Price T Rowe Associates Inc. MD Decreases Stock Holdings in Ero Copper Corp. (NYSE:ERO)

Price T Rowe Associates Inc. MD lowered its position in Ero Copper Corp. (NYSE:ERO) by 38.8% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 9,108,705 shares of the company’s stock after selling 5,773,963 shares during the period. Price T Rowe Associates Inc. MD owned 8.86% of Ero Copper worth $175,616,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Acuitas Investments LLC grew its position in Ero Copper by 61.5% in the fourth quarter. Acuitas Investments LLC now owns 2,100 shares of the company’s stock worth $33,000 after acquiring an additional 800 shares during the period. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in Ero Copper in the 4th quarter valued at approximately $79,000. Platinum Investment Management Ltd. acquired a new position in Ero Copper during the fourth quarter worth $257,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Ero Copper by 21.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,656 shares of the company’s stock valued at $328,000 after buying an additional 3,632 shares in the last quarter. Finally, Aigen Investment Management LP purchased a new stake in shares of Ero Copper in the 4th quarter valued at $356,000. 71.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ERO has been the subject of several recent analyst reports. Pi Financial upgraded shares of Ero Copper from a “neutral” rating to a “buy” rating in a report on Thursday, April 18th. Jefferies Financial Group boosted their price target on Ero Copper from $29.00 to $32.00 and gave the stock a “hold” rating in a research report on Friday, July 12th. StockNews.com downgraded shares of Ero Copper from a “hold” rating to a “sell” rating in a research report on Friday, July 19th. Ventum Cap Mkts raised shares of Ero Copper from a “hold” rating to a “strong-buy” rating in a report on Monday, July 22nd. Finally, BMO Capital Markets upgraded Ero Copper from a “market perform” rating to an “outperform” rating in a report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $32.00.

Ero Copper Stock Performance

ERO traded down $0.38 during midday trading on Monday, reaching $18.95. The company’s stock had a trading volume of 46,310 shares, compared to its average volume of 344,217. Ero Copper Corp. has a twelve month low of $11.35 and a twelve month high of $24.38. The company has a current ratio of 0.82, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59. The stock has a market cap of $1.96 billion, a P/E ratio of 29.74 and a beta of 1.19. The company has a fifty day simple moving average of $21.21 and a 200 day simple moving average of $19.24.

Ero Copper (NYSE:ERO) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.11. The company had revenue of $105.80 million for the quarter, compared to the consensus estimate of $104.40 million. Ero Copper had a net margin of 14.23% and a return on equity of 10.68%. Research analysts expect that Ero Copper Corp. will post 1.89 earnings per share for the current 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.