The Manufacturers Life Insurance Company Trims Stock Holdings in Ero Copper Corp. (NYSE:ERO)

The Manufacturers Life Insurance Company reduced its position in shares of Ero Copper Corp. (NYSE:ERO) by 7.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 308,947 shares of the company’s stock after selling 23,826 shares during the period. The Manufacturers Life Insurance Company owned 0.30% of Ero Copper worth $6,595,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ERO. Toronto Dominion Bank lifted its stake 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 valued at $54,000 after buying an additional 709 shares during the period. National Bank of Canada FI lifted its stake in shares of Ero Copper by 1.4% in the 2nd quarter. National Bank of Canada FI now owns 58,271 shares of the company’s stock valued at $1,238,000 after purchasing an additional 793 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Ero Copper by 6.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,933 shares of the company’s stock worth $469,000 after purchasing an additional 1,277 shares during the period. Platinum Investment Management Ltd. increased its position in Ero Copper by 15.9% during the 1st quarter. Platinum Investment Management Ltd. now owns 18,738 shares of the company’s stock worth $362,000 after purchasing an additional 2,564 shares in the last quarter. Finally, CIBC Asset Management Inc raised its holdings in Ero Copper by 3.2% in the fourth quarter. CIBC Asset Management Inc now owns 90,121 shares of the company’s stock valued at $1,429,000 after buying an additional 2,772 shares during the period. 71.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ERO. Ventum Cap Mkts upgraded shares of Ero Copper from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 22nd. StockNews.com lowered Ero Copper from a “hold” rating to a “sell” rating in a research report on Friday, July 19th. Jefferies Financial Group upgraded Ero Copper from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. Raymond James upgraded Ero Copper from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 3rd. Finally, BMO Capital Markets raised Ero Copper from a “market perform” rating to an “outperform” rating in a research report on Wednesday, June 26th. One analyst has rated the stock with a sell rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

Ero Copper Trading Up 1.1 %

NYSE:ERO opened at $21.87 on Friday. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of 33.65 and a beta of 1.20. Ero Copper Corp. has a one year low of $11.35 and a one year high of $24.34. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 0.82. The business’s 50-day simple moving average is $20.28 and its 200 day simple moving average is $20.65.

Ero Copper (NYSE:ERO) last announced its earnings results on Thursday, August 1st. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The company had revenue of $117.10 million for the quarter. Ero Copper had a positive return on equity of 9.89% and a negative net margin of 4.79%. During the same period in the previous year, the company earned $0.24 earnings per share. As a group, sell-side analysts predict that Ero Copper Corp. will post 1.68 earnings per share for the current fiscal year.

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.