GMT Capital Corp cut its holdings in Ero Copper Corp. (NYSE:ERO – Free Report) by 31.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,472,154 shares of the company’s stock after selling 2,037,300 shares during the period. Ero Copper makes up approximately 6.6% of GMT Capital Corp’s portfolio, making the stock its 3rd biggest position. GMT Capital Corp owned approximately 4.29% of Ero Copper worth $127,044,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the business. Invesco Ltd. raised its position in shares of Ero Copper by 24.8% in the 3rd quarter. Invesco Ltd. now owns 2,553,915 shares of the company’s stock worth $51,666,000 after acquiring an additional 507,217 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Ero Copper by 77.6% in the 4th quarter. Vanguard Group Inc. now owns 2,546,856 shares of the company’s stock worth $72,051,000 after acquiring an additional 1,112,428 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Ero Copper by 11.1% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,507,087 shares of the company’s stock worth $50,794,000 after acquiring an additional 250,303 shares in the last quarter. Bank of America Corp DE raised its position in shares of Ero Copper by 82.6% in the 2nd quarter. Bank of America Corp DE now owns 1,775,632 shares of the company’s stock worth $29,919,000 after acquiring an additional 803,320 shares in the last quarter. Finally, Cape Ann Asset Management Ltd raised its position in shares of Ero Copper by 65.9% in the 4th quarter. Cape Ann Asset Management Ltd now owns 1,717,643 shares of the company’s stock worth $48,592,000 after acquiring an additional 682,500 shares in the last quarter. 71.30% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on ERO. Wall Street Zen lowered Ero Copper from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. The Goldman Sachs Group lowered Ero Copper from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $33.00 to $31.00 in a research report on Tuesday, April 14th. National Bank Financial raised shares of Ero Copper from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Ero Copper in a report on Thursday, June 4th. Two equities research analysts have 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.com, Ero Copper currently has an average rating of “Moderate Buy” and an average target price of $31.50.
Ero Copper Price Performance
Shares of NYSE ERO opened at $29.39 on Friday. The firm’s 50-day moving average price is $28.44 and its 200-day moving average price is $28.61. Ero Copper Corp. has a 1-year low of $12.79 and a 1-year high of $39.80. The firm has a market capitalization of $3.06 billion, a P/E ratio of 10.46 and a beta of 1.17. The company has a current ratio of 1.30, a quick ratio of 0.81 and a debt-to-equity ratio of 0.50.
Ero Copper (NYSE:ERO – Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.13. Ero Copper had a net margin of 31.63% and a return on equity of 27.33%. The firm had revenue of $263.20 million for the quarter, compared to analyst estimates of $245.51 million. Equities research analysts anticipate that Ero Copper Corp. will post 3.92 earnings per share for the current fiscal year.
Ero Copper Company Profile
Ero Copper Corp (NYSE: ERO) is a Canada-based natural resource company focused on the production of copper concentrate from its Brazilian operations. The company’s flagship asset is the Vale do Curaçá mining complex in the state of Bahia, which includes multiple underground mines and a centralized processing facility. Ero Copper’s primary product is copper concentrate, which is sold to smelters and end users around the world.
The Vale do Curaçá complex comprises the Pilar and Surubim underground mines, supported by a fully integrated processing plant.
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