154,077 Shares in Ero Copper Corp. $ERO Acquired by BlackRock Inc.

Key Points

• BlackRock acquired 154,077 shares of Ero Copper in the second quarter, valued at approximately $4.1 million and representing a 0.15% stake. Institutional investors collectively own 71.3% of the company.
• Ero Copper’s latest quarterly results exceeded expectations, with EPS of $0.83 versus the $0.74 consensus estimate and revenue of $284.3 million compared with the $277.6 million forecast.
• Analyst sentiment remains mixed: the stock carries an average “Hold” rating with a $32.33 price target, despite Bank of America upgrading it to “Buy” and other firms issuing downgrades.

BlackRock Inc. bought a new stake in Ero Copper Corp. (NYSE:ERO - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 154,077 shares of the company's stock, valued at approximately $4,122,000. BlackRock Inc. owned 0.15% of Ero Copper as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Royal Bank of Canada raised its stake in shares of Ero Copper by 123.7% in the 1st quarter. Royal Bank of Canada now owns 354,638 shares of the company's stock valued at $9,459,000 after acquiring an additional 196,101 shares during the period. Cape Ann Asset Management Ltd boosted its position in Ero Copper by 13.5% during the 1st quarter. Cape Ann Asset Management Ltd now owns 1,949,128 shares of the company's stock worth $51,983,000 after purchasing an additional 231,485 shares during the period. Temasek Holdings Private Ltd increased its holdings in Ero Copper by 22.3% in the 1st quarter. Temasek Holdings Private Ltd now owns 579,162 shares of the company's stock valued at $15,396,000 after purchasing an additional 105,502 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Ero Copper by 4,913.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 974,932 shares of the company's stock valued at $26,000,000 after purchasing an additional 955,487 shares in the last quarter. Finally, Sei Investments Co. purchased a new position in Ero Copper in the first quarter valued at about $1,017,000. Institutional investors and hedge funds own 71.30% of the company's stock.

Ero Copper Trading Down 1.4%

Shares of ERO opened at $34.82 on Friday. The company has a market capitalization of $3.63 billion, a P/E ratio of 11.68, a P/E/G ratio of 0.28 and a beta of 1.27. Ero Copper Corp. has a one year low of $14.89 and a one year high of $40.83. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.81 and a current ratio of 1.30. The stock has a 50-day moving average price of $30.48 and a 200 day moving average price of $29.18.

Ero Copper (NYSE:ERO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.09. Ero Copper had a return on equity of 30.32% and a net margin of 29.79%.The company had revenue of $284.30 million for the quarter, compared to the consensus estimate of $277.64 million. Sell-side analysts forecast that Ero Copper Corp. will post 3.96 EPS for the current fiscal year.

Analyst Ratings Changes

ERO has been the topic of a number of recent research reports. Weiss Ratings restated a "hold (c+)" rating on shares of Ero Copper in a research note on Tuesday. Zacks Research downgraded Ero Copper from a "hold" rating to a "strong sell" rating in a report on Monday, August 17th. Bradesco Corretora lowered Ero Copper from an "outperform" rating to a "neutral" rating in a research report on Wednesday. Freedom Broker cut Ero Copper from a "strong-buy" rating to a "hold" rating in a report on Thursday. Finally, Bank of America upgraded Ero Copper from a "neutral" rating to a "buy" rating and upped their price target for the stock from $30.00 to $34.00 in a report on Thursday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $32.33.

Ero Copper Company Profile

Ero Copper Corp NYSE: ERO is a Canada-based natural resource company focused on the production of copper concentrate from its Brazilian operations. The company’s flagship asset is the Vale do Curaçá mining complex in the state of Bahia, which includes multiple underground mines and a centralized processing facility. Ero Copper’s primary product is copper concentrate, which is sold to smelters and end users around the world.

The Vale do Curaçá complex comprises the Pilar and Surubim underground mines, supported by a fully integrated processing plant.

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