Canoe Financial LP Makes New $456,000 Investment in Ero Copper Corp. (NYSE:ERO)

Canoe Financial LP acquired a new position in Ero Copper Corp. (NYSE:EROFree Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 33,871 shares of the company’s stock, valued at approximately $456,000.

A number of other hedge funds have also made changes to their positions in the business. Toronto Dominion Bank increased its holdings in Ero Copper by 38.7% in the 2nd quarter. Toronto Dominion Bank now owns 2,539 shares of the company’s stock valued at $54,000 after purchasing an additional 709 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Ero Copper by 6.7% in 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 during the period. Exchange Traded Concepts LLC acquired a new stake in shares of Ero Copper in the third quarter valued at about $38,000. Pinpoint Asset Management Ltd raised its holdings in shares of Ero Copper by 7.2% during the 3rd quarter. Pinpoint Asset Management Ltd now owns 42,372 shares of the company’s stock valued at $944,000 after buying an additional 2,856 shares during the period. Finally, CIBC Asset Management Inc lifted its position in Ero Copper by 3.3% during the 3rd quarter. CIBC Asset Management Inc now owns 117,832 shares of the company’s stock worth $2,624,000 after acquiring an additional 3,746 shares in the last quarter. Hedge funds and other institutional investors own 71.30% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ERO. StockNews.com raised shares of Ero Copper from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. The Goldman Sachs Group started coverage on shares of Ero Copper in a report on Monday, December 2nd. They set a “buy” rating and a $19.00 price target for the company. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Ero Copper has a consensus rating of “Buy” and a consensus price target of $26.33.

Check Out Our Latest Report on ERO

Ero Copper Stock Performance

Ero Copper stock opened at $14.15 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 0.71. The stock has a 50 day moving average of $14.47 and a 200-day moving average of $18.22. The stock has a market cap of $1.46 billion, a P/E ratio of 83.21 and a beta of 1.15. Ero Copper Corp. has a 52 week low of $12.78 and a 52 week high of $24.34.

About Ero Copper

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Ero Copper (NYSE:ERO)

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