Ero Copper Corp. $ERO Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio cut its stake in shares of Ero Copper Corp. (NYSE:ERO) by 10.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,557 shares of the company’s stock after selling 3,756 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Ero Copper were worth $532,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ERO. Acuitas Investments LLC purchased a new position in Ero Copper during the 1st quarter worth $39,000. Northwest & Ethical Investments L.P. increased its stake in shares of Ero Copper by 22.6% during the first quarter. Northwest & Ethical Investments L.P. now owns 8,033 shares of the company’s stock worth $97,000 after acquiring an additional 1,483 shares during the period. Letko Brosseau & Associates Inc. purchased a new position in Ero Copper during the first quarter worth about $176,000. Virtu Financial LLC purchased a new position in Ero Copper during the first quarter worth about $180,000. Finally, XTX Topco Ltd acquired a new stake in Ero Copper in the first quarter valued at about $188,000. 71.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ERO shares. Scotiabank reiterated an “outperform” rating on shares of Ero Copper in a research report on Tuesday, July 8th. Stifel Canada upgraded Ero Copper to a “strong-buy” rating in a research note on Tuesday, July 8th. National Bankshares reiterated a “sector perform” rating on shares of Ero Copper in a research report on Tuesday, August 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Ero Copper in a report on Saturday, September 27th. Finally, Zacks Research raised shares of Ero Copper from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $19.00.

Ero Copper Trading Up 2.6%

Shares of Ero Copper stock opened at $21.44 on Monday. 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 1 year low of $9.30 and a 1 year high of $22.31. The company has a market capitalization of $2.22 billion, a P/E ratio of 15.65 and a beta of 1.24. The business has a 50 day moving average price of $15.60 and a 200 day moving average price of $14.40.

Ero Copper (NYSE:ERO) last announced its earnings results on Thursday, July 31st. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.13. Ero Copper had a return on equity of 17.96% and a net margin of 26.63%.The firm had revenue of $163.50 million for the quarter, compared to analysts’ expectations of $263.23 million. Sell-side analysts anticipate 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.