Ero Copper Corp. $ERO Stock Sold by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC lowered its position in Ero Copper Corp. (NYSE:ERO) by 27.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,809 shares of the company’s stock after selling 24,950 shares during the period. Prime Capital Investment Advisors LLC owned approximately 0.06% of Ero Copper worth $2,451,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Impala Asset Management LLC purchased a new stake in shares of Ero Copper in the second quarter valued at about $31,201,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Ero Copper in the second quarter valued at approximately $28,802,000. Arrowstreet Capital Limited Partnership grew its position in shares of Ero Copper by 4,913.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 974,932 shares of the company’s stock valued at $26,000,000 after purchasing an additional 955,487 shares during the last quarter. Bank of America Corp DE acquired a new stake in shares of Ero Copper in the second quarter valued at approximately $25,121,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Ero Copper during the 2nd quarter worth approximately $19,887,000. Institutional investors and hedge funds own 71.30% of the company’s stock.

Ero Copper Trading Down 2.7%

Shares of ERO stock opened at $32.00 on Thursday. The firm has a market cap of $3.34 billion, a P/E ratio of 11.62, a PEG ratio of 0.26 and a beta of 1.27. Ero Copper Corp. has a 1-year low of $19.09 and a 1-year high of $40.83. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 0.81. The firm’s 50-day simple moving average is $35.98 and its 200-day simple moving average is $30.88.

Ero Copper (NYSE:ERO) last released its earnings results on Wednesday, August 5th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.09. Ero Copper had a net margin of 29.79% and a return on equity of 30.32%. The business had revenue of $284.30 million for the quarter, compared to analysts’ expectations of $277.64 million. As a group, equities analysts forecast that Ero Copper Corp. will post 4.20 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Jefferies Financial Group reissued a “hold” rating on shares of Ero Copper in a research report on Monday, July 6th. Freedom Broker downgraded Ero Copper from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 3rd. Zacks Research lowered Ero Copper from a “hold” rating to a “strong sell” rating in a research note on Monday. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Ero Copper in a research note on Wednesday, September 23rd. Finally, Bradesco Corretora cut Ero Copper from an “outperform” rating to a “neutral” rating in a research report on Wednesday, September 2nd. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $32.33.

Ero Copper Profile

Ero Copper Corp. is a Canadian-based mining company focused on the exploration, development and production of copper and associated minerals. Its shares trade under the symbol ERO on the New York Stock Exchange and the Toronto Stock Exchange.

The company’s principal assets are in Brazil. Its Caraíba Operations in the state of Bahia include underground and open-pit copper mines, processing facilities and related infrastructure. Ero Copper also operates the Tucumã copper mine in the state of Pará, while advancing additional exploration and development opportunities in Brazil.

Ero Copper was established in 2016 and has built its business around operating and expanding its Brazilian mining portfolio.