Citigroup Inc. Buys 84,868 Shares of Ero Copper Corp. $ERO

Citigroup Inc. grew its stake in Ero Copper Corp. (NYSE:ERO) by 2,198.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 88,729 shares of the company’s stock after buying an additional 84,868 shares during the period. Citigroup Inc. owned approximately 0.09% of Ero Copper worth $1,798,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ERO. Versor Investments LP bought a new position in shares of Ero Copper in the 3rd quarter valued at approximately $217,000. Olympiad Research LP bought a new stake in Ero Copper during the third quarter worth approximately $248,000. Rathbones Group PLC boosted its position in Ero Copper by 19.3% during the second quarter. Rathbones Group PLC now owns 15,903 shares of the company’s stock worth $268,000 after purchasing an additional 2,570 shares during the period. TD Waterhouse Canada Inc. grew its holdings in Ero Copper by 75.2% during the third quarter. TD Waterhouse Canada Inc. now owns 17,472 shares of the company’s stock valued at $360,000 after purchasing an additional 7,500 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Ero Copper during the first quarter valued at approximately $217,000. Institutional investors own 71.30% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on ERO shares. Loop Capital set a $32.00 price objective on shares of Ero Copper in a research note on Tuesday, December 30th. ATB Cormark Capital Markets upgraded shares of Ero Copper to a “moderate buy” rating in a research note on Friday, February 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Ero Copper in a report on Monday, December 29th. Raymond James Financial cut shares of Ero Copper from a “moderate buy” rating to a “hold” rating in a report on Monday, February 9th. Finally, The Goldman Sachs Group raised their price target on Ero Copper from $25.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, January 14th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.50.

Ero Copper Stock Down 4.2%

ERO opened at $27.71 on Monday. The business has a 50 day moving average of $31.33 and a 200-day moving average of $24.61. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of 10.91 and a beta of 1.17. The company has a current ratio of 0.82, a quick ratio of 0.46 and a debt-to-equity ratio of 0.64. Ero Copper Corp. has a 1-year low of $9.30 and a 1-year high of $39.80.

Ero Copper (NYSE:ERO) last released its earnings results on Thursday, March 5th. The company reported $1.04 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.02). The company had revenue of $320.20 million for the quarter, compared to analyst estimates of $430.46 million. Ero Copper had a net margin of 33.56% and a return on equity of 27.09%. As a group, sell-side analysts anticipate that Ero Copper Corp. will post 0.71 earnings per share for the current year.

Ero Copper Profile

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.