Maverick Capital Ltd. Makes New $806,000 Investment in Ero Copper Corp. $ERO

Key Points

• Maverick Capital Ltd. has invested approximately $806,000 in Ero Copper Corp., acquiring 66,510 shares during the first quarter, which represents about 0.06% of the company's stock.
• Ero Copper reported earnings of $0.46 per share for the last quarter, surpassing expectations, but its revenue of $163.50 million fell short of analyst estimates.
• Analysts are generally optimistic about Ero Copper, with the stock currently rated as a "Moderate Buy" and an average price target of $23.50.

Maverick Capital Ltd. bought a new stake in Ero Copper Corp. (NYSE:ERO - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 66,510 shares of the company's stock, valued at approximately $806,000. Maverick Capital Ltd. owned approximately 0.06% of Ero Copper as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Acuitas Investments LLC purchased a new stake in shares of Ero Copper in the first quarter valued at about $39,000. State of Wyoming purchased a new stake in shares of Ero Copper during the 4th quarter valued at approximately $76,000. Northwest & Ethical Investments L.P. lifted its holdings in Ero Copper by 22.6% in the first quarter. Northwest & Ethical Investments L.P. now owns 8,033 shares of the company's stock valued at $97,000 after acquiring an additional 1,483 shares during the last quarter. Deutsche Bank AG grew its position in Ero Copper by 59.5% in the fourth quarter. Deutsche Bank AG now owns 10,700 shares of the company's stock worth $144,000 after acquiring an additional 3,990 shares during the period. Finally, BNP Paribas Financial Markets purchased a new stake in Ero Copper in the fourth quarter valued at $146,000. Hedge funds and other institutional investors own 71.30% of the company's stock.

Ero Copper Stock Up 1.9%

ERO stock traded up $0.29 during midday trading on Friday, hitting $14.97. The company's stock had a trading volume of 688,749 shares, compared to its average volume of 543,982. The company has a quick ratio of 0.80, a current ratio of 1.05 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $1.55 billion, a P/E ratio of 10.92 and a beta of 1.16. The firm has a 50-day simple moving average of $14.53 and a 200-day simple moving average of $13.65. Ero Copper Corp. has a 52-week low of $9.30 and a 52-week high of $23.40.

Ero Copper (NYSE:ERO - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.13. The firm had revenue of $163.50 million for 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%. As a group, equities analysts forecast that Ero Copper Corp. will post 0.71 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. BMO Capital Markets reiterated an "outperform" rating on shares of Ero Copper in a report on Friday, July 4th. Stifel Canada raised shares of Ero Copper to a "strong-buy" rating in a research note on Tuesday, July 8th. 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 upgraded shares of Ero Copper to a "moderate buy" rating in a report on Monday, June 30th. Finally, National Bankshares restated a "sector perform" rating on shares of Ero Copper in a research note on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $19.00.

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.