Envestnet Asset Management Inc. Purchases 2,958 Shares of Ero Copper Corp. (NYSE:ERO)

Envestnet Asset Management Inc. lifted its position in Ero Copper Corp. (NYSE:ERO) by 5.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 55,103 shares of the company’s stock after purchasing an additional 2,958 shares during the quarter. Envestnet Asset Management Inc. owned 0.05% of Ero Copper worth $668,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ERO. LPL Financial LLC lifted its position in Ero Copper by 66.7% during the 4th quarter. LPL Financial LLC now owns 50,897 shares of the company’s stock worth $686,000 after buying an additional 20,371 shares in the last quarter. Franklin Resources Inc. lifted its position in Ero Copper by 38.3% during the 4th quarter. Franklin Resources Inc. now owns 308,073 shares of the company’s stock worth $4,148,000 after buying an additional 85,273 shares in the last quarter. National Bank of Canada FI lifted its position in Ero Copper by 15.4% during the 4th quarter. National Bank of Canada FI now owns 76,373 shares of the company’s stock worth $1,031,000 after buying an additional 10,190 shares in the last quarter. Geode Capital Management LLC lifted its position in Ero Copper by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 48,667 shares of the company’s stock worth $662,000 after buying an additional 1,727 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Ero Copper by 20.5% during the 4th quarter. Russell Investments Group Ltd. now owns 494,007 shares of the company’s stock worth $6,659,000 after buying an additional 83,952 shares in the last quarter. Institutional investors and hedge funds own 71.30% of the company’s stock.

Ero Copper Stock Performance

Shares of NYSE:ERO opened at $13.80 on Tuesday. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of 10.07 and a beta of 1.16. The firm’s 50 day simple moving average is $15.17 and its 200 day simple moving average is $13.59. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.05 and a quick ratio of 0.80. Ero Copper Corp. has a fifty-two week low of $9.30 and a fifty-two week high of $23.40.

Ero Copper (NYSE:ERO) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.13. The business had revenue of $163.50 million for the quarter, compared to the consensus estimate of $263.23 million. Ero Copper had a net margin of 26.63% and a return on equity of 17.96%. As a group, sell-side analysts forecast that Ero Copper Corp. will post 0.71 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ERO shares. Wall Street Zen cut shares of Ero Copper from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 12th. Scotiabank reissued an “outperform” rating on shares of Ero Copper in a research note on Tuesday, July 8th. National Bankshares downgraded shares of Ero Copper from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, July 8th. National Bank Financial downgraded shares of Ero Copper from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, July 9th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Ero Copper in a research note on Friday, July 4th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.50.

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.