Amundi Cuts Holdings in Ero Copper Corp. (NYSE:ERO)

Amundi reduced its stake in shares of Ero Copper Corp. (NYSE:ERO) by 11.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 578,880 shares of the company’s stock after selling 76,662 shares during the period. Amundi’s holdings in Ero Copper were worth $8,301,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Synergy Asset Management LLC bought a new position in Ero Copper during the fourth quarter valued at approximately $78,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in Ero Copper in the 4th quarter worth $125,000. Sentry Investment Management LLC raised its position in Ero Copper by 5.8% in the 4th quarter. Sentry Investment Management LLC now owns 21,716 shares of the company’s stock worth $293,000 after purchasing an additional 1,188 shares during the period. Keybank National Association OH lifted its stake in Ero Copper by 8.0% in the fourth quarter. Keybank National Association OH now owns 26,120 shares of the company’s stock worth $352,000 after purchasing an additional 1,946 shares during the last quarter. Finally, Canoe Financial LP purchased a new stake in Ero Copper during the fourth quarter valued at about $456,000. 71.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group began coverage on Ero Copper in a research note on Monday, December 2nd. They issued a “buy” rating and a $19.00 target price for the company. TD Cowen raised Ero Copper from a “hold” rating to a “buy” rating in a research note on Wednesday, February 12th. Finally, TD Securities raised shares of Ero Copper from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $26.33.

Ero Copper Price Performance

ERO opened at $12.62 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.45 and a current ratio of 0.68. The stock has a market capitalization of $1.31 billion, a PE ratio of 74.21 and a beta of 1.17. The stock’s 50 day moving average price is $13.37 and its 200-day moving average price is $16.21. Ero Copper Corp. has a 52-week low of $11.11 and a 52-week high of $24.34.

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 the consensus estimate of $183.26 million. On average, equities research analysts predict that Ero Copper Corp. will post 0.71 EPS for the current year.

Ero Copper 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.