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. decreased its stake in shares of Ero Copper Corp. (NYSE:ERO - Free Report) by 10.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 SEC filing.

Other large investors have also recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of Ero Copper during the 1st quarter valued at about $255,000. Wincap Financial LLC boosted its stake in shares of Ero Copper by 29.4% during 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 in the last quarter. Bank of America Corp DE boosted its stake in shares of Ero Copper by 46.2% during 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 in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Ero Copper during the 4th quarter valued at about $991,000. Finally, TD Asset Management Inc boosted its stake 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 valued at $11,324,000 after purchasing an additional 655,232 shares in the last quarter. Institutional investors own 71.30% of the company's stock.

Ero Copper Stock Down 0.6%

Shares of Ero Copper stock opened at $13.79 on Tuesday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.80 and a current ratio of 1.05. The stock has a market capitalization of $1.43 billion, a PE ratio of 10.07 and a beta of 1.16. Ero Copper Corp. has a 52-week low of $9.30 and a 52-week high of $23.40. The company has a 50-day simple moving average of $14.94 and a two-hundred day simple moving average of $13.58.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. BMO Capital Markets reaffirmed an "outperform" rating on shares of Ero Copper in a research note on Friday, July 4th. 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. Raymond James Financial raised shares of Ero Copper to a "moderate buy" rating in a research report on Monday, June 30th. Stifel Canada raised shares of Ero Copper to a "strong-buy" rating in a research report on Tuesday, July 8th. Finally, TD Securities reissued a "buy" rating on shares of Ero Copper in a research report on Wednesday, May 7th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $23.50.

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.

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