Ero Copper Corp. (NYSE:ERO) Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. grew its holdings in shares of Ero Copper Corp. (NYSE:ERO) by 38.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 308,073 shares of the company’s stock after buying an additional 85,273 shares during the period. Franklin Resources Inc. owned 0.30% of Ero Copper worth $4,148,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Toronto Dominion Bank grew its position in Ero Copper by 2,172.6% in the 3rd quarter. Toronto Dominion Bank now owns 57,702 shares of the company’s stock valued at $1,285,000 after buying an additional 55,163 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Ero Copper in the 4th quarter worth approximately $991,000. Jennison Associates LLC boosted its holdings in shares of Ero Copper by 3.5% in the fourth quarter. Jennison Associates LLC now owns 5,909,627 shares of the company’s stock valued at $79,645,000 after acquiring an additional 198,800 shares in the last quarter. Canoe Financial LP acquired a new position in shares of Ero Copper during the fourth quarter valued at approximately $456,000. Finally, Montrusco Bolton Investments Inc. increased its stake in shares of Ero Copper by 3.9% during the fourth quarter. Montrusco Bolton Investments Inc. now owns 775,356 shares of the company’s stock valued at $10,448,000 after acquiring an additional 28,999 shares during the period. 71.30% of the stock is currently owned by institutional investors and hedge funds.

Ero Copper Trading Up 5.4 %

Shares of NYSE ERO opened at $10.46 on Friday. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 0.71. Ero Copper Corp. has a 12 month low of $9.30 and a 12 month high of $24.34. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 61.54 and a beta of 1.10. The business has a fifty day simple moving average of $12.50 and a 200-day simple moving average of $14.96.

Ero Copper (NYSE:ERO) last posted its quarterly earnings data on Thursday, March 6th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.04). Ero Copper had a net margin of 3.67% and a return on equity of 11.30%. The firm had revenue of $122.50 million for the quarter, compared to analysts’ expectations of $183.26 million. Sell-side analysts predict that Ero Copper Corp. will post 0.71 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ERO shares. TD Cowen upgraded Ero Copper from a “hold” rating to a “buy” rating in a research report on Wednesday, February 12th. Desjardins began coverage on Ero Copper in a report on Friday, April 4th. They issued a “hold” rating for the company. Raymond James reaffirmed an “outperform” rating on shares of Ero Copper in a report on Friday, April 4th. Finally, TD Securities upgraded shares of Ero Copper from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $26.33.

Ero Copper Company Profile

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.