JPMorgan Chase & Co. Sells 175,407 Shares of Ero Copper Corp. (NYSE:ERO)

JPMorgan Chase & Co. trimmed its holdings in shares of Ero Copper Corp. (NYSE:ERO) by 96.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 5,640 shares of the company’s stock after selling 175,407 shares during the period. JPMorgan Chase & Co.’s holdings in Ero Copper were worth $126,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Ero Copper by 6.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,408 shares of the company’s stock worth $522,000 after buying an additional 1,475 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in Ero Copper in the 3rd quarter valued at about $38,000. Pinpoint Asset Management Ltd raised its stake in shares of Ero Copper by 7.2% in the third quarter. Pinpoint Asset Management Ltd now owns 42,372 shares of the company’s stock worth $944,000 after acquiring an additional 2,856 shares during the last quarter. CIBC Asset Management Inc lifted its position in shares of Ero Copper by 3.3% during the third quarter. CIBC Asset Management Inc now owns 117,832 shares of the company’s stock worth $2,624,000 after purchasing an additional 3,746 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of Ero Copper by 3.1% during the third quarter. Van ECK Associates Corp now owns 136,990 shares of the company’s stock valued at $3,051,000 after purchasing an additional 4,097 shares during the last quarter. 71.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on ERO. The Goldman Sachs Group initiated coverage on Ero Copper in a report on Monday, December 2nd. They set a “buy” rating and a $19.00 price objective on the stock. StockNews.com raised Ero Copper from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Ero Copper presently has a consensus rating of “Buy” and a consensus price target of $26.33.

Ero Copper Stock Performance

Shares of ERO stock opened at $13.37 on Monday. The firm has a market cap of $1.38 billion, a PE ratio of 78.66 and a beta of 1.15. Ero Copper Corp. has a 12 month low of $12.78 and a 12 month high of $24.34. The company’s fifty day simple moving average is $14.07 and its 200-day simple moving average is $17.60. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 0.71.

Ero Copper (NYSE:ERO) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. The company had revenue of $124.80 million during the quarter, compared to the consensus estimate of $148.80 million. Ero Copper had a net margin of 3.67% and a return on equity of 11.30%. During the same period in the prior year, the business posted $0.18 EPS. Equities research analysts expect that Ero Copper Corp. will post 0.92 EPS for the current fiscal year.

About Ero Copper

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.