Ero Copper Corp. $ERO Stock: Prime Capital Investment Advisors LLC Reduces Holdings

Prime Capital Investment Advisors LLC reduced its position in Ero Copper Corp. (NYSE:ERO) by 27.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 66,809 shares of the company’s stock after selling 24,950 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Ero Copper were worth $2,451,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Genesee Capital Advisors LLC acquired a new stake in Ero Copper during the third quarter worth about $337,000. Kercheville Advisors LLC purchased a new position in shares of Ero Copper in the 3rd quarter worth about $295,000. TD Waterhouse Canada Inc. raised its holdings in shares of Ero Copper by 881.8% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 113,421 shares of the company’s stock worth $4,043,000 after purchasing an additional 101,869 shares during the period. Sanders Morris Harris LLC acquired a new position in shares of Ero Copper in the 3rd quarter valued at about $807,000. Finally, Artemis Investment Management LLP lifted its stake in shares of Ero Copper by 34.3% in the 3rd quarter. Artemis Investment Management LLP now owns 893,832 shares of the company’s stock valued at $32,837,000 after purchasing an additional 228,194 shares in the last quarter. Institutional investors and hedge funds own 71.30% of the company’s stock.

Analyst Ratings Changes

ERO has been the subject of a number of research reports. Bradesco Corretora cut Ero Copper from an “outperform” rating to a “neutral” rating in a report on Wednesday, September 2nd. Weiss Ratings raised shares of Ero Copper from a “hold (c+)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Wall Street Zen lowered shares of Ero Copper from a “buy” rating to a “hold” rating in a report on Saturday, October 17th. Scotiabank lowered shares of Ero Copper from a “sector outperform” rating to a “sector perform” rating in a report on Tuesday, October 13th. Finally, Zacks Research cut shares of Ero Copper from a “hold” rating to a “strong sell” rating in a research report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.33.

Ero Copper Trading Down 2.7%

Shares of ERO opened at $32.00 on Thursday. The stock’s 50-day moving average is $35.98 and its two-hundred day moving average is $30.88. The stock has a market cap of $3.34 billion, a PE ratio of 11.62, a P/E/G ratio of 0.26 and a beta of 1.27. Ero Copper Corp. has a 12 month low of $19.09 and a 12 month 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.

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

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.