Nikko Asset Management Americas Inc. Buys New Stake in Ero Copper Corp. (NYSE:ERO)

Key Points

• Nikko Asset Management Americas Inc. has acquired a new position in Ero Copper Corp., purchasing 21,000 shares valued at approximately $255,000.
• Institutional investors currently own 71.30% of Ero Copper's stock, with notable increases in holdings from firms such as Invesco and Bridgewater Associates.
• Ero Copper has received various ratings from analysts, with an average rating of "Moderate Buy" and a consensus price target of $23.50.

Nikko Asset Management Americas Inc. acquired a new stake in Ero Copper Corp. (NYSE:ERO - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 21,000 shares of the company's stock, valued at approximately $255,000.

Other institutional investors also recently bought and sold shares of the company. Invesco Ltd. grew its stake in Ero Copper by 22.6% in the 4th quarter. Invesco Ltd. now owns 3,890,977 shares of the company's stock valued at $52,450,000 after acquiring an additional 715,999 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Ero Copper by 5.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,527,158 shares of the company's stock valued at $47,529,000 after acquiring an additional 176,637 shares in the last quarter. 683 Capital Management LLC grew its position in shares of Ero Copper by 20.4% during the fourth quarter. 683 Capital Management LLC now owns 2,468,367 shares of the company's stock worth $33,272,000 after buying an additional 418,367 shares in the last quarter. Frontier Capital Management Co. LLC lifted its stake in Ero Copper by 14.8% during the fourth quarter. Frontier Capital Management Co. LLC now owns 956,880 shares of the company's stock worth $12,899,000 after purchasing an additional 123,289 shares during the last quarter. Finally, Bridgewater Associates LP lifted its stake in Ero Copper by 400.2% during the fourth quarter. Bridgewater Associates LP now owns 818,269 shares of the company's stock worth $11,026,000 after purchasing an additional 654,684 shares during the last quarter. 71.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ERO has been the subject of several analyst reports. Raymond James Financial upgraded Ero Copper to a "moderate buy" rating in a research note on Monday, June 30th. Scotiabank reaffirmed an "outperform" rating on shares of Ero Copper in a research report on Tuesday, July 8th. National Bank Financial lowered Ero Copper from an "outperform" rating to a "sector perform" rating in a research report on Wednesday, July 9th. Desjardins started coverage on Ero Copper in a research note on Friday, April 4th. They set a "hold" rating on the stock. Finally, National Bankshares lowered Ero Copper from an "outperform" rating to a "sector perform" rating in a research report on Tuesday, July 8th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Ero Copper has an average rating of "Moderate Buy" and an average price target of $23.50.

Ero Copper Stock Down 1.8%

ERO stock traded down $0.24 during mid-day trading on Wednesday, reaching $13.45. 237,199 shares of the company traded hands, compared to its average volume of 559,099. 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 stock has a market cap of $1.39 billion, a price-to-earnings ratio of 78.98 and a beta of 1.18. The firm's 50 day moving average price is $15.21 and its 200 day moving average price is $13.61. Ero Copper Corp. has a fifty-two week low of $9.30 and a fifty-two week high of $23.40.

Ero Copper (NYSE:ERO - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.17 by $0.18. The company had revenue of $125.10 million during the quarter, compared to analyst estimates of $179.45 million. Ero Copper had a net margin of 3.87% and a return on equity of 14.24%. As a group, equities research analysts predict that Ero Copper Corp. will post 0.71 EPS for the current fiscal year.

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.