Ero Copper Corp. $ERO Stock Holdings Lessened by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. reduced its stake in shares of Ero Copper Corp. (NYSE:ERO) by 58.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 694,080 shares of the company’s stock after selling 991,365 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Ero Copper were worth $18,491,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ERO. FIL Ltd grew its holdings in shares of Ero Copper by 74.1% during the 4th quarter. FIL Ltd now owns 11,670,422 shares of the company’s stock valued at $330,161,000 after acquiring an additional 4,966,427 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Ero Copper by 10.7% during the fourth quarter. Invesco Ltd. now owns 2,827,385 shares of the company’s stock worth $79,987,000 after acquiring an additional 273,470 shares in the last quarter. Vanguard Group Inc. boosted its position in Ero Copper by 77.6% during the fourth quarter. Vanguard Group Inc. now owns 2,546,856 shares of the company’s stock valued at $72,051,000 after purchasing an additional 1,112,428 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Ero Copper by 11.1% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,507,087 shares of the company’s stock valued at $50,794,000 after purchasing an additional 250,303 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in Ero Copper by 82.6% in the second quarter. Bank of America Corp DE now owns 1,775,632 shares of the company’s stock valued at $29,919,000 after purchasing an additional 803,320 shares in the last quarter. 71.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ERO shares. Wall Street Zen lowered shares of Ero Copper from a “buy” rating to a “hold” rating in a research report on Sunday. The Goldman Sachs Group lowered Ero Copper from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $33.00 to $31.00 in a report on Tuesday, April 14th. Weiss Ratings reissued a “hold (c+)” rating on shares of Ero Copper in a research note on Thursday, June 4th. National Bank Financial upgraded Ero Copper from a “sector perform” rating to an “outperform” rating in a report on Tuesday, May 5th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Ero Copper in a research report on Monday, July 6th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, Ero Copper presently has an average rating of “Moderate Buy” and an average price target of $31.50.

Ero Copper Stock Performance

Shares of ERO opened at $24.70 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 0.81. Ero Copper Corp. has a one year low of $12.79 and a one year high of $39.80. The company’s fifty day moving average price is $27.85 and its 200 day moving average price is $28.93. The company has a market capitalization of $2.58 billion, a PE ratio of 8.79 and a beta of 1.20.

Ero Copper (NYSE:ERO) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.13. The company had revenue of $263.20 million for the quarter, compared to the consensus estimate of $245.51 million. Ero Copper had a return on equity of 27.33% and a net margin of 31.63%. As a group, analysts expect that Ero Copper Corp. will post 4.06 earnings per share for the current year.

Ero Copper 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.