JPMorgan Chase & Co. Sells 175,407 Shares of Ero Copper Corp. (NYSE:ERO)

JPMorgan Chase & Co. lowered its position in Ero Copper Corp. (NYSE:ERO - Free Report) by 96.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,640 shares of the company's stock after selling 175,407 shares during the period. JPMorgan Chase & Co.'s holdings in Ero Copper were worth $126,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Exchange Traded Concepts LLC bought a new stake in shares of Ero Copper during the third quarter valued at approximately $38,000. Sentry Investment Management LLC bought a new stake in shares of Ero Copper in the 3rd quarter worth $457,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Ero Copper by 6.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,408 shares of the company's stock worth $522,000 after purchasing an additional 1,475 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Ero Copper by 23.9% in the third quarter. Janus Henderson Group PLC now owns 27,408 shares of the company's stock worth $600,000 after purchasing an additional 5,286 shares during the last quarter. Finally, Itau Unibanco Holding S.A. purchased a new stake in shares of Ero Copper during the third quarter valued at $611,000. Hedge funds and other institutional investors own 71.30% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on ERO. The Goldman Sachs Group assumed coverage on shares of Ero Copper in a research note on Monday, December 2nd. They set a "buy" rating and a $19.00 target price on the stock. StockNews.com upgraded shares of Ero Copper from a "sell" rating to a "hold" rating in a report on Friday, October 25th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $26.33.

Ero Copper Stock Performance

Shares of ERO stock traded down $0.40 during mid-day trading on Thursday, reaching $13.18. 622,637 shares of the company's stock traded hands, compared to its average volume of 412,510. Ero Copper Corp. has a 12 month low of $12.78 and a 12 month high of $24.34. The firm has a 50 day moving average price of $13.97 and a two-hundred day moving average price of $17.46. The firm has a market capitalization of $1.37 billion, a PE ratio of 77.55 and a beta of 1.14. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.45 and a current ratio of 0.68.

Ero Copper (NYSE:ERO - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.27 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.05. Ero Copper had a return on equity of 11.30% and a net margin of 3.67%. The business had revenue of $124.80 million during the quarter, compared to analysts' expectations of $148.80 million. During the same quarter in the prior year, the business posted $0.18 earnings per share. On average, research analysts forecast that Ero Copper Corp. will post 0.92 EPS for the current year.

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.