Ero Copper Corp. $ERO is Impala Asset Management LLC's 2nd Largest Position

Key Points

• Impala Asset Management LLC decreased its stake in Ero Copper Corp. by 5.1% after selling 89,164 shares, bringing its total ownership to 1,649,901 shares, which constitutes approximately 13.1% of its investment portfolio.
• Several hedge funds have made significant investments in Ero Copper, with GMT Capital Corp increasing its position by 22.9% and TD Asset Management boosting holdings by 234.1% in the first quarter.
• Ero Copper reported a quarterly earnings of $0.46 per share, exceeding estimates, but revenue of $163.5 million fell short of the $263.23 million consensus estimate.

Impala Asset Management LLC cut its stake in Ero Copper Corp. (NYSE:ERO - Free Report) by 5.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,649,901 shares of the company's stock after selling 89,164 shares during the quarter. Ero Copper makes up approximately 13.1% of Impala Asset Management LLC's portfolio, making the stock its 2nd largest holding. Impala Asset Management LLC owned approximately 1.59% of Ero Copper worth $20,180,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on ERO. National Bankshares restated a "sector perform" rating on shares of Ero Copper in a report on Tuesday, August 5th. Scotiabank reaffirmed an "outperform" rating on shares of Ero Copper in a research note on Tuesday, July 8th. Stifel Canada raised shares of Ero Copper to a "strong-buy" rating in a research note on Tuesday, July 8th. BMO Capital Markets restated an "outperform" rating on shares of Ero Copper in a report on Friday, July 4th. Finally, National Bank Financial cut Ero Copper from an "outperform" rating to a "sector perform" rating in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Ero Copper has a consensus rating of "Moderate Buy" and an average price target of $19.00.

Ero Copper Stock Up 0.8%

Ero Copper stock traded up $0.13 during trading on Monday, reaching $17.04. The stock had a trading volume of 418,074 shares, compared to its average volume of 582,433. The company has a quick ratio of 0.80, a current ratio of 1.05 and a debt-to-equity ratio of 0.83. Ero Copper Corp. has a 52-week low of $9.30 and a 52-week high of $23.40. The stock has a market cap of $1.77 billion, a PE ratio of 12.43 and a beta of 1.16. The business has a 50 day moving average price of $14.45 and a 200 day moving average price of $13.77.

Ero Copper (NYSE:ERO - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.46 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.13. Ero Copper had a net margin of 26.63% and a return on equity of 17.96%. The company had revenue of $163.50 million for the quarter, compared to the consensus estimate of $263.23 million. On average, analysts predict that Ero Copper Corp. will post 0.71 EPS for the current 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.