Ero Copper Corp. $ERO Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. reduced its stake in Ero Copper Corp. by 42.9%, owning approximately $3.42 million worth of shares after selling 211,949 shares in the first quarter.
• Ero Copper's recent earnings report showed an EPS of $0.46, exceeding analysts' expectations of $0.33, with a net margin of 26.63%.
• Market analysts have mixed ratings on Ero Copper, with one downgrading the stock to "hold" while another raised it to "strong buy"; the average rating remains a "Moderate Buy" with a target price of $23.50.

Russell Investments Group Ltd. lessened its position in Ero Copper Corp. (NYSE:ERO - Free Report) by 42.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 282,058 shares of the company's stock after selling 211,949 shares during the quarter. Russell Investments Group Ltd. owned about 0.27% of Ero Copper worth $3,419,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ERO. Acuitas Investments LLC purchased a new position in shares of Ero Copper in the first quarter valued at approximately $39,000. State of Wyoming purchased a new position in shares of Ero Copper in the fourth quarter valued at approximately $76,000. TD Waterhouse Canada Inc. lifted its position in shares of Ero Copper by 128.4% in the fourth 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 position in Ero Copper by 59.5% during the fourth quarter. Deutsche Bank AG now owns 10,700 shares of the company's stock worth $144,000 after buying an additional 3,990 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in Ero Copper during the fourth quarter worth approximately $146,000. Hedge funds and other institutional investors own 71.30% of the company's stock.

Ero Copper Trading Up 2.4%

Shares of NYSE ERO traded up $0.34 during trading on Friday, reaching $14.37. The stock had a trading volume of 723,768 shares, compared to its average volume of 566,417. 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 debt-to-equity ratio of 0.83, a quick ratio of 0.80 and a current ratio of 1.05. The business's 50-day moving average price is $14.69 and its 200-day moving average price is $13.62. The company has a market cap of $1.49 billion, a P/E ratio of 10.49 and a beta of 1.16.

Ero Copper (NYSE:ERO - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.46 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.13. Ero Copper had a return on equity of 17.96% and a net margin of 26.63%.The business had revenue of $163.50 million during the quarter, compared to analysts' expectations of $263.23 million. On average, equities research analysts predict that Ero Copper Corp. will post 0.71 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on ERO. BMO Capital Markets reiterated an "outperform" rating on shares of Ero Copper in a research report on Friday, July 4th. Wall Street Zen downgraded Ero Copper from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. National Bankshares reiterated a "sector perform" rating on shares of Ero Copper in a research report on Tuesday, August 5th. Scotiabank reiterated an "outperform" rating on shares of Ero Copper in a research report on Tuesday, July 8th. Finally, TD Securities reiterated a "buy" rating on shares of Ero Copper in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $23.50.

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.