Patriot Financial Group Insurance Agency LLC Purchases New Position in Ero Copper Corp. $ERO

Patriot Financial Group Insurance Agency LLC bought a new stake in Ero Copper Corp. (NYSE:ERO) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 19,960 shares of the company’s stock, valued at approximately $532,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ERO. Citigroup Inc. lifted its holdings in shares of Ero Copper by 2,198.1% in the 3rd quarter. Citigroup Inc. now owns 88,729 shares of the company’s stock valued at $1,798,000 after acquiring an additional 84,868 shares during the last quarter. Picton Mahoney Asset Management bought a new stake in Ero Copper during the third quarter worth approximately $12,599,000. Quantbot Technologies LP purchased a new stake in Ero Copper during the third quarter valued at approximately $1,267,000. Concurrent Investment Advisors LLC bought a new stake in shares of Ero Copper in the 4th quarter valued at approximately $1,142,000. Finally, Artemis Investment Management LLP bought a new stake in shares of Ero Copper in the 4th quarter valued at approximately $14,363,000. 71.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ERO shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Ero Copper in a research report on Thursday, June 4th. Scotiabank reaffirmed an “outperform” rating on shares of Ero Copper in a research note on Monday, June 15th. National Bank Financial upgraded shares of Ero Copper from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, May 5th. The Goldman Sachs Group downgraded shares of Ero Copper from a “buy” rating to a “neutral” rating and reduced their target price for the company from $33.00 to $31.00 in a research note on Tuesday, April 14th. Finally, Wall Street Zen upgraded shares of Ero Copper from a “hold” rating to a “buy” rating in a report on Saturday, June 20th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $31.50.

Ero Copper Price Performance

Shares of ERO stock opened at $26.69 on Wednesday. Ero Copper Corp. has a 52-week low of $12.79 and a 52-week high of $39.80. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.81 and a current ratio of 1.30. The firm has a market capitalization of $2.78 billion, a P/E ratio of 9.50 and a beta of 1.17. The stock has a 50 day moving average price of $28.14 and a 200 day moving average price of $28.96.

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 return on equity of 27.33% and a net margin of 31.63%.The company had revenue of $263.20 million for the quarter, compared to the consensus estimate of $245.51 million. As a group, sell-side analysts predict that Ero Copper Corp. will post 4.1 earnings per share for the current year.

Ero Copper Company 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.