CenterBook Partners LP Sells 74,634 Shares of Ero Copper Corp. $ERO

CenterBook Partners LP trimmed its position in shares of Ero Copper Corp. (NYSE:ERO) by 69.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,108 shares of the company’s stock after selling 74,634 shares during the period. CenterBook Partners LP’s holdings in Ero Copper were worth $937,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Royal Bank of Canada raised its position in Ero Copper by 2.3% during the first quarter. Royal Bank of Canada now owns 188,384 shares of the company’s stock valued at $2,283,000 after purchasing an additional 4,325 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Ero Copper in the first quarter worth about $217,000. Goldman Sachs Group Inc. increased its holdings in shares of Ero Copper by 82.0% during the first quarter. Goldman Sachs Group Inc. now owns 275,598 shares of the company’s stock worth $3,340,000 after buying an additional 124,179 shares in the last quarter. Empowered Funds LLC acquired a new position in Ero Copper in the 1st quarter worth about $356,000. Finally, Geode Capital Management LLC increased its stake 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 buying an additional 1,823 shares during the period. Institutional investors and hedge funds own 71.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ERO shares. National Bank Financial raised Ero Copper from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, May 5th. Zacks Research lowered Ero Copper from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 12th. Wall Street Zen cut Ero Copper from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ero Copper in a research note on Thursday, June 4th. Finally, The Goldman Sachs Group lowered Ero Copper from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $33.00 to $31.00 in a research report on Tuesday, April 14th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $31.50.

Ero Copper Stock Performance

Shares of Ero Copper stock opened at $25.76 on Thursday. Ero Copper Corp. has a 12 month low of $12.79 and a 12 month high of $39.80. The firm has a market capitalization of $2.69 billion, a P/E ratio of 9.17 and a beta of 1.17. The business’s fifty day simple moving average is $28.39 and its 200 day simple moving average is $28.56. The company has a current ratio of 1.30, a quick ratio of 0.81 and a debt-to-equity ratio of 0.50.

Ero Copper (NYSE:ERO) last released its earnings results on Monday, May 4th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.13. The company had revenue of $263.20 million for the quarter, compared to analysts’ expectations of $245.51 million. Ero Copper had a return on equity of 27.33% and a net margin of 31.63%. As a group, analysts anticipate that Ero Copper Corp. will post 3.92 EPS 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.