Bank of America Corp DE Buys 130,524 Shares of Ero Copper Corp. (NYSE:ERO)

Bank of America Corp DE grew its position in Ero Copper Corp. (NYSE:ERO - Free Report) by 46.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 412,925 shares of the company's stock after buying an additional 130,524 shares during the quarter. Bank of America Corp DE owned approximately 0.40% of Ero Copper worth $5,566,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. BNP Paribas Financial Markets acquired a new position in shares of Ero Copper in the fourth quarter worth about $146,000. 683 Capital Management LLC boosted its stake in shares of Ero Copper by 20.4% during the 4th quarter. 683 Capital Management LLC now owns 2,468,367 shares of the company's stock valued at $33,272,000 after buying an additional 418,367 shares during the period. Kapitalo Investimentos Ltda boosted its stake in shares of Ero Copper by 12.9% during the 4th quarter. Kapitalo Investimentos Ltda now owns 578,767 shares of the company's stock valued at $7,802,000 after buying an additional 65,997 shares during the period. PDT Partners LLC boosted its stake in shares of Ero Copper by 50.9% during the 4th quarter. PDT Partners LLC now owns 106,028 shares of the company's stock valued at $1,429,000 after buying an additional 35,767 shares during the period. Finally, Decade Renewable Partners LP boosted its stake in shares of Ero Copper by 35.2% during the 4th quarter. Decade Renewable Partners LP now owns 446,600 shares of the company's stock valued at $6,018,000 after buying an additional 116,200 shares during the period. 71.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ERO. Wall Street Zen raised shares of Ero Copper from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 24th. National Bank Financial raised shares of Ero Copper from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. National Bankshares raised shares of Ero Copper from a "sector perform" rating to an "outperform" rating in a research note on Tuesday, May 6th. Desjardins began coverage on shares of Ero Copper in a research note on Friday, April 4th. They issued a "hold" rating for the company. Finally, TD Cowen upgraded shares of Ero Copper from a "hold" rating to a "buy" rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $26.33.

Ero Copper Stock Down 0.7%

Shares of Ero Copper stock traded down $0.10 during midday trading on Friday, reaching $14.14. 512,980 shares of the company's stock traded hands, compared to its average volume of 399,766. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 83.18 and a beta of 1.10. Ero Copper Corp. has a 52 week low of $9.30 and a 52 week high of $23.40. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.45 and a current ratio of 0.68. The company's 50 day simple moving average is $12.38 and its 200 day simple moving average is $13.30.

Ero Copper (NYSE:ERO - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.17 by $0.18. The firm had revenue of $125.10 million for the quarter, compared to the consensus estimate of $179.45 million. Ero Copper had a net margin of 3.67% and a return on equity of 11.30%. Equities analysts expect that Ero Copper Corp. will post 0.71 earnings per share 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.