Ero Copper Trading Up 1.8 %

Ero Copper stock opened at $14.15 on Friday. Ero Copper Corp. has a 52-week low of $12.78 and a 52-week high of $24.34. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 83.21 and a beta of 1.15. The firm has a 50-day moving average price of $14.47 and a two-hundred day moving average price of $18.22.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group started coverage on shares of Ero Copper in a research note on Monday, December 2nd. They set a “buy” rating and a $19.00 price objective on the stock. StockNews.com upgraded Ero Copper from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $26.33.

About Ero Copper

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.