Ninepoint Partners LP Invests $1.03 Million in Ero Copper Corp. (NYSE:ERO)

Ninepoint Partners LP purchased a new stake in Ero Copper Corp. (NYSE:ERO - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 85,000 shares of the company's stock, valued at approximately $1,030,000. Ninepoint Partners LP owned 0.08% of Ero Copper at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Acuitas Investments LLC purchased a new stake in shares of Ero Copper during the 1st quarter worth about $39,000. State of Wyoming acquired a new position in Ero Copper during the 4th quarter worth $76,000. TD Waterhouse Canada Inc. raised its position in shares of Ero Copper by 128.4% during the 4th quarter. TD Waterhouse Canada Inc. now owns 10,672 shares of the company's stock valued at $143,000 after acquiring an additional 6,000 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of Ero Copper by 59.5% in the 4th quarter. Deutsche Bank AG now owns 10,700 shares of the company's stock worth $144,000 after purchasing an additional 3,990 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new position in Ero Copper in the 4th quarter worth about $146,000. Hedge funds and other institutional investors own 71.30% of the company's stock.

Ero Copper Price Performance

ERO stock traded down $0.41 during trading on Friday, hitting $14.14. The company had a trading volume of 1,141,604 shares, compared to its average volume of 826,212. The company has a fifty day moving average price of $15.20 and a two-hundred day moving average price of $13.61. Ero Copper Corp. has a fifty-two week low of $9.30 and a fifty-two week high of $23.40. The company has a market cap of $1.47 billion, a P/E ratio of 83.20 and a beta of 1.18. The company has a current ratio of 1.05, a quick ratio of 0.80 and a debt-to-equity ratio of 0.83.

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

Analysts Set New Price Targets

Several research firms recently weighed in on ERO. National Bankshares downgraded shares of Ero Copper from an "outperform" rating to a "sector perform" rating in a report on Tuesday, July 8th. Scotiabank reaffirmed an "outperform" rating on shares of Ero Copper in a research report on Tuesday, July 8th. Wall Street Zen lowered Ero Copper from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. TD Securities restated a "buy" rating on shares of Ero Copper in a report on Wednesday, May 7th. Finally, National Bank Financial lowered shares of Ero Copper from an "outperform" rating to a "sector perform" rating in a research note on Wednesday, July 9th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Ero Copper currently has a consensus rating of "Moderate Buy" and a consensus target price of $23.50.

About Ero Copper

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.