Sprott Inc. Boosts Stake in Ero Copper Corp. $ERO

Key Points

• Sprott Inc. significantly increased its stake in Ero Copper Corp. by 64.3%, holding approximately 748,185 shares valued at $9.07 million as of the latest SEC filing.
• Ero Copper reported a quarterly earnings per share of $0.46, exceeding analysts' expectations of $0.33, but its revenue fell short of estimates at $163.5 million.
• Analyst ratings for Ero Copper show a consensus of "Moderate Buy," with one analyst giving a Strong Buy rating and a target price of $23.50.

Sprott Inc. lifted its position in shares of Ero Copper Corp. (NYSE:ERO - Free Report) by 64.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 748,185 shares of the company's stock after acquiring an additional 292,896 shares during the quarter. Sprott Inc. owned 0.72% of Ero Copper worth $9,068,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Acuitas Investments LLC purchased a new stake in shares of Ero Copper during the 1st quarter worth about $39,000. State of Wyoming purchased a new stake in shares of Ero Copper during the 4th quarter worth about $76,000. Northwest & Ethical Investments L.P. boosted its stake in shares of Ero Copper by 22.6% during the 1st quarter. Northwest & Ethical Investments L.P. now owns 8,033 shares of the company's stock worth $97,000 after acquiring an additional 1,483 shares in the last quarter. TD Waterhouse Canada Inc. boosted its stake in shares of Ero Copper by 128.4% during the 4th quarter. TD Waterhouse Canada Inc. now owns 10,672 shares of the company's stock worth $143,000 after acquiring an additional 6,000 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake in shares of Ero Copper by 59.5% during the 4th quarter. Deutsche Bank AG now owns 10,700 shares of the company's stock worth $144,000 after acquiring an additional 3,990 shares in the last quarter. 71.30% of the stock is owned by hedge funds and other institutional investors.

Ero Copper Trading Down 1.1%

Shares of Ero Copper stock traded down $0.17 during mid-day trading on Wednesday, hitting $14.41. The stock had a trading volume of 234,947 shares, compared to its average volume of 558,381. The firm has a 50-day moving average of $14.76 and a two-hundred day moving average of $13.61. Ero Copper Corp. has a 12-month low of $9.30 and a 12-month high of $23.40. The company has a quick ratio of 0.80, a current ratio of 1.05 and a debt-to-equity ratio of 0.83. The firm has a market cap of $1.49 billion, a P/E ratio of 10.52 and a beta of 1.16.

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

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. 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. Scotiabank restated an "outperform" rating on shares of Ero Copper in a research report on Tuesday, July 8th. Stifel Nicolaus assumed coverage on shares of Ero Copper in a research report on Wednesday, July 9th. They set a "buy" rating for the company. National Bankshares restated a "sector perform" rating on shares of Ero Copper in a research report on Tuesday, August 5th. Finally, Raymond James Financial upgraded shares of Ero Copper to a "moderate buy" rating in a research report on Monday, June 30th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus 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.