UBS Group AG Decreases Position in Ero Copper Corp. $ERO

UBS Group AG lessened its holdings in Ero Copper Corp. (NYSE:ERO) by 59.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 128,501 shares of the company’s stock after selling 184,684 shares during the period. UBS Group AG owned approximately 0.12% of Ero Copper worth $3,635,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Invesco Ltd. boosted its position in Ero Copper by 24.8% in the 3rd quarter. Invesco Ltd. now owns 2,553,915 shares of the company’s stock valued at $51,666,000 after buying an additional 507,217 shares during the period. Vanguard Group Inc. boosted its position in Ero Copper by 77.6% in the 4th quarter. Vanguard Group Inc. now owns 2,546,856 shares of the company’s stock valued at $72,051,000 after buying an additional 1,112,428 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Ero Copper by 11.1% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,507,087 shares of the company’s stock valued at $50,794,000 after buying an additional 250,303 shares during the period. Bank of America Corp DE boosted its position in Ero Copper by 82.6% in the 2nd quarter. Bank of America Corp DE now owns 1,775,632 shares of the company’s stock valued at $29,919,000 after buying an additional 803,320 shares during the period. Finally, Impala Asset Management LLC boosted its position in Ero Copper by 0.5% in the 3rd quarter. Impala Asset Management LLC now owns 1,707,400 shares of the company’s stock valued at $31,634,000 after buying an additional 8,300 shares during the period. Hedge funds and other institutional investors own 71.30% of the company’s stock.

Ero Copper Price Performance

Shares of NYSE:ERO opened at $27.00 on Friday. The company’s fifty day moving average price is $27.48 and its 200 day moving average price is $27.85. Ero Copper Corp. has a 12 month low of $12.79 and a 12 month high of $39.80. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.82 and a quick ratio of 0.46. The firm has a market capitalization of $2.82 billion, a P/E ratio of 9.61 and a beta of 1.13.

Ero Copper (NYSE:ERO) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.56 by $0.13. Ero Copper had a net margin of 31.63% and a return on equity of 29.86%. The firm had revenue of $263.20 million for the quarter, compared to analyst estimates of $245.51 million. As a group, sell-side analysts predict that Ero Copper Corp. will post 3.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ERO shares. Scotiabank reissued an “outperform” rating on shares of Ero Copper in a research report on Monday, January 26th. Zacks Research cut shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 12th. National Bank Financial raised shares of Ero Copper from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, May 5th. Bank of America cut shares of Ero Copper from a “buy” rating to a “neutral” rating in a research report on Monday, February 9th. Finally, The Goldman Sachs Group cut shares of Ero Copper from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $33.00 to $31.00 in a research report on Tuesday, April 14th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Ero Copper presently has a consensus 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.