Montrusco Bolton Investments Inc. Lowers Stock Position in Ero Copper Corp. $ERO

Key Points

• Montrusco Bolton Investments Inc. reduced its stake in Ero Copper Corp. by 1.9%, holding 767,142 shares worth approximately $12.93 million as of the latest SEC filing.
• Several hedge funds, including GMT Capital Corp. and TD Asset Management Inc., increased their positions significantly in Ero Copper during Q1, indicating growing institutional interest.
• Ero Copper reported an earnings per share (EPS) of $0.46 for the last quarter, exceeding analyst expectations, though its revenue was below forecast at $163.5 million.

Montrusco Bolton Investments Inc. cut its holdings in shares of Ero Copper Corp. (NYSE:ERO - Free Report) by 1.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 767,142 shares of the company's stock after selling 14,790 shares during the period. Montrusco Bolton Investments Inc. owned 0.74% of Ero Copper worth $12,931,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. GMT Capital Corp grew 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 acquiring an additional 1,292,100 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Ero Copper by 2.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,607,517 shares of the company's stock worth $43,689,000 after acquiring an additional 80,359 shares during the last quarter. TD Asset Management Inc increased 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 buying an additional 655,232 shares during the period. Sprott Inc. raised its position in Ero Copper by 64.3% during the 1st quarter. Sprott Inc. now owns 748,185 shares of the company's stock worth $9,068,000 after buying an additional 292,896 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Ero Copper in the 1st quarter worth $8,994,000. 71.30% of the stock is currently owned by hedge funds and other institutional investors.

Ero Copper Price Performance

Shares of NYSE ERO opened at $21.37 on Monday. The firm has a market capitalization of $2.21 billion, a P/E ratio of 15.60 and a beta of 1.24. Ero Copper Corp. has a one year low of $9.30 and a one year high of $24.02. The company's fifty day moving average is $16.46 and its two-hundred day moving average is $14.71. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.80 and a current ratio of 1.05.

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

Wall Street Analyst Weigh In

ERO has been the topic of several analyst reports. Stifel Canada raised shares of Ero Copper to a "strong-buy" rating in a report on Tuesday, July 8th. Raymond James Financial reaffirmed an "outperform" rating on shares of Ero Copper in a report on Friday. BMO Capital Markets reaffirmed an "outperform" rating on shares of Ero Copper in a report on Friday, July 4th. Zacks Research raised shares of Ero Copper from a "hold" rating to a "strong-buy" rating in a report on Tuesday, September 30th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Ero Copper in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.