CenterBook Partners LP Sells 74,634 Shares of Ero Copper Corp. $ERO

CenterBook Partners LP lowered its stake in Ero Copper Corp. (NYSE:ERO) by 69.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,108 shares of the company’s stock after selling 74,634 shares during the quarter. CenterBook Partners LP’s holdings in Ero Copper were worth $937,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. FNY Investment Advisers LLC purchased a new position in Ero Copper during the fourth quarter worth about $25,000. Banque Cantonale Vaudoise purchased a new stake in shares of Ero Copper in the 3rd quarter valued at about $111,000. SG Americas Securities LLC purchased a new stake in shares of Ero Copper in the 4th quarter valued at about $115,000. Shay Capital LLC bought a new stake in shares of Ero Copper during the 3rd quarter valued at about $202,000. Finally, Versor Investments LP bought a new stake in shares of Ero Copper during the 3rd quarter valued at about $217,000. 71.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ERO. The Goldman Sachs Group downgraded shares of Ero Copper from a “buy” rating to a “neutral” rating and lowered their target price for the company from $33.00 to $31.00 in a research note on Tuesday, April 14th. Weiss Ratings restated a “hold (c+)” rating on shares of Ero Copper in a research report on Thursday, June 4th. Wall Street Zen lowered shares of Ero Copper from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. National Bank Financial raised Ero Copper from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, May 5th. Finally, Zacks Research cut shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 12th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $31.50.

Ero Copper Stock Down 1.9%

Shares of NYSE:ERO opened at $25.76 on Thursday. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of 9.17 and a beta of 1.17. The stock has a fifty day simple moving average of $28.39 and a two-hundred day simple moving average of $28.56. Ero Copper Corp. has a 12-month low of $12.79 and a 12-month high of $39.80. The company has a current ratio of 1.30, a quick ratio of 0.81 and a debt-to-equity ratio of 0.50.

Ero Copper (NYSE:ERO) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.56 by $0.13. Ero Copper had a net margin of 31.63% and a return on equity of 27.33%. The company had revenue of $263.20 million for the quarter, compared to the consensus estimate of $245.51 million. On average, research analysts anticipate that Ero Copper Corp. will post 3.92 earnings per share for the current fiscal 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.