Russell Investments Group Ltd. Has $3.42 Million Stake in Ero Copper Corp. $ERO

Russell Investments Group Ltd. trimmed its position in Ero Copper Corp. (NYSE:ERO) by 42.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 282,058 shares of the company’s stock after selling 211,949 shares during the period. Russell Investments Group Ltd. owned approximately 0.27% of Ero Copper worth $3,419,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Acuitas Investments LLC bought a new stake in Ero Copper in the 1st quarter valued at approximately $39,000. State of Wyoming bought a new stake in shares of Ero Copper in the fourth quarter worth $76,000. TD Waterhouse Canada Inc. boosted its holdings in Ero Copper by 128.4% during the fourth quarter. TD Waterhouse Canada Inc. now owns 10,672 shares of the company’s stock worth $143,000 after purchasing an additional 6,000 shares during the last quarter. Deutsche Bank AG grew its position in Ero Copper by 59.5% in the fourth quarter. Deutsche Bank AG now owns 10,700 shares of the company’s stock valued at $144,000 after purchasing an additional 3,990 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in Ero Copper in the 4th quarter valued at $146,000. 71.30% of the stock is currently owned by institutional investors.

Ero Copper Stock Performance

Shares of NYSE ERO opened at $14.3850 on Friday. The company has a current ratio of 1.05, a quick ratio of 0.80 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $1.49 billion, a P/E ratio of 10.50 and a beta of 1.16. Ero Copper Corp. has a 12 month low of $9.30 and a 12 month high of $23.40. The stock has a 50 day moving average of $14.81 and a 200-day moving average of $13.59.

Ero Copper (NYSE:ERO) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.13. Ero Copper had a net margin of 26.63% and a return on equity of 17.96%. The firm had revenue of $163.50 million during the quarter, compared to analysts’ expectations of $263.23 million. As a group, equities research analysts predict that Ero Copper Corp. will post 0.71 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ERO shares. Wall Street Zen downgraded shares of Ero Copper from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Stifel Canada raised Ero Copper to a “strong-buy” rating in a research report on Tuesday, July 8th. Stifel Nicolaus began coverage on Ero Copper in a research note on Wednesday, July 9th. They set a “buy” rating on the stock. BMO Capital Markets reissued an “outperform” rating on shares of Ero Copper in a research note on Friday, July 4th. Finally, National Bank Financial downgraded shares of Ero Copper from an “outperform” rating to a “sector perform” rating in a report on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.50.

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.