Ero Copper Corp. $ERO is Cape Ann Asset Management Ltd’s 2nd Largest Position

Cape Ann Asset Management Ltd increased its holdings in shares of Ero Copper Corp. (NYSE:ERO) by 65.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,717,643 shares of the company’s stock after purchasing an additional 682,500 shares during the period. Ero Copper accounts for about 13.2% of Cape Ann Asset Management Ltd’s holdings, making the stock its 2nd biggest holding. Cape Ann Asset Management Ltd owned approximately 1.65% of Ero Copper worth $48,592,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Citigroup Inc. lifted its holdings in Ero Copper by 2,198.1% in the 3rd quarter. Citigroup Inc. now owns 88,729 shares of the company’s stock worth $1,798,000 after buying an additional 84,868 shares in the last quarter. Picton Mahoney Asset Management acquired a new stake in Ero Copper during the third quarter worth about $12,599,000. Quantbot Technologies LP acquired a new stake in Ero Copper during the third quarter worth about $1,267,000. Concurrent Investment Advisors LLC bought a new position in Ero Copper in the 4th quarter worth about $1,142,000. Finally, Artemis Investment Management LLP bought a new position in Ero Copper in the 4th quarter worth about $14,363,000. 71.30% of the stock is owned by hedge funds and other institutional investors.

Ero Copper Trading Up 6.1%

Shares of ERO stock opened at $29.39 on Friday. Ero Copper Corp. has a 12-month low of $12.79 and a 12-month high of $39.80. The company has a market capitalization of $3.06 billion, a P/E ratio of 10.46 and a beta of 1.17. The firm has a 50-day moving average price of $28.44 and a 200 day moving average price of $28.61. The company has a quick ratio of 0.81, a current ratio of 1.30 and a debt-to-equity ratio of 0.50.

Ero Copper (NYSE:ERO) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.69 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $245.51 million. Research analysts forecast that Ero Copper Corp. will post 3.92 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on ERO shares. National Bank Financial upgraded shares of Ero Copper from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, May 5th. Weiss Ratings restated a “hold (c+)” rating on shares of Ero Copper in a research report on Thursday, June 4th. The Goldman Sachs Group cut shares of Ero Copper from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $33.00 to $31.00 in a research report on Tuesday, April 14th. Finally, Wall Street Zen cut shares of Ero Copper from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.50.

Ero Copper 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.