Sprott Inc. Has $9.07 Million Holdings 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. grew its holdings in Ero Copper Corp. (NYSE:ERO - Free Report) by 64.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 748,185 shares of the company's stock after purchasing an additional 292,896 shares during the period. Sprott Inc. owned about 0.72% of Ero Copper worth $9,068,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Ero Copper by 5.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,527,158 shares of the company's stock valued at $47,529,000 after buying an additional 176,637 shares in the last quarter. 683 Capital Management LLC grew its stake in shares of Ero Copper by 20.4% in the fourth quarter. 683 Capital Management LLC now owns 2,468,367 shares of the company's stock valued at $33,272,000 after buying an additional 418,367 shares in the last quarter. Frontier Capital Management Co. LLC grew its stake in shares of Ero Copper by 14.8% in the fourth quarter. Frontier Capital Management Co. LLC now owns 956,880 shares of the company's stock valued at $12,899,000 after buying an additional 123,289 shares in the last quarter. TD Asset Management Inc grew its stake in shares of Ero Copper by 234.1% in the first quarter. TD Asset Management Inc now owns 935,090 shares of the company's stock valued at $11,324,000 after buying an additional 655,232 shares in the last quarter. Finally, Montrusco Bolton Investments Inc. grew its stake in shares of Ero Copper by 0.8% in the first quarter. Montrusco Bolton Investments Inc. now owns 781,932 shares of the company's stock valued at $9,470,000 after buying an additional 6,576 shares in the last quarter. 71.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Stifel Canada raised shares of Ero Copper to a "strong-buy" rating in a research report on Tuesday, July 8th. Raymond James Financial raised shares of Ero Copper to a "moderate buy" rating in a research report on Monday, June 30th. TD Securities reaffirmed a "buy" rating on shares of Ero Copper in a research report on Wednesday, May 7th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Ero Copper in a research report on Friday, July 4th. Finally, 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. One 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 stock. According to data from MarketBeat.com, Ero Copper presently has a consensus rating of "Moderate Buy" and a consensus price target of $23.50.

Ero Copper Stock Performance

Shares of ERO traded up $0.28 during midday trading on Tuesday, reaching $14.57. 345,219 shares of the stock were exchanged, compared to its average volume of 560,369. Ero Copper Corp. has a twelve month low of $9.30 and a twelve 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 company has a market cap of $1.51 billion, a P/E ratio of 10.63 and a beta of 1.16. The stock's 50 day simple moving average is $14.78 and its 200 day simple moving average is $13.60.

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