Invesco Ltd. Sells 409,357 Shares of Ero Copper Corp. $ERO

Key Points

• Invesco Ltd. has reduced its stake in Ero Copper Corp. by 10.5%, selling 409,357 shares and now holds approximately 3.36% of the company's shares worth $42.2 million.
• Ero Copper's stock is currently valued at $13.79, showing a market capitalization of $1.43 billion, with a PE ratio of 10.07 and a 52-week trading range of $9.30 to $23.40.
• Recent earnings reveal Ero Copper reported $0.46 EPS for the last quarter, surpassing estimates, but its revenue fell short of expectations at $163.5 million compared to a forecast of $263.23 million.

Invesco Ltd. lessened its position in shares of Ero Copper Corp. (NYSE:ERO - Free Report) by 10.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,481,620 shares of the company's stock after selling 409,357 shares during the period. Invesco Ltd. owned approximately 3.36% of Ero Copper worth $42,197,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. bought a new position in Ero Copper in the 1st quarter valued at approximately $255,000. Wincap Financial LLC lifted its stake in Ero Copper by 29.4% in the 1st quarter. Wincap Financial LLC now owns 96,510 shares of the company's stock valued at $1,170,000 after purchasing an additional 21,948 shares during the last quarter. Bank of America Corp DE lifted its stake in Ero Copper by 46.2% in the 4th quarter. Bank of America Corp DE now owns 412,925 shares of the company's stock valued at $5,566,000 after purchasing an additional 130,524 shares during the last quarter. TD Asset Management Inc lifted its stake in Ero Copper by 234.1% in the 1st quarter. TD Asset Management Inc now owns 935,090 shares of the company's stock valued at $11,324,000 after purchasing an additional 655,232 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Ero Copper in the 4th quarter valued at approximately $991,000. Institutional investors own 71.30% of the company's stock.

Wall Street Analysts Forecast Growth

ERO has been the subject of several research reports. Wall Street Zen downgraded shares of Ero Copper from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. BMO Capital Markets reissued an "outperform" rating on shares of Ero Copper in a research note on Friday, July 4th. Stifel Canada upgraded shares of Ero Copper to a "strong-buy" rating in a report on Tuesday, July 8th. Stifel Nicolaus initiated coverage on shares of Ero Copper in a research note on Wednesday, July 9th. They issued a "buy" rating on the stock. Finally, National Bankshares restated a "sector perform" rating on shares of Ero Copper in a report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $23.50.

Ero Copper Trading Up 2.7%

NYSE ERO traded up $0.3750 on Friday, reaching $14.3850. The company had a trading volume of 403,688 shares, compared to its average volume of 621,612. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 10.50 and a beta of 1.16. Ero Copper Corp. has a fifty-two week low of $9.30 and a fifty-two week high of $23.40. The business has a 50 day moving average of $14.81 and a two-hundred day moving average of $13.59. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.05 and a quick ratio of 0.80.

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

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.