Itau Unibanco Holding S.A. Makes New $611,000 Investment in Ero Copper Corp. (NYSE:ERO)

Itau Unibanco Holding S.A. purchased a new position in shares of Ero Copper Corp. (NYSE:ERO) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 27,430 shares of the company’s stock, valued at approximately $611,000.

Several other institutional investors have also recently added to or reduced their stakes in ERO. Jennison Associates LLC lifted its holdings in Ero Copper by 4.3% in the third quarter. Jennison Associates LLC now owns 5,710,827 shares of the company’s stock valued at $127,149,000 after acquiring an additional 237,345 shares during the period. FMR LLC boosted its position in Ero Copper by 1.8% in the 3rd quarter. FMR LLC now owns 11,869,851 shares of the company’s stock valued at $264,262,000 after buying an additional 206,405 shares during the last quarter. Mirabella Financial Services LLP lifted its holdings in Ero Copper by 608.2% during the 3rd quarter. Mirabella Financial Services LLP now owns 143,252 shares of the company’s stock worth $3,189,000 after buying an additional 123,023 shares during the last quarter. Lighthouse Investment Partners LLC bought a new stake in shares of Ero Copper in the 2nd quarter worth approximately $2,521,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Ero Copper by 32.9% in the second quarter. Dimensional Fund Advisors LP now owns 464,047 shares of the company’s stock worth $9,922,000 after purchasing an additional 115,002 shares in the last quarter. Hedge funds and other institutional investors own 71.30% of the company’s stock.

Ero Copper Trading Up 0.1 %

Shares of ERO opened at $15.24 on Tuesday. The company’s fifty day moving average is $18.70 and its 200 day moving average is $19.95. The stock has a market capitalization of $1.57 billion, a PE ratio of 89.65 and a beta of 1.12. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.45 and a current ratio of 0.68. Ero Copper Corp. has a fifty-two week low of $12.59 and a fifty-two week high of $24.34.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ERO. Bank of America began coverage on shares of Ero Copper in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $28.00 price objective on the stock. The Goldman Sachs Group initiated coverage on Ero Copper in a report on Monday. They set a “buy” rating and a $19.00 price objective for the company. StockNews.com raised shares of Ero Copper from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. Jefferies Financial Group raised Ero Copper from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Finally, Raymond James upgraded shares of Ero Copper from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 3rd. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $26.33.

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.