Glenmede Trust Co. NA Purchases Shares of 15,405 Ero Copper Corp. $ERO

Glenmede Trust Co. NA acquired a new position in Ero Copper Corp. (NYSE:ERO) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 15,405 shares of the company’s stock, valued at approximately $411,000.

Several other large investors have also recently modified their holdings of ERO. Amundi lifted its position in Ero Copper by 7.9% during the first quarter. Amundi now owns 519,497 shares of the company’s stock valued at $13,855,000 after acquiring an additional 37,847 shares during the last quarter. Royal Bank of Canada increased its position in shares of Ero Copper by 123.7% during the first quarter. Royal Bank of Canada now owns 354,638 shares of the company’s stock worth $9,459,000 after purchasing an additional 196,101 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Ero Copper by 315.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 722,853 shares of the company’s stock valued at $19,241,000 after purchasing an additional 549,038 shares during the last quarter. Maverick Capital Ltd. purchased a new stake in shares of Ero Copper during the 1st quarter valued at $514,000. Finally, Lazard Asset Management LLC boosted its position in shares of Ero Copper by 56.1% in the 1st quarter. Lazard Asset Management LLC now owns 106,684 shares of the company’s stock worth $2,845,000 after purchasing an additional 38,322 shares in the last quarter. Institutional investors 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 lowered Ero Copper from a “buy” rating to a “neutral” rating and reduced their target price for the company from $33.00 to $31.00 in a research report on Tuesday, April 14th. TD Securities restated a “hold” rating on shares of Ero Copper in a report on Friday. Wall Street Zen raised shares of Ero Copper from a “hold” rating to a “buy” rating in a research report on Saturday. Bank of America upgraded shares of Ero Copper from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $30.00 to $34.00 in a research note on Thursday, July 16th. Finally, Scotiabank restated an “outperform” rating on shares of Ero Copper in a research note on Monday, June 15th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, Ero Copper has a consensus rating of “Moderate Buy” and a consensus price target of $32.33.

Ero Copper Stock Performance

Shares of NYSE ERO opened at $34.32 on Friday. The company has a 50 day simple moving average of $27.42 and a two-hundred day simple moving average of $28.67. The stock has a market cap of $3.58 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 0.27 and a beta of 1.21. The company has a current ratio of 1.30, a quick ratio of 0.81 and a debt-to-equity ratio of 0.50. Ero Copper Corp. has a 12 month low of $13.37 and a 12 month high of $39.80.

Ero Copper (NYSE:ERO) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. Ero Copper had a net margin of 29.79% and a return on equity of 30.32%. The firm had revenue of $284.30 million for the quarter, compared to analyst estimates of $277.64 million. As a group, analysts predict that Ero Copper Corp. will post 4.02 earnings per share for the current year.

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.