Canoe Financial LP Decreases Holdings in Ero Copper Corp. (NYSE:ERO)

Canoe Financial LP decreased its position in shares of Ero Copper Corp. (NYSE:ERO) by 6.5% in the first quarter, HoldingsChannel reports. The fund owned 31,656 shares of the company’s stock after selling 2,215 shares during the quarter. Canoe Financial LP’s holdings in Ero Copper were worth $383,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ERO. State of Wyoming purchased a new stake in Ero Copper during the fourth quarter valued at approximately $76,000. Northwest & Ethical Investments L.P. lifted its position in Ero Copper by 19.1% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 6,550 shares of the company’s stock valued at $88,000 after acquiring an additional 1,050 shares during the last quarter. TD Waterhouse Canada Inc. lifted its position in Ero Copper by 128.4% during the fourth quarter. TD Waterhouse Canada Inc. now owns 10,672 shares of the company’s stock valued at $143,000 after acquiring an additional 6,000 shares during the last quarter. Deutsche Bank AG lifted its position in Ero Copper by 59.5% during the fourth quarter. Deutsche Bank AG now owns 10,700 shares of the company’s stock valued at $144,000 after acquiring an additional 3,990 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in Ero Copper during the fourth quarter valued at approximately $146,000. Hedge funds and other institutional investors own 71.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ERO shares. Desjardins started coverage on shares of Ero Copper in a research report on Friday, April 4th. They set a “hold” rating for the company. National Bank Financial upgraded shares of Ero Copper from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 6th. National Bankshares upgraded shares of Ero Copper from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, May 6th. TD Securities restated a “buy” rating on shares of Ero Copper in a research note on Wednesday, May 7th. Finally, Raymond James Financial restated an “outperform” rating on shares of Ero Copper in a research note on Friday, April 4th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Ero Copper presently has a consensus rating of “Buy” and a consensus price target of $26.33.

Ero Copper Trading Down 2.0%

Shares of Ero Copper stock opened at $15.27 on Friday. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of 89.84 and a beta of 1.13. Ero Copper Corp. has a 12-month low of $9.30 and a 12-month high of $23.40. The firm’s 50 day simple moving average is $13.66 and its two-hundred day simple moving average is $13.32. The company has a current ratio of 1.05, a quick ratio of 0.80 and a debt-to-equity ratio of 0.83.

Ero Copper (NYSE:ERO) last released its quarterly earnings data on Monday, May 5th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.18. The firm had revenue of $125.10 million for the quarter, compared to analyst estimates of $179.45 million. Ero Copper had a net margin of 3.87% and a return on equity of 14.24%. Analysts predict that Ero Copper Corp. will post 0.71 EPS for the current year.

Ero Copper 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.