GSA Capital Partners LLP Takes Position in Ero Copper Corp. $ERO

GSA Capital Partners LLP purchased a new position in shares of Ero Copper Corp. (NYSE:ERO) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 27,983 shares of the company’s stock, valued at approximately $749,000.

Several other large investors have also made changes to their positions in the company. Concurrent Investment Advisors LLC acquired a new position in Ero Copper during the fourth quarter valued at approximately $1,142,000. Royal Bank of Canada boosted its holdings in shares of Ero Copper by 123.7% in the 1st quarter. Royal Bank of Canada now owns 354,638 shares of the company’s stock valued at $9,459,000 after purchasing an additional 196,101 shares in the last quarter. Cape Ann Asset Management Ltd boosted its holdings in shares of Ero Copper by 13.5% in the 1st quarter. Cape Ann Asset Management Ltd now owns 1,949,128 shares of the company’s stock valued at $51,983,000 after purchasing an additional 231,485 shares in the last quarter. Artemis Investment Management LLP bought a new position in shares of Ero Copper in the 4th quarter valued at $14,363,000. Finally, Temasek Holdings Private Ltd increased its stake in shares of Ero Copper by 22.3% in the 1st quarter. Temasek Holdings Private Ltd now owns 579,162 shares of the company’s stock valued at $15,396,000 after purchasing an additional 105,502 shares during the last quarter. Institutional investors and hedge funds own 71.30% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on ERO. Jefferies Financial Group reissued a “hold” rating on shares of Ero Copper in a report on Monday, July 6th. Bank of America raised Ero Copper from a “neutral” rating to a “buy” rating and raised their price objective for the company from $30.00 to $34.00 in a research note on Thursday, July 16th. National Bank Financial upgraded Ero Copper from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, May 5th. Scotiabank reissued an “outperform” rating on shares of Ero Copper in a research note on Monday, June 15th. Finally, Zacks Research cut shares of Ero Copper from a “hold” rating to a “strong sell” rating in a report on Monday. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.33.

Ero Copper Price Performance

Shares of NYSE:ERO opened at $34.05 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.81 and a current ratio of 1.30. Ero Copper Corp. has a 52 week low of $13.37 and a 52 week high of $39.80. The firm has a market cap of $3.55 billion, a PE ratio of 11.43, a price-to-earnings-growth ratio of 0.26 and a beta of 1.21. The firm’s fifty day moving average is $28.40 and its 200-day moving average is $28.73.

Ero Copper (NYSE:ERO) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. The business had revenue of $284.30 million during the quarter, compared to the consensus estimate of $277.64 million. Ero Copper had a return on equity of 30.32% and a net margin of 29.79%. Sell-side analysts predict that Ero Copper Corp. will post 4.02 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.