Sumitomo Mitsui Trust Group Inc. Purchases New Stake in Ero Copper Corp. (NYSE:ERO)

Sumitomo Mitsui Trust Group Inc. purchased a new position in Ero Copper Corp. (NYSE:ERO - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 21,000 shares of the company's stock, valued at approximately $255,000.

Several other hedge funds have also bought and sold shares of ERO. Keybank National Association OH increased its position in shares of Ero Copper by 8.0% during the 4th quarter. Keybank National Association OH now owns 26,120 shares of the company's stock worth $352,000 after purchasing an additional 1,946 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Ero Copper in the 4th quarter valued at about $991,000. Swiss National Bank boosted its stake in shares of Ero Copper by 0.6% in the 4th quarter. Swiss National Bank now owns 194,100 shares of the company's stock valued at $2,616,000 after buying an additional 1,200 shares during the period. Boston Partners boosted its stake in shares of Ero Copper by 66.9% in the 4th quarter. Boston Partners now owns 1,101,265 shares of the company's stock valued at $14,850,000 after buying an additional 441,413 shares during the period. Finally, Northwest & Ethical Investments L.P. boosted its stake in shares of Ero Copper by 19.1% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 6,550 shares of the company's stock valued at $88,000 after buying an additional 1,050 shares during the period. Hedge funds and other institutional investors own 71.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. TD Securities reissued a "buy" rating on shares of Ero Copper in a research report on Wednesday, May 7th. Raymond James Financial raised Ero Copper to a "moderate buy" rating in a report on Monday, June 30th. Stifel Nicolaus initiated coverage on Ero Copper in a research note on Wednesday. They issued a "buy" rating on the stock. National Bank Financial downgraded Ero Copper from an "outperform" rating to a "sector perform" rating in a research note on Wednesday. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Ero Copper in a research report on Friday, July 4th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $26.33.

Ero Copper Stock Performance

Shares of Ero Copper stock traded up $0.46 on Thursday, reaching $14.74. 1,467,012 shares of the company were exchanged, compared to its average volume of 436,136. 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 company's 50-day moving average is $14.90 and its two-hundred day moving average is $13.54. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 86.68 and a beta of 1.18. Ero Copper Corp. has a 1-year low of $9.30 and a 1-year high of $23.40.

Ero Copper (NYSE:ERO - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.18. Ero Copper had a return on equity of 14.24% and a net margin of 3.87%. The business had revenue of $125.10 million during the quarter, compared to analyst estimates of $179.45 million. As a group, research analysts expect that Ero Copper Corp. will post 0.71 earnings per share 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.