SG Americas Securities LLC Has $16 Million Stock Position in Ero Copper Corp. $ERO

SG Americas Securities LLC lifted its stake in shares of Ero Copper Corp. (NYSE:ERO) by 14,631.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 599,878 shares of the company’s stock after purchasing an additional 595,806 shares during the period. SG Americas Securities LLC owned 0.58% of Ero Copper worth $15,999,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Rockefeller Capital Management L.P. bought a new stake in Ero Copper during the fourth quarter worth $673,000. Corient Private Wealth LLC bought a new position in shares of Ero Copper in the 4th quarter valued at about $246,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Ero Copper in the 4th quarter valued at about $38,000. Invesco Ltd. increased its stake in shares of Ero Copper by 10.7% during the 4th quarter. Invesco Ltd. now owns 2,827,385 shares of the company’s stock worth $79,987,000 after purchasing an additional 273,470 shares during the last quarter. Finally, Beacon Pointe Advisors LLC bought a new stake in shares of Ero Copper in the 4th quarter valued at about $314,000. 71.30% of the stock is owned by institutional investors.

Ero Copper Stock Down 0.3%

Ero Copper stock opened at $26.35 on Friday. The company’s 50-day moving average price is $28.32 and its two-hundred day moving average price is $28.92. The company has a quick ratio of 0.81, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. The stock has a market cap of $2.75 billion, a P/E ratio of 9.38 and a beta of 1.17. Ero Copper Corp. has a twelve month low of $12.79 and a twelve month high of $39.80.

Ero Copper (NYSE:ERO) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.13. The company had revenue of $263.20 million during 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 expect that Ero Copper Corp. will post 4.1 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. National Bank Financial upgraded shares of Ero Copper from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, May 5th. Scotiabank reissued an “outperform” rating on shares of Ero Copper in a research report on Monday, June 15th. Weiss Ratings restated a “hold (c+)” rating on shares of Ero Copper in a research note on Thursday, June 4th. Wall Street Zen raised Ero Copper from a “hold” rating to a “buy” rating in a research report on Saturday, June 20th. Finally, The Goldman Sachs Group downgraded Ero Copper from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $33.00 to $31.00 in a research note on Tuesday, April 14th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $31.50.

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.