683 Capital Management LLC Has $21.81 Million Stake in Ero Copper Corp. $ERO

Key Points

• 683 Capital Management LLC has reduced its holdings in Ero Copper Corp. by 27.1%, now owning approximately 1.8 million shares valued at about $21.81 million.
• The stock has a consensus rating of "Moderate Buy" from analysts, with an average price target of $23.50.
• Ero Copper reported an earnings per share (EPS) of $0.46, surpassing estimates of $0.33, although it fell short on revenue against expectations.

683 Capital Management LLC trimmed its holdings in shares of Ero Copper Corp. (NYSE:ERO - Free Report) by 27.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,800,480 shares of the company's stock after selling 667,887 shares during the period. Ero Copper accounts for approximately 1.5% of 683 Capital Management LLC's holdings, making the stock its 11th largest holding. 683 Capital Management LLC owned approximately 1.74% of Ero Copper worth $21,813,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Acuitas Investments LLC acquired a new stake in Ero Copper during the 1st quarter valued at $39,000. State of Wyoming bought a new position in Ero Copper in the 4th quarter valued at $76,000. Northwest & Ethical Investments L.P. boosted its position in Ero Copper by 22.6% in the 1st quarter. Northwest & Ethical Investments L.P. now owns 8,033 shares of the company's stock valued at $97,000 after buying an additional 1,483 shares during the last quarter. Deutsche Bank AG boosted its position in Ero Copper by 59.5% in the 4th quarter. Deutsche Bank AG now owns 10,700 shares of the company's stock valued at $144,000 after buying an additional 3,990 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new position in Ero Copper in the 4th quarter valued at $146,000. 71.30% of the stock is owned by institutional investors and hedge funds.

Ero Copper Trading Up 1.9%

NYSE ERO traded up $0.29 on Friday, reaching $14.97. The company had a trading volume of 688,749 shares, compared to its average volume of 543,982. The stock's 50 day moving average is $14.53 and its 200-day moving average is $13.65. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 10.92 and a beta of 1.16. The company has a quick ratio of 0.80, a current ratio of 1.05 and a debt-to-equity ratio of 0.83. Ero Copper Corp. has a 52 week low of $9.30 and a 52 week high of $23.40.

Ero Copper (NYSE:ERO - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.46 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.13. The business had revenue of $163.50 million during the quarter, compared to the consensus estimate of $263.23 million. Ero Copper had a return on equity of 17.96% and a net margin of 26.63%. Equities analysts predict that Ero Copper Corp. will post 0.71 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. National Bank Financial lowered Ero Copper from an "outperform" rating to a "sector perform" rating in a research report on Wednesday, July 9th. Stifel Nicolaus assumed coverage on Ero Copper in a research report on Wednesday, July 9th. They issued a "buy" rating on the stock. Stifel Canada upgraded Ero Copper to a "strong-buy" rating in a research report on Tuesday, July 8th. Raymond James Financial raised Ero Copper to a "moderate buy" rating in a research note on Monday, June 30th. Finally, Wall Street Zen downgraded Ero Copper from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $19.00.

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.