Quantbot Technologies LP Acquires Shares of 12,022 Ero Copper Corp. (NYSE:ERO)

Quantbot Technologies LP bought a new position in shares of Ero Copper Corp. (NYSE:ERO) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 12,022 shares of the company’s stock, valued at approximately $162,000.

Several other hedge funds have also modified their holdings of ERO. Northwest & Ethical Investments L.P. increased its position in Ero Copper by 19.1% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 6,550 shares of the company’s stock worth $88,000 after purchasing an additional 1,050 shares during the period. Boston Partners grew its position in shares of Ero Copper by 66.9% during the 4th quarter. Boston Partners now owns 1,101,265 shares of the company’s stock worth $14,850,000 after buying an additional 441,413 shares during the period. Swiss National Bank raised its stake in shares of Ero Copper by 0.6% during the fourth quarter. Swiss National Bank now owns 194,100 shares of the company’s stock worth $2,616,000 after buying an additional 1,200 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Ero Copper in the fourth quarter valued at approximately $991,000. Finally, Aigen Investment Management LP bought a new position in Ero Copper in the fourth quarter valued at approximately $704,000. 71.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ERO has been the subject of several recent research reports. TD Cowen upgraded shares of Ero Copper from a “hold” rating to a “buy” rating in a research report on Wednesday, February 12th. TD Securities upgraded Ero Copper from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 12th. Finally, The Goldman Sachs Group began coverage on Ero Copper in a research report on Monday, December 2nd. They set a “buy” rating and a $19.00 target price for the company. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $26.33.

Ero Copper Trading Down 6.5 %

NYSE:ERO opened at $12.23 on Monday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.68 and a quick ratio of 0.45. The business’s 50-day simple moving average is $13.23 and its 200-day simple moving average is $15.75. Ero Copper Corp. has a fifty-two week low of $11.11 and a fifty-two week high of $24.34. The stock has a market capitalization of $1.27 billion, a PE ratio of 71.91 and a beta of 1.17.

Ero Copper (NYSE:ERO) last released its quarterly earnings results on Thursday, March 6th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.04). Ero Copper had a net margin of 3.67% and a return on equity of 11.30%. The company had revenue of $122.50 million during the quarter, compared to analyst estimates of $183.26 million. Sell-side analysts expect that Ero Copper Corp. will post 0.71 earnings per share for the current fiscal year.

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.