Cetera Investment Advisers Decreases Stock Holdings in Ero Copper Corp. $ERO

Key Points

• Cetera Investment Advisers cut its Ero Copper stake by 71.3% in the first quarter, selling 69,170 shares and retaining 27,816 shares valued at approximately $739,000. Institutional investors collectively own 71.3% of the company.
• Ero Copper reported quarterly earnings of $0.83 per share, exceeding estimates of $0.74, while revenue of $284.3 million also surpassed expectations. The company posted a 29.79% net margin and 30.32% return on equity.
• ERO shares opened at $33.74, near the upper end of their 52-week range, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $32.33.

Cetera Investment Advisers reduced its stake in shares of Ero Copper Corp. (NYSE:ERO - Free Report) by 71.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,816 shares of the company's stock after selling 69,170 shares during the quarter. Cetera Investment Advisers' holdings in Ero Copper were worth $739,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Ero Copper during the 4th quarter valued at approximately $38,000. Kestra Advisory Services LLC acquired a new stake in shares of Ero Copper in the 4th quarter worth approximately $56,000. Banque Cantonale Vaudoise acquired a new stake in shares of Ero Copper in the 3rd quarter worth approximately $111,000. Barclays PLC increased its stake in Ero Copper by 1,243.1% in the 4th quarter. Barclays PLC now owns 7,508 shares of the company's stock valued at $212,000 after purchasing an additional 6,949 shares in the last quarter. Finally, State of Tennessee Department of Treasury purchased a new position in Ero Copper in the 4th quarter valued at approximately $221,000. 71.30% of the stock is owned by hedge funds and other institutional investors.

Ero Copper Trading Down 0.2%

Shares of Ero Copper stock opened at $33.74 on Monday. Ero Copper Corp. has a 1 year low of $13.37 and a 1 year high of $39.80. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 0.81. The business has a 50 day moving average price of $27.94 and a 200 day moving average price of $28.78. The company has a market capitalization of $3.52 billion, a P/E ratio of 11.32, a P/E/G ratio of 0.27 and a beta of 1.21.

Ero Copper (NYSE:ERO - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.83 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.09. The firm had revenue of $284.30 million for the quarter, compared to analysts' expectations of $277.64 million. Ero Copper had a return on equity of 30.32% and a net margin of 29.79%. Sell-side analysts anticipate that Ero Copper Corp. will post 4.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on ERO shares. Weiss Ratings reiterated a "hold (c+)" rating on shares of Ero Copper in a research report on Thursday, June 4th. Scotiabank reissued an "outperform" rating on shares of Ero Copper in a report on Monday, June 15th. Jefferies Financial Group restated a "hold" rating on shares of Ero Copper in a research report on Monday, July 6th. Wall Street Zen raised Ero Copper from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Finally, National Bank Financial upgraded shares of Ero Copper from a "sector perform" rating to an "outperform" rating in a research report on Tuesday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, Ero Copper currently has an average rating of "Moderate Buy" and an average target price of $32.33.

Ero Copper 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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