683 Capital Management LLC Sells 750,480 Shares of Ero Copper Corp. $ERO

683 Capital Management LLC reduced its holdings in shares of Ero Copper Corp. (NYSE:ERO) by 41.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,050,000 shares of the company’s stock after selling 750,480 shares during the quarter. Ero Copper accounts for about 1.2% of 683 Capital Management LLC’s holdings, making the stock its 13th biggest position. 683 Capital Management LLC’s holdings in Ero Copper were worth $17,747,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. PenderFund Capital Management Ltd. lifted its position in Ero Copper by 0.7% in the 1st quarter. PenderFund Capital Management Ltd. now owns 123,492 shares of the company’s stock valued at $1,497,000 after acquiring an additional 836 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in Ero Copper by 2.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 56,255 shares of the company’s stock worth $948,000 after purchasing an additional 1,152 shares in the last quarter. Northwest & Ethical Investments L.P. raised its stake in shares of Ero Copper by 22.6% in the first quarter. Northwest & Ethical Investments L.P. now owns 8,033 shares of the company’s stock worth $97,000 after purchasing an additional 1,483 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Ero Copper by 3.4% in the second quarter. Geode Capital Management LLC now owns 55,170 shares of the company’s stock valued at $936,000 after purchasing an additional 1,823 shares in the last quarter. Finally, Samalin Investment Counsel LLC lifted its holdings in shares of Ero Copper by 5.6% in the second quarter. Samalin Investment Counsel LLC now owns 36,158 shares of the company’s stock valued at $609,000 after purchasing an additional 1,931 shares in the last quarter. 71.30% of the stock is owned by institutional investors.

Ero Copper Stock Down 2.5%

ERO opened at $25.31 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.82 and a debt-to-equity ratio of 0.64. The stock has a market cap of $2.62 billion, a price-to-earnings ratio of 19.03 and a beta of 1.23. Ero Copper Corp. has a twelve month low of $9.30 and a twelve month high of $26.77. The company’s 50-day moving average price is $22.62 and its two-hundred day moving average price is $17.97.

Ero Copper (NYSE:ERO) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.09). The company had revenue of $177.10 million for the quarter, compared to analysts’ expectations of $309.30 million. Ero Copper had a return on equity of 17.07% and a net margin of 23.44%. As a group, equities analysts expect that Ero Copper Corp. will post 0.71 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ERO has been the subject of several recent research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Ero Copper in a report on Monday. The Goldman Sachs Group upped their target price on shares of Ero Copper from $18.50 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Scotiabank raised shares of Ero Copper from a “hold” rating to an “outperform” rating in a research report on Thursday, November 6th. CIBC restated a “neutral” rating on shares of Ero Copper in a report on Friday, December 5th. Finally, Stifel Canada downgraded shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Ero Copper presently has a consensus rating of “Hold” and an average target price of $25.00.

Ero Copper Company Profile

Ero Copper Corp. engages in the exploration, development, and production of mining projects in Brazil. The company is involved in the production and sale of copper concentrate from the Caraíba operations located in the Curaçá Valley, northeastern Bahia state, Brazil, as well as gold and silver by-products.