GMT Capital Corp Has $83.94 Million Stock Position in Ero Copper Corp. $ERO

Key Points

• GMT Capital Corp increased its stake in Ero Copper Corp. by 22.9% in Q1, owning 6,931,025 shares, making it the 8th largest holding for the institution.
• A majority of Ero Copper’s stock, 71.30%, is held by institutional investors and hedge funds, reflecting strong interest in the company.
• Brokerage ratings for Ero Copper vary, with analysts assigning a consensus rating of "Moderate Buy" and a target price of $23.50.

GMT Capital Corp lifted its stake in shares of Ero Copper Corp. (NYSE:ERO - Free Report) by 22.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,931,025 shares of the company's stock after purchasing an additional 1,292,100 shares during the quarter. Ero Copper comprises about 4.5% of GMT Capital Corp's investment portfolio, making the stock its 8th largest position. GMT Capital Corp owned approximately 6.69% of Ero Copper worth $83,938,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in ERO. Acuitas Investments LLC acquired a new stake in Ero Copper in the 1st quarter valued at about $39,000. State of Wyoming purchased a new position in Ero Copper in the 4th quarter valued at about $76,000. Northwest & Ethical Investments L.P. lifted its holdings 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 purchasing an additional 1,483 shares in the last quarter. Deutsche Bank AG lifted its holdings 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 purchasing an additional 3,990 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in Ero Copper in the 4th quarter valued at about $146,000. 71.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on ERO shares. National Bankshares restated a "sector perform" rating on shares of Ero Copper in a report on Tuesday, August 5th. BMO Capital Markets reissued an "outperform" rating on shares of Ero Copper in a research report on Friday, July 4th. TD Securities reissued a "buy" rating on shares of Ero Copper in a research report on Wednesday, May 7th. Stifel Canada raised shares of Ero Copper to a "strong-buy" rating in a research report on Tuesday, July 8th. Finally, Raymond James Financial raised shares of Ero Copper to a "moderate buy" rating in a research report on Monday, June 30th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Ero Copper currently has an average rating of "Moderate Buy" and a consensus price target of $19.00.

Ero Copper Stock Performance

Shares of ERO traded up $0.08 during midday trading on Wednesday, hitting $14.89. 578,759 shares of the stock traded hands, compared to its average volume of 572,090. Ero Copper Corp. has a 1-year low of $9.30 and a 1-year high of $23.40. The firm has a market capitalization of $1.54 billion, a PE ratio of 10.87 and a beta of 1.16. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.80 and a current ratio of 1.05. The business's 50 day moving average price is $14.64 and its two-hundred day moving average price is $13.63.

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