1832 Asset Management L.P. Sells 364,463 Shares of Ero Copper Corp. (NYSE:ERO)

1832 Asset Management L.P. cut its holdings in shares of Ero Copper Corp. (NYSE:ERO) by 82.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 75,000 shares of the company’s stock after selling 364,463 shares during the quarter. 1832 Asset Management L.P. owned approximately 0.07% of Ero Copper worth $1,446,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Acuitas Investments LLC boosted its holdings in Ero Copper by 61.5% in the 4th quarter. Acuitas Investments LLC now owns 2,100 shares of the company’s stock worth $33,000 after buying an additional 800 shares during the period. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of Ero Copper during the 4th quarter valued at $79,000. Platinum Investment Management Ltd. purchased a new stake in Ero Copper during the 4th quarter worth about $257,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Ero Copper by 21.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,656 shares of the company’s stock worth $328,000 after purchasing an additional 3,632 shares during the period. Finally, Aigen Investment Management LP purchased a new position in Ero Copper during the 4th quarter valued at about $356,000. Hedge funds and other institutional investors own 71.30% of the company’s stock.

Ero Copper Stock Up 1.8 %

Shares of ERO stock traded up $0.35 during mid-day trading on Friday, reaching $19.33. 178,033 shares of the company’s stock traded hands, compared to its average volume of 255,952. The company’s 50-day moving average price is $21.21 and its 200-day moving average price is $19.22. The company has a market cap of $2.00 billion, a P/E ratio of 29.74 and a beta of 1.19. The company has a quick ratio of 0.60, a current ratio of 0.82 and a debt-to-equity ratio of 0.59. Ero Copper Corp. has a 12 month low of $11.35 and a 12 month high of $24.38.

Ero Copper (NYSE:ERO) last released its earnings results on Tuesday, May 7th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.05 by $0.11. Ero Copper had a return on equity of 10.68% and a net margin of 14.23%. The business had revenue of $105.80 million for the quarter, compared to the consensus estimate of $104.40 million. On average, equities analysts expect that Ero Copper Corp. will post 1.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. BMO Capital Markets upgraded shares of Ero Copper from a “market perform” rating to an “outperform” rating in a research report on Wednesday, June 26th. Scotiabank upgraded shares of Ero Copper from a “sector perform” rating to a “sector outperform” rating in a research report on Thursday, May 30th. StockNews.com downgraded Ero Copper from a “hold” rating to a “sell” rating in a research report on Friday, July 19th. Ventum Cap Mkts upgraded Ero Copper from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 22nd. Finally, Pi Financial raised Ero Copper from a “neutral” rating to a “buy” rating in a report on Thursday, April 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Ero Copper has an average rating of “Moderate Buy” and an average price target of $32.00.

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.