Ero Copper Corp. $ERO Shares Sold by Impala Asset Management LLC

Impala Asset Management LLC trimmed its stake in Ero Copper Corp. (NYSE:ERO) by 44.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 950,000 shares of the company’s stock after selling 757,400 shares during the period. Ero Copper accounts for about 17.0% of Impala Asset Management LLC’s investment portfolio, making the stock its 2nd largest holding. Impala Asset Management LLC’s holdings in Ero Copper were worth $26,949,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of ERO. Hillsdale Investment Management Inc. increased its holdings in Ero Copper by 602.9% in the fourth quarter. Hillsdale Investment Management Inc. now owns 1,685,445 shares of the company’s stock valued at $47,767,000 after purchasing an additional 1,445,645 shares during the period. Vanguard Group Inc. boosted its position in Ero Copper by 1,614.0% during the third quarter. Vanguard Group Inc. now owns 1,434,428 shares of the company’s stock valued at $29,056,000 after acquiring an additional 1,350,738 shares during the last quarter. Bank of America Corp DE boosted its position in Ero Copper by 82.6% during the second quarter. Bank of America Corp DE now owns 1,775,632 shares of the company’s stock valued at $29,919,000 after acquiring an additional 803,320 shares during the last quarter. Cape Ann Asset Management Ltd boosted its position in Ero Copper by 65.9% during the fourth quarter. Cape Ann Asset Management Ltd now owns 1,717,643 shares of the company’s stock valued at $48,592,000 after acquiring an additional 682,500 shares during the last quarter. Finally, Picton Mahoney Asset Management bought a new stake in Ero Copper during the third quarter valued at $12,599,000. 71.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ero Copper in a research report on Thursday, June 4th. Wall Street Zen cut shares of Ero Copper from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. National Bank Financial raised shares of Ero Copper from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, May 5th. Finally, The Goldman Sachs Group cut shares of Ero Copper from a “buy” rating to a “neutral” rating and cut their price target for the company from $33.00 to $31.00 in a research report on Tuesday, April 14th. Two research 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.50.

Ero Copper Stock Performance

Shares of ERO opened at $29.39 on Friday. 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 stock has a market capitalization of $3.06 billion, a P/E ratio of 10.46 and a beta of 1.17. The firm’s fifty day simple moving average is $28.44 and its two-hundred day simple moving average is $28.61. Ero Copper Corp. has a 12 month low of $12.79 and a 12 month high of $39.80.

Ero Copper (NYSE:ERO) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.69 earnings per share 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 firm had revenue of $263.20 million for the quarter, compared to analyst estimates of $245.51 million. As a group, analysts predict that Ero Copper Corp. will post 3.92 EPS for the current 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.