HBK Sorce Advisory LLC Has $203,000 Stock Position in Ero Copper Corp. (NYSE:ERO)

HBK Sorce Advisory LLC lessened its stake in Ero Copper Corp. (NYSE:ERO) by 8.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,495 shares of the company’s stock after selling 845 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Ero Copper were worth $203,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ERO. Platinum Investment Management Ltd. bought a new stake in Ero Copper during the fourth quarter worth $257,000. Chesapeake Capital Corp IL bought a new stake in shares of Ero Copper in the 2nd quarter valued at about $351,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Ero Copper by 6.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,933 shares of the company’s stock valued at $469,000 after purchasing an additional 1,277 shares during the period. Aigen Investment Management LP acquired a new stake in Ero Copper in the 4th quarter valued at about $356,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Ero Copper during the fourth quarter worth about $385,000. 71.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on ERO. Ventum Cap Mkts upgraded Ero Copper from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 22nd. Raymond James upgraded Ero Copper from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 3rd. Bank of America assumed coverage on Ero Copper in a report on Tuesday, September 3rd. They set a “buy” rating and a $28.00 price target for the company. BMO Capital Markets upgraded shares of Ero Copper from a “market perform” rating to an “outperform” rating in a report on Wednesday, June 26th. Finally, Jefferies Financial Group upgraded shares of Ero Copper from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $30.00.

Ero Copper Stock Up 2.7 %

ERO stock opened at $21.17 on Monday. Ero Copper Corp. has a fifty-two week low of $11.35 and a fifty-two week high of $24.34. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.82 and a quick ratio of 0.60. The business’s fifty day moving average price is $20.00 and its two-hundred day moving average price is $20.25. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 32.57 and a beta of 1.19.

Ero Copper (NYSE:ERO) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $117.10 million for the quarter. Ero Copper had a positive return on equity of 9.89% and a negative net margin of 4.79%. During the same period in the prior year, the company earned $0.24 EPS. On average, equities analysts anticipate that Ero Copper Corp. will post 1.75 earnings per share for the current 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.