Ero Copper Corp. $ERO Shares Sold by Tidal Investments LLC

Tidal Investments LLC reduced its position in shares of Ero Copper Corp. (NYSE:ERO) by 30.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 136,523 shares of the company’s stock after selling 60,029 shares during the period. Tidal Investments LLC’s holdings in Ero Copper were worth $3,652,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ERO. Engineers Gate Manager LP grew its holdings in shares of Ero Copper by 0.8% during the second quarter. Engineers Gate Manager LP now owns 37,573 shares of the company’s stock worth $1,005,000 after buying an additional 285 shares in the last quarter. Corient Private Wealth LP grew its holdings in Ero Copper by 4.0% in the 2nd quarter. Corient Private Wealth LP now owns 9,046 shares of the company’s stock valued at $242,000 after buying an additional 348 shares in the last quarter. Amundi grew its holdings in Ero Copper by 85.8% in the 2nd quarter. Amundi now owns 965,346 shares of the company’s stock valued at $25,823,000 after buying an additional 445,849 shares in the last quarter. Oakmont Investment Advisors Inc. acquired a new stake in shares of Ero Copper in the 2nd quarter worth $1,645,000. Finally, Van ECK Associates Corp raised its holdings in shares of Ero Copper by 22.9% during the 2nd quarter. Van ECK Associates Corp now owns 111,171 shares of the company’s stock worth $2,974,000 after acquiring an additional 20,698 shares during the period. 71.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ERO shares. Zacks Research cut shares of Ero Copper from a “hold” rating to a “strong sell” rating in a research report on Monday, August 17th. Jefferies Financial Group reiterated a “hold” rating on shares of Ero Copper in a research report on Monday, July 6th. Freedom Broker lowered Ero Copper from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 3rd. Bradesco Corretora lowered shares of Ero Copper from an “outperform” rating to a “neutral” rating in a report on Wednesday, September 2nd. Finally, Wall Street Zen cut shares of Ero Copper from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $32.33.

Ero Copper Price Performance

ERO opened at $33.64 on Tuesday. The stock’s 50-day moving average price is $31.64 and its 200 day moving average price is $29.38. Ero Copper Corp. has a 12-month low of $16.37 and a 12-month high of $40.83. The company has a current ratio of 1.30, a quick ratio of 0.81 and a debt-to-equity ratio of 0.50. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of 11.29, a PEG ratio of 0.30 and a beta of 1.27.

Ero Copper (NYSE:ERO) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. The company had revenue of $284.30 million for the quarter, compared to analyst estimates of $277.64 million. Ero Copper had a net margin of 29.79% and a return on equity of 30.32%. As a group, sell-side analysts expect that Ero Copper Corp. will post 3.96 earnings per share for the current year.

About Ero Copper

Ero Copper Corp. is a Canadian mining company focused on the exploration, development and production of copper and associated mineral products. The company’s operations are located in Brazil, where it produces copper concentrate and may recover gold and other byproducts from its mineral deposits.

Ero Copper’s principal assets include the Caraíba Operations in the state of Bahia and the Tucumã Project in the state of Pará. Caraíba is an established copper mining complex that includes underground and open-pit mines, processing facilities and related infrastructure.