Montrusco Bolton Investments Inc. Sells 255,933 Shares of Ero Copper Corp. $ERO

Key Points

• Montrusco Bolton reduced its stake in Ero Copper by 33.4%, selling 255,933 shares and retaining 509,963 shares—about 0.49% of the company valued at $14,446,000 at quarter-end.
• Ero Copper has a market cap of $2.84B and a P/E of 10.74; it missed the latest quarter's estimates (EPS $1.04 vs $1.06 and revenue $320.2M vs $430.46M) and carries a consensus analyst rating of "Hold" with an average target of $31.50.

Montrusco Bolton Investments Inc. decreased its holdings in shares of Ero Copper Corp. (NYSE:ERO - Free Report) by 33.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 509,963 shares of the company's stock after selling 255,933 shares during the period. Montrusco Bolton Investments Inc. owned approximately 0.49% of Ero Copper worth $14,446,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FNY Investment Advisers LLC bought a new stake in shares of Ero Copper during the 4th quarter valued at $25,000. SG Americas Securities LLC bought a new stake in shares of Ero Copper during the 4th quarter valued at $115,000. Banque Cantonale Vaudoise bought a new stake in shares of Ero Copper during the 3rd quarter valued at $111,000. Guidance Capital Inc. bought a new stake in shares of Ero Copper during the 4th quarter valued at $253,000. Finally, Brookstone Capital Management bought a new stake in shares of Ero Copper during the 4th quarter valued at $240,000. Institutional investors own 71.30% of the company's stock.

Ero Copper Price Performance

Shares of NYSE ERO opened at $27.28 on Friday. The firm has a market cap of $2.84 billion, a PE ratio of 10.74 and a beta of 1.29. The company has a current ratio of 0.82, a quick ratio of 0.46 and a debt-to-equity ratio of 0.64. Ero Copper Corp. has a 1-year low of $12.03 and a 1-year high of $39.80. The company has a fifty day moving average price of $28.63 and a 200 day moving average price of $27.09.

Ero Copper (NYSE:ERO - Get Free Report) last announced its earnings results on Thursday, March 5th. The company reported $1.04 earnings per share for the quarter, missing analysts' consensus estimates of $1.06 by ($0.02). The company had revenue of $320.20 million during the quarter, compared to analyst estimates of $430.46 million. Ero Copper had a return on equity of 27.09% and a net margin of 33.56%. Research analysts predict that Ero Copper Corp. will post 4.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. ATB Cormark Capital Markets raised shares of Ero Copper to a "moderate buy" rating in a report on Friday, February 6th. Scotiabank restated an "outperform" rating on shares of Ero Copper in a research report on Monday, January 26th. Freedom Capital upgraded shares of Ero Copper to a "strong-buy" rating in a research report on Tuesday, December 30th. Raymond James Financial cut shares of Ero Copper from a "moderate buy" rating to a "hold" rating in a research report on Monday, February 9th. Finally, Zacks Research lowered shares of Ero Copper from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 12th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $31.50.

Ero Copper Profile

Ero Copper Corp NYSE: ERO is a Canada-based natural resource company focused on the production of copper concentrate from its Brazilian operations. The company’s flagship asset is the Vale do Curaçá mining complex in the state of Bahia, which includes multiple underground mines and a centralized processing facility. Ero Copper’s primary product is copper concentrate, which is sold to smelters and end users around the world.

The Vale do Curaçá complex comprises the Pilar and Surubim underground mines, supported by a fully integrated processing plant.

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