Capstone Investment Advisors LLC Takes Position in Ero Copper Corp. $ERO

Capstone Investment Advisors LLC purchased a new position in Ero Copper Corp. (NYSE:ERO) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 13,999 shares of the company’s stock, valued at approximately $374,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Royal Bank of Canada boosted its stake in shares of Ero Copper by 123.7% during the 1st quarter. Royal Bank of Canada now owns 354,638 shares of the company’s stock worth $9,459,000 after acquiring an additional 196,101 shares in the last quarter. Cape Ann Asset Management Ltd raised its stake in shares of Ero Copper by 13.5% in the 1st quarter. Cape Ann Asset Management Ltd now owns 1,949,128 shares of the company’s stock valued at $51,983,000 after acquiring an additional 231,485 shares in the last quarter. Artemis Investment Management LLP bought a new position in shares of Ero Copper in the 4th quarter valued at approximately $14,363,000. Temasek Holdings Private Ltd lifted its holdings in Ero Copper by 22.3% in the 1st quarter. Temasek Holdings Private Ltd now owns 579,162 shares of the company’s stock worth $15,396,000 after purchasing an additional 105,502 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Ero Copper by 4,913.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 974,932 shares of the company’s stock worth $26,000,000 after purchasing an additional 955,487 shares during the last quarter. 71.30% of the stock is currently owned by hedge funds and other institutional investors.

Ero Copper Stock Down 2.4%

Shares of ERO stock opened at $38.88 on Friday. Ero Copper Corp. has a 12 month low of $13.91 and a 12 month high of $40.83. The firm has a market cap of $4.06 billion, a PE ratio of 13.05, a price-to-earnings-growth ratio of 0.31 and a beta of 1.21. The stock has a 50 day moving average of $29.70 and a 200-day moving average of $29.02. 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 (NYSE:ERO) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.09. The company had revenue of $284.30 million during the quarter, compared to analysts’ expectations of $277.64 million. Ero Copper had a return on equity of 30.32% and a net margin of 29.79%. On average, equities analysts predict that Ero Copper Corp. will post 3.98 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ERO. Zacks Research downgraded Ero Copper from a “hold” rating to a “strong sell” rating in a report on Monday, August 17th. National Bank Financial upgraded shares of Ero Copper from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, May 5th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Ero Copper in a report on Monday, July 6th. Bank of America upgraded shares of Ero Copper from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $30.00 to $34.00 in a report on Thursday, July 16th. Finally, Wall Street Zen cut shares of Ero Copper from a “buy” rating to a “hold” rating in a report on Saturday. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Ero Copper presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.33.

Ero Copper Company Profile

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.