Goldman Sachs Group Inc. Has $3.34 Million Holdings in Ero Copper Corp. $ERO

Key Points

• Goldman Sachs Group Inc. increased its stake in Ero Copper Corp. by 82%, now holding 275,598 shares valued at approximately $3.34 million.
• Institutional investors collectively own 71.30% of Ero Copper, with other notable increases in stakes from firms like Sprott Inc. and TD Asset Management Inc..
• Ero Copper reported $0.46 earnings per share for the latest quarter, surpassing analysts' expectations of $0.33, despite a revenue shortfall against estimates.

Goldman Sachs Group Inc. grew its holdings in shares of Ero Copper Corp. (NYSE:ERO - Free Report) by 82.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 275,598 shares of the company's stock after purchasing an additional 124,179 shares during the period. Goldman Sachs Group Inc. owned about 0.27% of Ero Copper worth $3,340,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Acuitas Investments LLC bought a new stake in shares of Ero Copper in the first quarter valued at approximately $39,000. State of Wyoming acquired a new position in Ero Copper in the 4th quarter valued at $76,000. Northwest & Ethical Investments L.P. lifted its position in shares of Ero Copper by 22.6% during the 1st quarter. Northwest & Ethical Investments L.P. now owns 8,033 shares of the company's stock valued at $97,000 after acquiring an additional 1,483 shares during the period. Deutsche Bank AG lifted its position 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 during the period. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Ero Copper during the 4th quarter worth $146,000. 71.30% of the stock is owned by institutional investors.

Ero Copper Trading Up 2.5%

NYSE:ERO traded up $0.42 during mid-day trading on Monday, hitting $17.39. 666,820 shares of the company's stock were exchanged, compared to its average volume of 746,688. The company has a current ratio of 1.05, a quick ratio of 0.80 and a debt-to-equity ratio of 0.83. Ero Copper Corp. has a fifty-two week low of $9.30 and a fifty-two week high of $23.40. The firm has a market capitalization of $1.80 billion, a P/E ratio of 12.69 and a beta of 1.16. The company has a 50 day simple moving average of $14.67 and a 200-day simple moving average of $13.98.

Ero Copper (NYSE:ERO - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.46 earnings per share 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 net margin of 26.63% and a return on equity of 17.96%. As a group, research analysts expect that Ero Copper Corp. will post 0.71 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Wall Street Zen raised Ero Copper from a "hold" rating to a "buy" rating in a research note on Saturday. BMO Capital Markets restated an "outperform" rating on shares of Ero Copper in a research report on Friday, July 4th. Scotiabank reiterated an "outperform" rating on shares of Ero Copper in a research report on Tuesday, July 8th. National Bank Financial downgraded shares of Ero Copper from an "outperform" rating to a "sector perform" rating in a research report on Wednesday, July 9th. Finally, Raymond James Financial raised Ero Copper to a "moderate buy" rating in a report on Monday, June 30th. 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 stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.00.

Ero Copper 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.