Amundi Purchases 38,923 Shares of Ero Copper Corp. $ERO

Key Points

• Amundi increased its holdings in Ero Copper Corp. by 6.7% during the first quarter, owning approximately 0.60% of the company valued at $6.95 million.
• Several institutional investors have also increased their stakes in Ero Copper, bringing the total institutional ownership to 71.30%.
• Ero Copper reported earnings of $0.46 per share for the last quarter, beating estimates, with revenue of $163.5 million compared to expectations of $263.23 million.

Amundi raised its stake in Ero Copper Corp. (NYSE:ERO - Free Report) by 6.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 617,803 shares of the company's stock after acquiring an additional 38,923 shares during the quarter. Amundi owned about 0.60% of Ero Copper worth $6,950,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ERO. GMT Capital Corp increased its position in Ero Copper by 22.9% in the 1st quarter. GMT Capital Corp now owns 6,931,025 shares of the company's stock valued at $83,938,000 after acquiring an additional 1,292,100 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Ero Copper during the 1st quarter worth approximately $8,994,000. TD Asset Management Inc grew its position in shares of Ero Copper by 234.1% during the 1st quarter. TD Asset Management Inc now owns 935,090 shares of the company's stock worth $11,324,000 after buying an additional 655,232 shares during the period. Sprott Inc. grew its position in shares of Ero Copper by 64.3% during the 1st quarter. Sprott Inc. now owns 748,185 shares of the company's stock worth $9,068,000 after buying an additional 292,896 shares during the period. Finally, Decade Renewable Partners LP grew its position in shares of Ero Copper by 61.6% during the 1st quarter. Decade Renewable Partners LP now owns 721,700 shares of the company's stock worth $8,743,000 after buying an additional 275,100 shares during the period. Institutional investors and hedge funds own 71.30% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. National Bank Financial cut shares of Ero Copper from an "outperform" rating to a "sector perform" rating in a research report on Wednesday, July 9th. Stifel Nicolaus assumed coverage on shares of Ero Copper in a research report on Wednesday, July 9th. They set a "buy" rating for the company. Scotiabank reiterated 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 note on Tuesday, August 5th. Finally, Stifel Canada raised shares of Ero Copper to a "strong-buy" rating in a research note on Tuesday, July 8th. One equities research 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, Ero Copper currently has a consensus rating of "Moderate Buy" and an average target price of $19.00.

Ero Copper Stock Down 0.6%

ERO traded down $0.11 during trading on Tuesday, reaching $16.99. 880,700 shares of the stock were exchanged, compared to its average volume of 687,565. The stock has a market cap of $1.76 billion, a P/E ratio of 12.40 and a beta of 1.16. Ero Copper Corp. has a twelve month low of $9.30 and a twelve month high of $23.40. The stock's 50 day moving average price is $14.49 and its two-hundred day moving average price is $13.83. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.80 and a current ratio of 1.05.

Ero Copper (NYSE:ERO - Get Free Report) last issued 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. The business had revenue of $163.50 million for 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%. Equities analysts expect that Ero Copper Corp. will post 0.71 EPS for the current year.

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.