Eschler Asset Management LLP Lowers Stock Holdings in Ero Copper Corp. $ERO

Key Points

• Eschler Asset Management LLP cut its stake in Ero Copper by 81.5% in Q3, selling 65,903 shares and leaving it with 15,007 shares valued at about $304,000.
• Several large institutions boosted positions—GMT Capital, Invesco, Bank of America and notably Vanguard (up 1,614%, adding ~1.35M shares)—and institutional investors now own about 71.3% of the stock.
• Ero Copper (NYSE: ERO) has a market cap of ~$2.84B and P/E of 10.73; it reported Q results with EPS $1.04 (miss by $0.02) and revenue $320.2M (well below estimates), and carries a consensus "Moderate Buy" rating with a $32.50 target.

Eschler Asset Management LLP reduced its holdings in Ero Copper Corp. (NYSE:ERO - Free Report) by 81.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,007 shares of the company's stock after selling 65,903 shares during the quarter. Eschler Asset Management LLP's holdings in Ero Copper were worth $304,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in ERO. GMT Capital Corp grew its holdings in Ero Copper by 7.7% in the 2nd quarter. GMT Capital Corp now owns 7,467,055 shares of the company's stock valued at $125,865,000 after buying an additional 536,030 shares during the period. Invesco Ltd. increased its stake in shares of Ero Copper by 24.8% during the 3rd quarter. Invesco Ltd. now owns 2,553,915 shares of the company's stock valued at $51,666,000 after acquiring an additional 507,217 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Ero Copper by 82.6% during the 2nd quarter. Bank of America Corp DE now owns 1,775,632 shares of the company's stock worth $29,919,000 after acquiring an additional 803,320 shares during the period. Impala Asset Management LLC lifted its holdings in shares of Ero Copper by 0.5% during the 3rd quarter. Impala Asset Management LLC now owns 1,707,400 shares of the company's stock worth $31,634,000 after acquiring an additional 8,300 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Ero Copper by 1,614.0% in the third quarter. Vanguard Group Inc. now owns 1,434,428 shares of the company's stock worth $29,056,000 after acquiring an additional 1,350,738 shares during the last quarter. 71.30% of the stock is currently owned by hedge funds and other institutional investors.

Ero Copper Trading Down 2.7%

NYSE ERO opened at $27.25 on Friday. The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of 10.73 and a beta of 1.17. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.46 and a current ratio of 0.82. Ero Copper Corp. has a one year low of $9.30 and a one year high of $39.80. The company's 50 day moving average price is $31.30 and its 200 day moving average price is $24.84.

Ero Copper (NYSE:ERO - Get Free Report) last released its quarterly earnings data on Thursday, March 5th. The company reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.02). Ero Copper had a return on equity of 27.09% and a net margin of 33.56%.The business had revenue of $320.20 million for the quarter, compared to analysts' expectations of $430.46 million. On average, sell-side analysts predict that Ero Copper Corp. will post 0.71 EPS for the current year.

Wall Street Analyst Weigh In

ERO has been the subject of a number of recent analyst reports. Weiss Ratings restated a "hold (c)" rating on shares of Ero Copper in a report on Monday, December 29th. Bank of America lowered shares of Ero Copper from a "buy" rating to a "neutral" rating in a report on Monday, February 9th. Zacks Research cut shares of Ero Copper from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 12th. Freedom Capital upgraded Ero Copper to a "strong-buy" rating in a report on Tuesday, December 30th. Finally, Canadian Imperial Bank of Commerce reaffirmed a "neutral" rating on shares of Ero Copper in a research report on Friday, December 5th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Ero Copper has a consensus rating of "Moderate Buy" and a consensus target price of $32.50.

Ero Copper Company Profile

Ero Copper Corp NYSE: ERO is a Canada-based natural resource company focused on the production of copper concentrate from its Brazilian operations. The company’s flagship asset is the Vale do Curaçá mining complex in the state of Bahia, which includes multiple underground mines and a centralized processing facility. Ero Copper’s primary product is copper concentrate, which is sold to smelters and end users around the world.

The Vale do Curaçá complex comprises the Pilar and Surubim underground mines, supported by a fully integrated processing plant.

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