Pinpoint Asset Management Ltd Sells 22,319 Shares of Ero Copper Corp. (NYSE:ERO)

Key Points

• Pinpoint Asset Management Ltd reduced its stake in Ero Copper Corp. by 30.0% in the first quarter, owning approximately 0.05% of the company after selling 22,319 shares.
• Several institutional investors, including TD Asset Management Inc, significantly increased their holdings in Ero Copper, with TD growing its stake by 234.1% in the first quarter.
• Ero Copper reported an EPS of $0.46 for the last quarter, exceeding analysts' expectations of $0.33, despite lower revenues of $163.50 million compared to the expected $263.23 million.

Pinpoint Asset Management Ltd lowered its holdings in Ero Copper Corp. (NYSE:ERO - Free Report) by 30.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 52,004 shares of the company's stock after selling 22,319 shares during the quarter. Pinpoint Asset Management Ltd owned about 0.05% of Ero Copper worth $630,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its stake in Ero Copper by 20.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 58,295 shares of the company's stock worth $706,000 after purchasing an additional 9,810 shares in the last quarter. Scotia Capital Inc. lifted its stake in shares of Ero Copper by 2.9% during the first quarter. Scotia Capital Inc. now owns 269,862 shares of the company's stock valued at $3,236,000 after acquiring an additional 7,531 shares during the period. J. Safra Sarasin Holding AG lifted its stake in shares of Ero Copper by 3.2% during the first quarter. J. Safra Sarasin Holding AG now owns 24,266 shares of the company's stock valued at $294,000 after acquiring an additional 753 shares during the period. Alberta Investment Management Corp lifted its stake in shares of Ero Copper by 29.0% during the first quarter. Alberta Investment Management Corp now owns 67,700 shares of the company's stock valued at $820,000 after acquiring an additional 15,200 shares during the period. Finally, Letko Brosseau & Associates Inc. acquired a new position in shares of Ero Copper during the first quarter valued at $176,000. Institutional investors and hedge funds own 71.30% of the company's stock.

Ero Copper Stock Up 1.3%

Shares of NYSE ERO traded up $0.18 during mid-day trading on Friday, reaching $13.95. 517,685 shares of the company's stock were exchanged, compared to its average volume of 819,030. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 10.18 and a beta of 1.16. The company has a current ratio of 1.05, a quick ratio of 0.80 and a debt-to-equity ratio of 0.83. The business has a fifty day simple moving average of $15.13 and a 200 day simple moving average of $13.58. Ero Copper Corp. has a twelve month low of $9.30 and a twelve month high of $23.40.

Ero Copper (NYSE:ERO - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.46 EPS for the quarter, topping analysts' consensus estimates 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 return on equity of 17.96% and a net margin of 26.63%. As a group, equities analysts expect that Ero Copper Corp. will post 0.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. National Bank Financial lowered Ero Copper from an "outperform" rating to a "sector perform" rating in a research note on Wednesday, July 9th. Stifel Canada raised Ero Copper to a "strong-buy" rating in a research note on Tuesday, July 8th. National Bankshares reaffirmed a "sector perform" rating on shares of Ero Copper in a research note on Tuesday. Wall Street Zen lowered Ero Copper from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Ero Copper in a research note on Friday, July 4th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.