Amundi Acquires 37,847 Shares of Ero Copper Corp. $ERO

Key Points

• Amundi increased its Ero Copper position by 7.9% in the first quarter, acquiring 37,847 additional shares for a total of 519,497 shares valued at approximately $13.9 million. Institutional investors collectively own 71.3% of the company.
• Analyst sentiment is generally positive, with Ero Copper holding a “Moderate Buy” consensus rating and an average price target of $32.33. Bank of America upgraded the stock to “buy,” while Goldman Sachs downgraded it to “neutral.”
• Ero Copper recently beat quarterly earnings expectations, reporting $0.69 in EPS versus the $0.56 consensus and revenue of $263.2 million versus $245.5 million expected. Shares opened at $29.07, while the stock has traded between $13.37 and $39.80 over the past year.

Amundi grew its holdings in Ero Copper Corp. (NYSE:ERO - Free Report) by 7.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 519,497 shares of the company's stock after acquiring an additional 37,847 shares during the period. Amundi owned about 0.50% of Ero Copper worth $13,855,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd bought a new stake in Ero Copper in the 4th quarter valued at $38,000. Kestra Advisory Services LLC purchased a new position in shares of Ero Copper in the fourth quarter valued at $56,000. Banque Cantonale Vaudoise purchased a new position in shares of Ero Copper in the third quarter valued at $111,000. SG Americas Securities LLC purchased a new stake in Ero Copper during the fourth quarter valued at $115,000. Finally, Shay Capital LLC bought a new position in Ero Copper during the third quarter valued at $202,000. Institutional investors own 71.30% of the company's stock.

Analyst Upgrades and Downgrades

ERO has been the topic of a number of research reports. Bank of America upgraded shares of Ero Copper from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $30.00 to $34.00 in a report on Thursday, July 16th. The Goldman Sachs Group downgraded shares of Ero Copper from a "buy" rating to a "neutral" rating and lowered their price target for the company from $33.00 to $31.00 in a report on Tuesday, April 14th. Weiss Ratings reissued a "hold (c+)" rating on shares of Ero Copper in a research note on Thursday, June 4th. Bradesco Corretora upgraded Ero Copper to an "outperform" rating in a research report on Monday, July 20th. Finally, Scotiabank restated an "outperform" rating on shares of Ero Copper in a research report on Monday, June 15th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Ero Copper presently has an average rating of "Moderate Buy" and a consensus target price of $32.33.

Ero Copper Stock Up 6.2%

Shares of NYSE ERO opened at $29.07 on Wednesday. Ero Copper Corp. has a 1 year low of $13.37 and a 1 year high of $39.80. The firm has a 50-day simple moving average of $27.27 and a two-hundred day simple moving average of $28.61. The company has a market cap of $3.03 billion, a P/E ratio of 10.35, a PEG ratio of 0.22 and a beta of 1.21. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 0.81.

Ero Copper (NYSE:ERO - Get Free Report) last released its earnings results on Monday, May 4th. The company reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.56 by $0.13. Ero Copper had a return on equity of 27.33% and a net margin of 31.63%.The firm had revenue of $263.20 million for the quarter, compared to analysts' expectations of $245.51 million. Research analysts anticipate that Ero Copper Corp. will post 4.02 earnings per share for the current year.

About Ero Copper

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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