Sprott Inc. Increases Stock Position in Ero Copper Corp. (NYSE:ERO)

Sprott Inc. increased its position in shares of Ero Copper Corp. (NYSE:ERO) by 42.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 455,289 shares of the company’s stock after buying an additional 135,049 shares during the period. Sprott Inc. owned about 0.44% of Ero Copper worth $6,137,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Synergy Asset Management LLC purchased a new stake in shares of Ero Copper during the fourth quarter worth about $78,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in Ero Copper during the 4th quarter worth approximately $125,000. Sentry Investment Management LLC raised its position in shares of Ero Copper by 5.8% in the 4th quarter. Sentry Investment Management LLC now owns 21,716 shares of the company’s stock valued at $293,000 after purchasing an additional 1,188 shares in the last quarter. Canoe Financial LP purchased a new position in shares of Ero Copper during the 4th quarter valued at approximately $456,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Ero Copper by 6.7% during the third 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 in the last quarter. Institutional investors and hedge funds own 71.30% of the company’s stock.

Analysts Set New Price Targets

ERO has been the topic of several recent analyst reports. The Goldman Sachs Group started coverage on shares of Ero Copper in a report on Monday, December 2nd. They issued a “buy” rating and a $19.00 price target on the stock. TD Securities upgraded shares of Ero Copper from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 12th. Finally, TD Cowen upgraded Ero Copper from a “hold” rating to a “buy” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $26.33.

Ero Copper Price Performance

ERO opened at $12.78 on Wednesday. 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 company’s 50-day moving average price is $13.70 and its 200 day moving average price is $16.92. Ero Copper Corp. has a fifty-two week low of $12.59 and a fifty-two week high of $24.34. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 75.15 and a beta of 1.14.

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.