Envestnet Asset Management Inc. Sells 5,110 Shares of Ero Copper Corp. (NYSE:ERO)

Envestnet Asset Management Inc. lessened its holdings in shares of Ero Copper Corp. (NYSE:ERO) by 8.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,145 shares of the company’s stock after selling 5,110 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.05% of Ero Copper worth $703,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in shares of Ero Copper by 16.1% during the 3rd quarter. Geode Capital Management LLC now owns 46,940 shares of the company’s stock worth $1,050,000 after acquiring an additional 6,521 shares during the period. Barclays PLC boosted its stake in Ero Copper by 64.4% in the 3rd quarter. Barclays PLC now owns 33,987 shares of the company’s stock valued at $757,000 after purchasing an additional 13,309 shares during the period. Tidal Investments LLC grew its holdings in Ero Copper by 142.5% in the 3rd quarter. Tidal Investments LLC now owns 51,557 shares of the company’s stock valued at $1,149,000 after buying an additional 30,299 shares in the last quarter. Canoe Financial LP acquired a new position in Ero Copper in the 4th quarter valued at $456,000. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new stake in Ero Copper in the 4th quarter valued at about $125,000. Institutional investors own 71.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. BMO Capital Markets started coverage on shares of Ero Copper in a research report on Wednesday, April 16th. They issued an “outperform” rating for the company. Desjardins initiated coverage on Ero Copper in a research note on Friday, April 4th. They issued a “hold” rating on the stock. TD Cowen raised shares of Ero Copper from a “hold” rating to a “buy” rating in a research note on Wednesday, February 12th. Raymond James reissued an “outperform” rating on shares of Ero Copper in a research note on Friday, April 4th. Finally, TD Securities upgraded shares of Ero Copper from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Ero Copper presently has an average rating of “Buy” and a consensus price target of $26.33.

Ero Copper Price Performance

ERO stock opened at $12.78 on Friday. Ero Copper Corp. has a 52-week low of $9.30 and a 52-week high of $24.34. 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 business has a 50-day simple moving average of $11.97 and a two-hundred day simple moving average of $14.01. The company has a market capitalization of $1.32 billion, a P/E ratio of 75.18 and a beta of 1.10.

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 return on equity of 11.30% and a net margin of 3.67%. The firm had revenue of $122.50 million for the quarter, compared to analysts’ expectations of $183.26 million. Research analysts expect that Ero Copper Corp. will post 0.71 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.