Decade Renewable Partners LP Has $8.74 Million Position in Ero Copper Corp. $ERO

Key Points

• Decade Renewable Partners LP increased its holding in Ero Copper Corp. by 61.6%, owning approximately 721,700 shares after acquiring an additional 275,100 shares.
• Several research analysts have given Ero Copper varying ratings, with BMO Capital Markets reissuing an "outperform" rating and a consensus price target of $23.50.
• Ero Copper reported $0.46 earnings per share in its latest quarterly earnings, exceeding the consensus estimate of $0.33, despite revenues falling below expectations at $163.50 million.

Decade Renewable Partners LP boosted its holdings in Ero Copper Corp. (NYSE:ERO - Free Report) by 61.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 721,700 shares of the company's stock after buying an additional 275,100 shares during the period. Ero Copper makes up 6.7% of Decade Renewable Partners LP's investment portfolio, making the stock its 4th biggest holding. Decade Renewable Partners LP owned approximately 0.70% of Ero Copper worth $8,743,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Acuitas Investments LLC purchased a new position in shares of Ero Copper during the 1st quarter valued at $39,000. State of Wyoming purchased a new position in shares of Ero Copper during the 4th quarter valued at $76,000. Northwest & Ethical Investments L.P. grew 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 purchasing an additional 1,483 shares in the last quarter. Deutsche Bank AG grew 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 purchasing an additional 3,990 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in shares of Ero Copper during the 4th quarter valued at $146,000. 71.30% of the stock is currently owned by hedge funds and other institutional investors.

Ero Copper Trading Down 1.3%

Ero Copper stock traded down $0.20 during mid-day trading on Thursday, hitting $14.67. The company's stock had a trading volume of 506,841 shares, compared to its average volume of 571,986. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.05 and a quick ratio of 0.80. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 10.70 and a beta of 1.16. The business has a 50 day moving average price of $14.62 and a 200-day moving average price of $13.64. Ero Copper Corp. has a 12 month low of $9.30 and a 12 month high of $23.40.

Ero Copper (NYSE:ERO - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate 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, analysts forecast that Ero Copper Corp. will post 0.71 EPS for the current year.

Analysts Set New Price Targets

ERO has been the subject of a number of recent analyst reports. Stifel Nicolaus initiated coverage on shares of Ero Copper in a research report on Wednesday, July 9th. They set a "buy" rating for the company. Scotiabank restated an "outperform" rating on shares of Ero Copper in a research report on Tuesday, July 8th. Stifel Canada upgraded shares of Ero Copper to a "strong-buy" rating in a research report on Tuesday, July 8th. BMO Capital Markets reiterated an "outperform" rating on shares of Ero Copper in a research report on Friday, July 4th. Finally, Wall Street Zen lowered shares of Ero Copper from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $19.00.

About Ero Copper

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.