25,000 Shares in Ero Copper Corp. $ERO Acquired by Ninepoint Partners LP

Ninepoint Partners LP purchased a new stake in shares of Ero Copper Corp. (NYSE:ERO) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 25,000 shares of the company’s stock, valued at approximately $669,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada raised its stake in shares of Ero Copper by 2.3% in the 1st quarter. Royal Bank of Canada now owns 188,384 shares of the company’s stock worth $2,283,000 after buying an additional 4,325 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Ero Copper during the first quarter valued at about $217,000. Goldman Sachs Group Inc. boosted its stake in Ero Copper by 82.0% during the first quarter. Goldman Sachs Group Inc. now owns 275,598 shares of the company’s stock valued at $3,340,000 after buying an additional 124,179 shares in the last quarter. Empowered Funds LLC acquired a new position in Ero Copper during the first quarter worth about $356,000. Finally, Geode Capital Management LLC grew its holdings in Ero Copper by 3.4% during the second quarter. Geode Capital Management LLC now owns 55,170 shares of the company’s stock worth $936,000 after acquiring an additional 1,823 shares during the period. 71.30% of the stock is owned by institutional investors.

Ero Copper Trading Up 5.7%

Shares of ERO opened at $36.02 on Friday. The business’s 50-day moving average price is $28.57 and its 200 day moving average price is $28.75. The stock has a market capitalization of $3.76 billion, a P/E ratio of 12.09, a P/E/G ratio of 0.27 and a beta of 1.21. Ero Copper Corp. has a 1-year low of $13.55 and a 1-year high of $39.80. 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) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. Ero Copper had a net margin of 29.79% and a return on equity of 30.32%. The company had revenue of $284.30 million during the quarter, compared to analyst estimates of $277.64 million. Analysts expect that Ero Copper Corp. will post 4.02 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ERO shares. Jefferies Financial Group reissued a “hold” rating on shares of Ero Copper in a report on Monday, July 6th. Bank of America raised shares of Ero Copper from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $30.00 to $34.00 in a research note on Thursday, July 16th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Ero Copper in a report on Thursday, June 4th. Zacks Research lowered shares of Ero Copper from a “hold” rating to a “strong sell” rating in a research note on Monday. Finally, Wall Street Zen raised shares of Ero Copper from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.33.

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.