Impala Asset Management LLC Has $27.39 Million Holdings in Ero Copper Corp. $ERO

Impala Asset Management LLC increased its stake in Ero Copper Corp. (NYSE:ERO) by 8.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,027,956 shares of the company’s stock after acquiring an additional 77,956 shares during the quarter. Ero Copper comprises 12.8% of Impala Asset Management LLC’s holdings, making the stock its 2nd largest holding. Impala Asset Management LLC owned about 0.99% of Ero Copper worth $27,392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. FIL Ltd increased its position in Ero Copper by 74.1% during the 4th quarter. FIL Ltd now owns 11,670,422 shares of the company’s stock valued at $330,161,000 after purchasing an additional 4,966,427 shares during the period. Hillsdale Investment Management Inc. boosted its stake in shares of Ero Copper by 602.9% in the 4th quarter. Hillsdale Investment Management Inc. now owns 1,685,445 shares of the company’s stock valued at $47,767,000 after purchasing an additional 1,445,645 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Ero Copper by 1,614.0% in the 3rd quarter. Vanguard Group Inc. now owns 1,434,428 shares of the company’s stock valued at $29,056,000 after purchasing an additional 1,350,738 shares during the last quarter. Bank of America Corp DE increased its position in shares of Ero Copper by 82.6% during the second quarter. Bank of America Corp DE now owns 1,775,632 shares of the company’s stock worth $29,919,000 after buying an additional 803,320 shares during the period. Finally, Cape Ann Asset Management Ltd increased its position in shares of Ero Copper by 65.9% during the fourth quarter. Cape Ann Asset Management Ltd now owns 1,717,643 shares of the company’s stock worth $48,592,000 after buying an additional 682,500 shares during the period. 71.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ERO shares. National Bank Financial upgraded shares of Ero Copper from a “sector perform” rating to an “outperform” rating in a report on Tuesday, May 5th. Bradesco Corretora upgraded Ero Copper to an “outperform” rating in a report on Monday. Wall Street Zen downgraded Ero Copper from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Bank of America upgraded Ero Copper from a “neutral” rating to a “buy” rating and upped their target price for the company from $30.00 to $34.00 in a research report on Thursday, July 16th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ero Copper in a research note on Thursday, June 4th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $32.33.

Ero Copper Price Performance

Shares of NYSE:ERO opened at $27.06 on Thursday. The company has a quick ratio of 0.81, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. Ero Copper Corp. has a twelve month low of $12.79 and a twelve month high of $39.80. The stock’s 50 day moving average is $27.42 and its 200-day moving average is $28.81. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of 9.63, a PEG ratio of 0.22 and a beta of 1.20.

Ero Copper (NYSE:ERO) last posted its quarterly 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. The business had revenue of $263.20 million during the quarter, compared to the consensus estimate of $245.51 million. Ero Copper had a net margin of 31.63% and a return on equity of 27.33%. Sell-side analysts forecast that Ero Copper Corp. will post 3.98 EPS for the current fiscal year.

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.