Boston Partners Reduces Stock Holdings in Ero Copper Corp. $ERO

Key Points

• Boston Partners has reduced its stake in Ero Copper Corp. by 41.3% in the first quarter, bringing its ownership down to 646,560 shares, valued at approximately $7.8 million.
• Several hedge funds have adjusted their positions in Ero Copper, with TD Asset Management Inc. increasing its holdings by 234.1% in the first quarter, owning over 935,000 shares now.
• Ero Copper reported earnings of $0.46 per share, surpassing analysts' estimates of $0.33, with a return on equity of 17.96% and a net margin of 26.63%.

Boston Partners lowered its position in shares of Ero Copper Corp. (NYSE:ERO - Free Report) by 41.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 646,560 shares of the company's stock after selling 454,705 shares during the period. Boston Partners owned 0.62% of Ero Copper worth $7,835,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in ERO. Acuitas Investments LLC acquired a new stake in Ero Copper during the first quarter worth approximately $39,000. State of Wyoming acquired a new stake in shares of Ero Copper in the 4th quarter valued at $76,000. TD Waterhouse Canada Inc. boosted its holdings in shares of Ero Copper by 128.4% during the 4th quarter. TD Waterhouse Canada Inc. now owns 10,672 shares of the company's stock valued at $143,000 after acquiring an additional 6,000 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of Ero Copper by 59.5% during the 4th quarter. Deutsche Bank AG now owns 10,700 shares of the company's stock valued at $144,000 after acquiring an additional 3,990 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Ero Copper during the 4th quarter valued at $146,000. Institutional investors own 71.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ERO shares. Raymond James Financial raised Ero Copper to a "moderate buy" rating in a report on Monday, June 30th. Scotiabank reissued an "outperform" rating on shares of Ero Copper in a research report on Tuesday, July 8th. National Bankshares reissued a "sector perform" rating on shares of Ero Copper in a research report on Tuesday, August 5th. National Bank Financial lowered Ero Copper from an "outperform" rating to a "sector perform" rating in a research report on Wednesday, July 9th. Finally, Stifel Nicolaus started coverage on Ero Copper in a research report on Wednesday, July 9th. They issued a "buy" rating for the company. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Ero Copper presently has a consensus rating of "Moderate Buy" and a consensus target price of $23.50.

Ero Copper Stock Performance

Shares of NYSE ERO traded down $0.0080 during midday trading on Wednesday, reaching $13.5520. The company's stock had a trading volume of 169,995 shares, compared to its average volume of 564,081. Ero Copper Corp. has a 12-month low of $9.30 and a 12-month high of $23.40. The firm has a 50 day moving average price of $14.89 and a 200-day moving average price of $13.58. The stock has a market capitalization of $1.40 billion, a P/E ratio of 9.88 and a beta of 1.16. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.05 and a quick ratio of 0.80.

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

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.