Russell Investments Group Ltd. Increases Holdings in Ero Copper Corp. (NYSE:ERO)

Russell Investments Group Ltd. increased its position in shares of Ero Copper Corp. (NYSE:ERO - Free Report) by 20.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 494,007 shares of the company's stock after buying an additional 83,952 shares during the period. Russell Investments Group Ltd. owned 0.48% of Ero Copper worth $6,659,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pinpoint Asset Management Ltd raised its holdings in Ero Copper by 75.4% in the 4th quarter. Pinpoint Asset Management Ltd now owns 74,323 shares of the company's stock valued at $1,002,000 after acquiring an additional 31,951 shares during the period. Geode Capital Management LLC grew its position in shares of Ero Copper by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 48,667 shares of the company's stock valued at $662,000 after purchasing an additional 1,727 shares during the last quarter. National Bank of Canada FI increased its stake in shares of Ero Copper by 15.4% during the fourth quarter. National Bank of Canada FI now owns 76,373 shares of the company's stock worth $1,031,000 after purchasing an additional 10,190 shares during the period. Franklin Resources Inc. lifted its holdings in Ero Copper by 38.3% during the 4th quarter. Franklin Resources Inc. now owns 308,073 shares of the company's stock worth $4,148,000 after purchasing an additional 85,273 shares during the last quarter. Finally, Banco BTG Pactual S.A. bought a new stake in Ero Copper in the 4th quarter valued at $1,616,000. 71.30% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Raymond James restated an "outperform" rating on shares of Ero Copper in a research note on Friday, April 4th. TD Securities upgraded shares of Ero Copper from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 12th. Desjardins started coverage on Ero Copper in a research note on Friday, April 4th. They issued a "hold" rating for the company. BMO Capital Markets began coverage on Ero Copper in a research report on Wednesday. They set an "outperform" rating on the stock. Finally, TD Cowen raised Ero Copper from a "hold" rating to a "buy" rating in a 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $26.33.

Ero Copper Stock Performance

Shares of NYSE ERO traded down $0.01 during midday trading on Friday, reaching $10.93. The company's stock had a trading volume of 265,307 shares, compared to its average volume of 399,066. The stock has a market capitalization of $1.13 billion, a P/E ratio of 64.26 and a beta of 1.10. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.68 and a quick ratio of 0.45. The firm has a 50 day moving average price of $12.24 and a 200-day moving average price of $14.61. Ero Copper Corp. has a 12-month low of $9.30 and a 12-month high of $24.34.

Ero Copper (NYSE:ERO - Get Free Report) last posted its quarterly earnings results on Thursday, March 6th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.04). The company had revenue of $122.50 million for the quarter, compared to the consensus estimate of $183.26 million. Ero Copper had a net margin of 3.67% and a return on equity of 11.30%. As a group, equities analysts predict that Ero Copper Corp. will post 0.71 earnings per share for the current year.

Ero Copper 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.