Oakmont Investment Advisors Inc. Invests $1.65 Million in Ero Copper Corp. $ERO

Key Points

• Oakmont Investment Advisors acquired 61,509 shares of Ero Copper valued at approximately $1.65 million, making the stock 1.2% of its portfolio. Institutional investors collectively own 71.3% of the company.
• Analyst sentiment is mixed: Ero Copper has an overall consensus rating of “Hold” and an average price target of $32.33, despite Scotiabank maintaining an “outperform” rating.
• Ero Copper recently exceeded quarterly expectations, reporting $0.83 EPS versus the $0.74 estimate and revenue of $284.3 million versus $277.64 million expected. Shares opened at $34.82, while the company reported a 1-year trading range of $14.89 to $40.83.

Oakmont Investment Advisors Inc. acquired a new position in shares of Ero Copper Corp. (NYSE:ERO - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 61,509 shares of the company's stock, valued at approximately $1,645,000. Ero Copper comprises 1.2% of Oakmont Investment Advisors Inc.'s investment portfolio, making the stock its 22nd biggest position. Oakmont Investment Advisors Inc. owned 0.06% of Ero Copper at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of Ero Copper during the 4th quarter valued at about $38,000. PenderFund Capital Management Ltd. bought a new stake in shares of Ero Copper in the 2nd quarter worth approximately $39,000. Kestra Advisory Services LLC bought a new stake in shares of Ero Copper in the 4th quarter worth approximately $56,000. Banque Cantonale Vaudoise acquired a new position in Ero Copper during the 3rd quarter valued at approximately $111,000. Finally, Barclays PLC grew its stake in Ero Copper by 1,243.1% during the 4th quarter. Barclays PLC now owns 7,508 shares of the company's stock worth $212,000 after buying an additional 6,949 shares during the last quarter. 71.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Scotiabank reaffirmed an "outperform" rating on shares of Ero Copper in a research report on Monday, June 15th. TD Securities restated a "hold" rating on shares of Ero Copper in a research report on Friday, August 7th. Wall Street Zen cut shares of Ero Copper from a "buy" rating to a "hold" rating in a report on Saturday, August 29th. Freedom Broker downgraded shares of Ero Copper from a "strong-buy" rating to a "hold" rating in a research report on Thursday. Finally, Bradesco Corretora downgraded shares of Ero Copper from an "outperform" rating to a "neutral" rating in a research report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $32.33.

Ero Copper Stock Down 1.4%

Shares of Ero Copper stock opened at $34.82 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 0.81. Ero Copper Corp. has a 1-year low of $14.89 and a 1-year high of $40.83. The business's fifty day moving average price is $30.48 and its two-hundred day moving average price is $29.18. The company has a market capitalization of $3.63 billion, a P/E ratio of 11.68, a PEG ratio of 0.28 and a beta of 1.27.

Ero Copper (NYSE:ERO - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.09. The company had revenue of $284.30 million during the quarter, compared to analysts' expectations of $277.64 million. Ero Copper had a return on equity of 30.32% and a net margin of 29.79%. As a group, research analysts forecast that Ero Copper Corp. will post 3.98 EPS for the current year.

About Ero Copper

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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