Hillsdale Investment Management Inc. Purchases 1,445,645 Shares of Ero Copper Corp. $ERO

Hillsdale Investment Management Inc. increased its position in Ero Copper Corp. (NYSE:ERO) by 602.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,685,445 shares of the company’s stock after buying an additional 1,445,645 shares during the quarter. Ero Copper accounts for 1.3% of Hillsdale Investment Management Inc.’s portfolio, making the stock its 12th largest position. Hillsdale Investment Management Inc. owned about 1.62% of Ero Copper worth $47,767,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Kingsview Wealth Management LLC bought a new stake in Ero Copper in the 4th quarter worth approximately $363,000. Geode Capital Management LLC lifted its position in Ero Copper by 17.9% in the fourth quarter. Geode Capital Management LLC now owns 68,394 shares of the company’s stock valued at $1,979,000 after purchasing an additional 10,405 shares during the last quarter. Banque Cantonale Vaudoise boosted its stake in shares of Ero Copper by 36.4% during the fourth quarter. Banque Cantonale Vaudoise now owns 7,500 shares of the company’s stock valued at $212,000 after purchasing an additional 2,000 shares during the period. HighTower Advisors LLC boosted its stake in shares of Ero Copper by 26.7% during the fourth quarter. HighTower Advisors LLC now owns 36,058 shares of the company’s stock valued at $1,020,000 after purchasing an additional 7,607 shares during the period. Finally, Artemis Investment Management LLP purchased a new stake in shares of Ero Copper during the fourth quarter valued at approximately $14,363,000. Institutional investors own 71.30% of the company’s stock.

Ero Copper Price Performance

ERO opened at $30.58 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.46 and a current ratio of 0.82. Ero Copper Corp. has a 52-week low of $12.79 and a 52-week high of $39.80. The stock has a market capitalization of $3.19 billion, a PE ratio of 10.88 and a beta of 1.13. The stock’s 50 day moving average price is $27.73 and its 200-day moving average price is $28.13.

Ero Copper (NYSE:ERO) last posted its earnings results on Monday, May 4th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.13. Ero Copper had a return on equity of 29.86% and a net margin of 31.63%.The firm had revenue of $263.20 million for the quarter, compared to analysts’ expectations of $245.51 million. On average, equities research analysts predict that Ero Copper Corp. will post 3.9 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. The Goldman Sachs Group lowered Ero Copper from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $33.00 to $31.00 in a research note on Tuesday, April 14th. ATB Cormark Capital Markets raised Ero Copper to a “moderate buy” rating in a research note on Friday, February 6th. Bank of America lowered Ero Copper from a “buy” rating to a “neutral” rating in a research note on Monday, February 9th. National Bank Financial raised Ero Copper from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, May 5th. Finally, Raymond James Financial lowered Ero Copper from a “moderate buy” rating to a “hold” rating in a research note on Monday, February 9th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $31.50.

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.