Ninepoint Partners LP Acquires Shares of 85,000 Ero Copper Corp. (NYSE:ERO)

Ninepoint Partners LP acquired a new position in Ero Copper Corp. (NYSE:ERO - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 85,000 shares of the company's stock, valued at approximately $1,030,000. Ninepoint Partners LP owned about 0.08% of Ero Copper as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ERO. Acuitas Investments LLC purchased a new position in Ero Copper in the first quarter worth $39,000. State of Wyoming acquired a new stake in shares of Ero Copper in the 4th quarter worth $76,000. TD Waterhouse Canada Inc. increased its position in 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 buying an additional 6,000 shares in the last quarter. Deutsche Bank AG raised its stake in Ero Copper by 59.5% in the fourth quarter. Deutsche Bank AG now owns 10,700 shares of the company's stock valued at $144,000 after buying an additional 3,990 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in Ero Copper in the fourth quarter valued at about $146,000. Institutional investors own 71.30% of the company's stock.

Ero Copper Stock Performance

Shares of NYSE ERO traded down $0.41 during trading on Friday, reaching $14.14. 1,141,604 shares of the company traded hands, compared to its average volume of 826,212. The stock has a market cap of $1.47 billion, a P/E ratio of 15.00 and a beta of 1.18. Ero Copper Corp. has a 12-month low of $9.30 and a 12-month high of $23.40. The firm's fifty day simple moving average is $15.18 and its 200 day simple moving average is $13.62. 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 released its quarterly earnings data on Monday, May 5th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.17 by $0.18. The business had revenue of $125.10 million for the quarter, compared to analyst estimates of $179.45 million. Ero Copper had a return on equity of 14.24% and a net margin of 3.87%. As a group, research analysts anticipate that Ero Copper Corp. will post 0.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ERO. Wall Street Zen lowered Ero Copper from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. National Bank Financial downgraded shares of Ero Copper from an "outperform" rating to a "sector perform" rating in a research report on Wednesday, July 9th. Stifel Nicolaus started coverage on shares of Ero Copper in a research note on Wednesday, July 9th. They set a "buy" rating on the stock. Scotiabank reiterated an "outperform" rating on shares of Ero Copper in a research note on Tuesday, July 8th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Ero Copper in a report on Friday, July 4th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Ero Copper currently has a consensus rating of "Moderate Buy" and an average target price of $23.50.

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.