Renaissance Group LLC Trims Stock Position in Ero Copper Corp. $ERO

Renaissance Group LLC decreased its position in Ero Copper Corp. (NYSE:ERO) by 12.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 85,850 shares of the company’s stock after selling 12,469 shares during the period. Renaissance Group LLC owned 0.08% of Ero Copper worth $1,447,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. GMT Capital Corp lifted its holdings in shares of Ero Copper by 22.9% in the 1st quarter. GMT Capital Corp now owns 6,931,025 shares of the company’s stock worth $83,938,000 after buying an additional 1,292,100 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Ero Copper by 119.3% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,628,030 shares of the company’s stock valued at $27,515,000 after acquiring an additional 885,630 shares in the last quarter. TD Asset Management Inc lifted its stake in Ero Copper by 234.1% in the first quarter. TD Asset Management Inc now owns 935,090 shares of the company’s stock worth $11,324,000 after acquiring an additional 655,232 shares during the period. Sprott Inc. grew its holdings in Ero Copper by 64.3% during the 1st quarter. Sprott Inc. now owns 748,185 shares of the company’s stock worth $9,068,000 after acquiring an additional 292,896 shares in the last quarter. Finally, Decade Renewable Partners LP increased its position in Ero Copper by 61.6% during the 1st quarter. Decade Renewable Partners LP now owns 721,700 shares of the company’s stock valued at $8,743,000 after purchasing an additional 275,100 shares during the period. 71.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ERO has been the topic of several research reports. Scotiabank raised shares of Ero Copper from a “hold” rating to an “outperform” rating in a report on Thursday, November 6th. Ventum Cap Mkts raised Ero Copper to a “strong-buy” rating in a research report on Monday, November 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Ero Copper in a research report on Wednesday, October 8th. Raymond James Financial reaffirmed an “outperform” rating on shares of Ero Copper in a research report on Friday, October 10th. Finally, Stifel Canada downgraded shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, Ero Copper has a consensus rating of “Hold” and an average target price of $25.00.

Ero Copper Stock Performance

Shares of ERO opened at $21.94 on Thursday. The company has a current ratio of 1.05, a quick ratio of 0.80 and a debt-to-equity ratio of 0.83. The firm has a market cap of $2.27 billion, a PE ratio of 16.02 and a beta of 1.25. Ero Copper Corp. has a 12 month low of $9.30 and a 12 month high of $24.48. The stock has a fifty day moving average price of $20.58 and a 200-day moving average price of $16.72.

Ero Copper (NYSE:ERO) last announced its earnings results on Tuesday, November 4th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.09). Ero Copper had a net margin of 26.63% and a return on equity of 17.96%. The business had revenue of $177.10 million for the quarter, compared to analyst estimates of $309.30 million. Equities research analysts predict 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.