Ero Copper Corp. (NYSE:ERO) Stake Cut by GMT Capital Corp

GMT Capital Corp lessened its holdings in shares of Ero Copper Corp. (NYSE:ERO - Free Report) by 8.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,638,925 shares of the company's stock after selling 494,942 shares during the period. Ero Copper makes up about 3.7% of GMT Capital Corp's portfolio, making the stock its 10th biggest holding. GMT Capital Corp owned about 5.45% of Ero Copper worth $75,986,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ERO. Jennison Associates LLC increased its stake in Ero Copper by 3.5% during the 4th quarter. Jennison Associates LLC now owns 5,909,627 shares of the company's stock valued at $79,645,000 after purchasing an additional 198,800 shares in the last quarter. Invesco Ltd. grew its stake in Ero Copper by 22.6% during the 4th quarter. Invesco Ltd. now owns 3,890,977 shares of the company's stock valued at $52,450,000 after purchasing an additional 715,999 shares during the last quarter. Boston Partners increased its holdings in shares of Ero Copper by 66.9% in the fourth quarter. Boston Partners now owns 1,101,265 shares of the company's stock valued at $14,850,000 after purchasing an additional 441,413 shares during the period. Bridgewater Associates LP raised its stake in shares of Ero Copper by 400.2% in the fourth quarter. Bridgewater Associates LP now owns 818,269 shares of the company's stock worth $11,026,000 after purchasing an additional 654,684 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. lifted its holdings in shares of Ero Copper by 3.9% during the fourth quarter. Montrusco Bolton Investments Inc. now owns 775,356 shares of the company's stock worth $10,448,000 after purchasing an additional 28,999 shares during the period. Institutional investors and hedge funds own 71.30% of the company's stock.

Ero Copper Price Performance

NYSE:ERO opened at $11.22 on Wednesday. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 0.71. Ero Copper Corp. has a 52 week low of $9.30 and a 52 week high of $24.34. The stock's 50-day moving average price is $12.14 and its 200-day moving average price is $14.40. The stock has a market capitalization of $1.16 billion, a PE ratio of 65.97 and a beta of 1.10.

Ero Copper (NYSE:ERO - Get Free Report) last posted its quarterly earnings data on Thursday, March 6th. The company reported $0.17 EPS for the quarter, missing analysts' consensus estimates of $0.21 by ($0.04). Ero Copper had a net margin of 3.67% and a return on equity of 11.30%. The business had revenue of $122.50 million during the quarter, compared to analysts' expectations of $183.26 million. As a group, equities analysts expect that Ero Copper Corp. will post 0.71 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ERO shares. Raymond James reiterated an "outperform" rating on shares of Ero Copper in a report on Friday, April 4th. TD Securities upgraded shares of Ero Copper from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 12th. Desjardins assumed coverage on Ero Copper in a research report on Friday, April 4th. They set a "hold" rating on the stock. TD Cowen upgraded Ero Copper from a "hold" rating to a "buy" rating in a research note on Wednesday, February 12th. Finally, BMO Capital Markets initiated coverage on Ero Copper in a report on Wednesday, April 16th. They set an "outperform" rating on the stock. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $26.33.

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.

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