T. Rowe Price Investment Management Inc. Lowers Stake in Ero Copper Corp. (NYSE:ERO)

T. Rowe Price Investment Management Inc. decreased its position in Ero Copper Corp. (NYSE:ERO - Free Report) by 89.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 604,109 shares of the company's stock after selling 5,097,241 shares during the quarter. T. Rowe Price Investment Management Inc. owned 0.58% of Ero Copper worth $8,144,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Jennison Associates LLC raised its holdings in shares of Ero Copper by 3.5% in the 4th quarter. Jennison Associates LLC now owns 5,909,627 shares of the company's stock valued at $79,645,000 after buying an additional 198,800 shares during the period. Invesco Ltd. grew its position in Ero Copper by 22.6% in the 4th quarter. Invesco Ltd. now owns 3,890,977 shares of the company's stock valued at $52,450,000 after acquiring an additional 715,999 shares in the last quarter. Boston Partners lifted its position 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 purchasing an additional 441,413 shares in the last quarter. Bridgewater Associates LP lifted its position 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 purchasing an additional 654,684 shares in the last quarter. Finally, Montrusco Bolton Investments Inc. boosted its stake in shares of Ero Copper by 3.9% in the fourth quarter. Montrusco Bolton Investments Inc. now owns 775,356 shares of the company's stock valued at $10,448,000 after purchasing an additional 28,999 shares during the period. 71.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ERO has been the topic of a number of research reports. BMO Capital Markets initiated coverage on shares of Ero Copper in a report on Wednesday, April 16th. They set an "outperform" rating on the stock. Raymond James reiterated an "outperform" rating on shares of Ero Copper in a report on Friday, April 4th. TD Securities upgraded Ero Copper from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 12th. TD Cowen upgraded Ero Copper from a "hold" rating to a "buy" rating in a research note on Wednesday, February 12th. Finally, Desjardins started coverage on Ero Copper in a research report on Friday, April 4th. They set a "hold" rating for the company. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $26.33.

Ero Copper Stock Down 0.2 %

Shares of NYSE ERO opened at $12.63 on Monday. Ero Copper Corp. has a 1 year low of $9.30 and a 1 year high of $24.34. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 74.29 and a beta of 1.10. 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 business has a 50-day moving average of $12.01 and a two-hundred day moving average of $14.19.

Ero Copper (NYSE:ERO - Get Free Report) last announced its quarterly earnings results on Thursday, March 6th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.21 by ($0.04). Ero Copper had a net margin of 3.67% and a return on equity of 11.30%. The business had revenue of $122.50 million during the quarter, compared to analyst estimates of $183.26 million. On average, analysts forecast that Ero Copper Corp. will post 0.71 earnings per share for the current fiscal year.

About Ero Copper

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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