Ero Copper Corp. $ERO Shares Sold by Impala Asset Management LLC

Impala Asset Management LLC cut its stake in shares of Ero Copper Corp. (NYSE:ERO) by 44.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 950,000 shares of the company’s stock after selling 757,400 shares during the period. Ero Copper comprises approximately 17.0% of Impala Asset Management LLC’s investment portfolio, making the stock its 2nd biggest position. Impala Asset Management LLC owned approximately 0.91% of Ero Copper worth $26,949,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. TD Waterhouse Canada Inc. increased its holdings in shares of Ero Copper by 2.2% during the fourth quarter. TD Waterhouse Canada Inc. now owns 17,852 shares of the company’s stock worth $503,000 after buying an additional 380 shares in the last quarter. Pictet Asset Management Holding SA increased its holdings in shares of Ero Copper by 3.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 18,103 shares of the company’s stock worth $513,000 after buying an additional 574 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Ero Copper during the fourth quarter worth $25,000. Geode Capital Management LLC increased its holdings in shares of 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 buying an additional 1,823 shares in the last quarter. Finally, CIBC Asset Management Inc increased its holdings in shares of Ero Copper by 2.0% during the fourth quarter. CIBC Asset Management Inc now owns 95,032 shares of the company’s stock worth $2,690,000 after buying an additional 1,903 shares in the last quarter. 71.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Ero Copper in a report on Thursday, June 4th. National Bank Financial upgraded shares of Ero Copper from a “sector perform” rating to an “outperform” rating in a report on Tuesday, May 5th. Wall Street Zen downgraded shares of Ero Copper from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, The Goldman Sachs Group downgraded shares of Ero Copper from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $33.00 to $31.00 in a report on Tuesday, April 14th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $31.50.

Ero Copper Stock Performance

NYSE ERO opened at $29.39 on Friday. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of 10.46 and a beta of 1.17. Ero Copper Corp. has a twelve month low of $12.79 and a twelve month high of $39.80. The stock has a fifty day simple moving average of $28.44 and a 200 day simple moving average of $28.61. The company has a quick ratio of 0.81, a current ratio of 1.30 and a debt-to-equity ratio of 0.50.

Ero Copper (NYSE:ERO) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.13. The business had revenue of $263.20 million during 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%. Sell-side analysts expect that Ero Copper Corp. will post 3.92 EPS for the current year.

About Ero Copper

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.