Tidal Investments LLC cut its holdings in shares of Ero Copper Corp. (NYSE:ERO - Free Report) by 34.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,889 shares of the company's stock after selling 17,668 shares during the quarter. Tidal Investments LLC's holdings in Ero Copper were worth $457,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in ERO. Invesco Ltd. raised its stake in shares of Ero Copper by 22.6% during the fourth quarter. Invesco Ltd. now owns 3,890,977 shares of the company's stock worth $52,450,000 after acquiring an additional 715,999 shares in the last quarter. Bridgewater Associates LP raised its stake in shares of Ero Copper by 400.2% during the fourth quarter. Bridgewater Associates LP now owns 818,269 shares of the company's stock worth $11,026,000 after acquiring an additional 654,684 shares in the last quarter. Boston Partners raised its stake in shares of Ero Copper by 66.9% during the fourth quarter. Boston Partners now owns 1,101,265 shares of the company's stock worth $14,850,000 after acquiring an additional 441,413 shares in the last quarter. 683 Capital Management LLC raised its stake in shares of Ero Copper by 20.4% during the fourth quarter. 683 Capital Management LLC now owns 2,468,367 shares of the company's stock worth $33,272,000 after acquiring an additional 418,367 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of Ero Copper during the fourth quarter worth approximately $3,509,000. 71.30% of the stock is owned by hedge funds and other institutional investors.
Ero Copper Trading Up 0.9%
Ero Copper stock traded up $0.13 during mid-day trading on Tuesday, reaching $14.65. 357,337 shares of the company traded hands, compared to its average volume of 399,229. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.68 and a quick ratio of 0.45. The firm's 50 day moving average price is $12.43 and its 200 day moving average price is $13.30. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 86.16 and a beta of 1.10. Ero Copper Corp. has a 52-week low of $9.30 and a 52-week high of $23.40.
Ero Copper (NYSE:ERO - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.17 by $0.18. The business had revenue of $125.10 million for the quarter, compared to the consensus estimate of $179.45 million. Ero Copper had a net margin of 3.67% and a return on equity of 11.30%. On average, analysts anticipate that Ero Copper Corp. will post 0.71 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of equities research analysts recently commented on the stock. Wall Street Zen upgraded shares of Ero Copper from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 24th. BMO Capital Markets assumed coverage on shares of Ero Copper in a report on Wednesday, April 16th. They set an "outperform" rating for the company. Raymond James reiterated an "outperform" rating on shares of Ero Copper in a report on Friday, April 4th. Desjardins assumed coverage on shares of Ero Copper in a report on Friday, April 4th. They set a "hold" rating for the company. Finally, National Bank Financial upgraded shares of Ero Copper from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 6th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Ero Copper has a consensus rating of "Buy" and an average target price of $26.33.
Get Our Latest Stock Analysis on Ero Copper
Ero Copper Profile
(
Free Report)
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.
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