Ero Copper Corp. $ERO Shares Bought by Lazard Asset Management LLC

Lazard Asset Management LLC boosted its position in shares of Ero Copper Corp. (NYSE:ERO) by 56.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 106,684 shares of the company’s stock after buying an additional 38,322 shares during the period. Lazard Asset Management LLC’s holdings in Ero Copper were worth $2,845,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ERO. Concurrent Investment Advisors LLC acquired a new position in Ero Copper during the 4th quarter worth about $1,142,000. Artemis Investment Management LLP acquired a new position in Ero Copper during the 4th quarter worth approximately $14,363,000. Cape Ann Asset Management Ltd increased its holdings in Ero Copper by 13.5% in the first quarter. Cape Ann Asset Management Ltd now owns 1,949,128 shares of the company’s stock valued at $51,983,000 after buying an additional 231,485 shares during the last quarter. Temasek Holdings Private Ltd increased its holdings in shares of Ero Copper by 22.3% in the 1st quarter. Temasek Holdings Private Ltd now owns 579,162 shares of the company’s stock valued at $15,396,000 after acquiring an additional 105,502 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Ero Copper by 4,913.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 974,932 shares of the company’s stock worth $26,000,000 after purchasing an additional 955,487 shares in the last quarter. Hedge funds and other institutional investors own 71.30% of the company’s stock.

Ero Copper Trading Down 0.6%

Shares of ERO stock opened at $26.88 on Friday. Ero Copper Corp. has a 1-year low of $12.79 and a 1-year high of $39.80. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 0.81. The business’s fifty day moving average price is $27.26 and its 200 day moving average price is $28.66. The firm has a market capitalization of $2.80 billion, a PE ratio of 9.56, a P/E/G ratio of 0.21 and a beta of 1.20.

Ero Copper (NYSE:ERO) last issued its earnings results on Monday, May 4th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.56 by $0.13. Ero Copper had a net margin of 31.63% and a return on equity of 27.33%. The company had revenue of $263.20 million for the quarter, compared to analyst estimates of $245.51 million. As a group, sell-side analysts forecast that Ero Copper Corp. will post 4.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ERO. Weiss Ratings reissued a “hold (c+)” rating on shares of Ero Copper in a report on Thursday, June 4th. Wall Street Zen downgraded shares of Ero Copper from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Scotiabank reiterated an “outperform” rating on shares of Ero Copper in a research note on Monday, June 15th. The Goldman Sachs Group downgraded shares of Ero Copper from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $33.00 to $31.00 in a research report on Tuesday, April 14th. Finally, Jefferies Financial Group restated a “hold” rating on shares of Ero Copper in a research note on Monday, July 6th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $32.33.

Ero Copper Profile

Ero Copper Corp (NYSE: ERO) is a Canada-based natural resource company focused on the production of copper concentrate from its Brazilian operations. The company’s flagship asset is the Vale do Curaçá mining complex in the state of Bahia, which includes multiple underground mines and a centralized processing facility. Ero Copper’s primary product is copper concentrate, which is sold to smelters and end users around the world.

The Vale do Curaçá complex comprises the Pilar and Surubim underground mines, supported by a fully integrated processing plant.