CenterBook Partners LP Cuts Holdings in Ero Copper Corp. $ERO

CenterBook Partners LP trimmed its position in Ero Copper Corp. (NYSE:ERO) by 16.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 107,742 shares of the company’s stock after selling 21,353 shares during the period. CenterBook Partners LP owned about 0.10% of Ero Copper worth $2,180,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Ero Copper by 1,614.0% in the 3rd quarter. Vanguard Group Inc. now owns 1,434,428 shares of the company’s stock worth $29,056,000 after buying an additional 1,350,738 shares during the last quarter. Cibc World Market Inc. lifted its holdings in Ero Copper by 108.9% during the third quarter. Cibc World Market Inc. now owns 50,599 shares of the company’s stock worth $1,025,000 after acquiring an additional 26,381 shares during the period. Versor Investments LP purchased a new position in Ero Copper in the third quarter worth $217,000. Alps Advisors Inc. boosted its position in Ero Copper by 20.8% in the third quarter. Alps Advisors Inc. now owns 30,274 shares of the company’s stock worth $612,000 after purchasing an additional 5,222 shares during the last quarter. Finally, Old West Investment Management LLC bought a new position in Ero Copper in the 3rd quarter valued at $493,000. Institutional investors own 71.30% of the company’s stock.

Ero Copper Price Performance

Shares of NYSE ERO opened at $29.66 on Friday. Ero Copper Corp. has a fifty-two week low of $9.30 and a fifty-two week high of $39.80. The stock has a fifty day moving average of $30.11 and a 200-day moving average of $23.08. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.46 and a current ratio of 0.82. The stock has a market cap of $3.09 billion, a PE ratio of 22.30 and a beta of 1.20.

Analyst Ratings Changes

A number of brokerages recently weighed in on ERO. Scotiabank reissued an “outperform” rating on shares of Ero Copper in a report on Monday, January 26th. Raymond James Financial cut shares of Ero Copper from a “moderate buy” rating to a “hold” rating in a research note on Monday, February 9th. Ventum Financial raised shares of Ero Copper to a “strong-buy” rating in a research report on Monday, November 3rd. Zacks Research cut shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 12th. Finally, Bank of America downgraded Ero Copper from a “buy” rating to a “neutral” rating in a research note on Monday, February 9th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $32.50.

About Ero Copper

Ero Copper Corp (NYSE: ERO) is a Canada-based natural resource company focused on the production of copper concentrate from its Brazilian operations. The company’s flagship asset is the Vale do Curaçá mining complex in the state of Bahia, which includes multiple underground mines and a centralized processing facility. Ero Copper’s primary product is copper concentrate, which is sold to smelters and end users around the world.

The Vale do Curaçá complex comprises the Pilar and Surubim underground mines, supported by a fully integrated processing plant.