Ero Copper Corp. (NYSE:ERO) Shares Bought by 683 Capital Management LLC

683 Capital Management LLC lifted its position in Ero Copper Corp. (NYSE:ERO) by 20.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,468,367 shares of the company’s stock after buying an additional 418,367 shares during the period. Ero Copper comprises 2.1% of 683 Capital Management LLC’s holdings, making the stock its 7th largest position. 683 Capital Management LLC owned 2.38% of Ero Copper worth $33,272,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in Ero Copper in the 4th quarter valued at about $991,000. Jennison Associates LLC grew its holdings in Ero Copper by 3.5% during the 4th quarter. Jennison Associates LLC now owns 5,909,627 shares of the company’s stock worth $79,645,000 after acquiring an additional 198,800 shares during the period. Canoe Financial LP bought a new position in Ero Copper during the fourth quarter worth $456,000. Montrusco Bolton Investments Inc. increased 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 valued at $10,448,000 after acquiring an additional 28,999 shares in the last quarter. Finally, Sprott Inc. lifted its position in Ero Copper by 42.2% in the 4th quarter. Sprott Inc. now owns 455,289 shares of the company’s stock valued at $6,137,000 after acquiring an additional 135,049 shares in the last quarter. 71.30% of the stock is owned by institutional investors.

Ero Copper Price Performance

Shares of ERO stock opened at $12.58 on Friday. Ero Copper Corp. has a 1-year low of $9.30 and a 1-year high of $24.34. The company has a market cap of $1.30 billion, a P/E ratio of 74.00 and a beta of 1.10. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.68 and a quick ratio of 0.45. The stock’s 50-day moving average is $11.97 and its 200 day moving average is $14.05.

Ero Copper (NYSE:ERO) last posted its quarterly earnings data on Thursday, March 6th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.04). Ero Copper had a return on equity of 11.30% and a net margin of 3.67%. The firm had revenue of $122.50 million during the quarter, compared to analyst estimates of $183.26 million. Research analysts predict that Ero Copper Corp. will post 0.71 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Raymond James reaffirmed an “outperform” rating on shares of Ero Copper in a research report on Friday, April 4th. TD Cowen upgraded shares of Ero Copper from a “hold” rating to a “buy” rating in a research report on Wednesday, February 12th. BMO Capital Markets initiated coverage on shares of Ero Copper in a report on Wednesday, April 16th. They issued an “outperform” rating on the stock. Desjardins started coverage on Ero Copper in a report on Friday, April 4th. They issued a “hold” rating on the stock. Finally, TD Securities raised Ero Copper from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target 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.