PDT Partners LLC Sells 82,011 Shares of Ero Copper Corp. $ERO

Key Points

• PDT Partners LLC significantly reduced its holdings in Ero Copper Corp. by 77.3% in the first quarter, now owning 24,017 shares valued at $291,000 after selling 82,011 shares.
• Despite PDT Partners' sell-off, other institutional investors increased their stakes, with notable boosts from J. Safra Sarasin Holding AG and Northwest & Ethical Investments L.P..
• Analysts provide mixed ratings on Ero Copper, with one firm upgrading it to a "strong-buy" while others have issued lower ratings, resulting in an average rating of "Moderate Buy".

PDT Partners LLC trimmed its position in shares of Ero Copper Corp. (NYSE:ERO - Free Report) by 77.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,017 shares of the company's stock after selling 82,011 shares during the quarter. PDT Partners LLC's holdings in Ero Copper were worth $291,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Maverick Capital Ltd. bought a new position in shares of Ero Copper during the first quarter worth $806,000. Royal Bank of Canada boosted its position in shares of Ero Copper by 2.3% during the first quarter. Royal Bank of Canada now owns 188,384 shares of the company's stock worth $2,283,000 after purchasing an additional 4,325 shares in the last quarter. Decade Renewable Partners LP boosted its position in shares of Ero Copper by 61.6% during the first quarter. Decade Renewable Partners LP now owns 721,700 shares of the company's stock worth $8,743,000 after purchasing an additional 275,100 shares in the last quarter. GMT Capital Corp boosted its position in shares of Ero Copper by 22.9% during the first quarter. GMT Capital Corp now owns 6,931,025 shares of the company's stock worth $83,938,000 after purchasing an additional 1,292,100 shares in the last quarter. Finally, Samalin Investment Counsel LLC boosted its position in shares of Ero Copper by 10.3% during the first quarter. Samalin Investment Counsel LLC now owns 34,227 shares of the company's stock worth $415,000 after purchasing an additional 3,210 shares in the last quarter. 71.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

ERO has been the topic of a number of recent analyst reports. National Bank Financial cut shares of Ero Copper from an "outperform" rating to a "sector perform" rating in a research report on Wednesday, July 9th. Scotiabank reaffirmed an "outperform" rating on shares of Ero Copper in a research report on Tuesday, July 8th. BMO Capital Markets reiterated an "outperform" rating on shares of Ero Copper in a research note on Friday, July 4th. Wall Street Zen lowered shares of Ero Copper from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Stifel Nicolaus started coverage on shares of Ero Copper in a research note on Wednesday, July 9th. They issued a "buy" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $19.00.

Ero Copper Stock Performance

Shares of Ero Copper stock traded up $0.66 during trading on Thursday, hitting $16.92. 714,194 shares of the stock were exchanged, compared to its average volume of 629,972. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of 12.35 and a beta of 1.16. The company has a fifty day moving average price of $14.45 and a 200-day moving average price of $13.72. Ero Copper Corp. has a 1-year low of $9.30 and a 1-year high of $23.40. 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 Thursday, July 31st. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.13. The company had revenue of $163.50 million for the quarter, compared to analyst estimates of $263.23 million. Ero Copper had a net margin of 26.63% and a return on equity of 17.96%. As a group, equities analysts predict that Ero Copper Corp. will post 0.71 EPS for the current fiscal year.

Ero Copper 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.