GMT Capital Corp Has $127.04 Million Stake in Ero Copper Corp. $ERO

GMT Capital Corp cut its holdings in shares of Ero Copper Corp. (NYSE:ERO) by 31.3% in the 4th quarter, HoldingsChannel reports. The fund owned 4,472,154 shares of the company’s stock after selling 2,037,300 shares during the period. Ero Copper makes up approximately 6.6% of GMT Capital Corp’s investment portfolio, making the stock its 3rd biggest holding. GMT Capital Corp’s holdings in Ero Copper were worth $127,044,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Barclays PLC increased its position in shares of Ero Copper by 1,243.1% during the fourth quarter. Barclays PLC now owns 7,508 shares of the company’s stock worth $212,000 after acquiring an additional 6,949 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Ero Copper during the fourth quarter worth about $56,000. Global Strategic Management Inc. bought a new stake in shares of Ero Copper during the fourth quarter worth about $527,000. Charles Schwab Investment Management Inc. increased its position in shares of Ero Copper by 43.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 195,774 shares of the company’s stock worth $5,546,000 after acquiring an additional 59,673 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Ero Copper by 4,939.2% during the fourth quarter. Wells Fargo & Company MN now owns 47,872 shares of the company’s stock worth $1,354,000 after acquiring an additional 46,922 shares in the last quarter. 71.30% of the stock is owned by institutional investors.

Ero Copper Trading Up 6.1%

Shares of ERO stock opened at $29.39 on Friday. Ero Copper Corp. has a 52-week low of $12.79 and a 52-week high of $39.80. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.81 and a current ratio of 1.30. The company has a 50-day simple moving average of $28.44 and a two-hundred day simple moving average of $28.61. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of 10.46 and a beta of 1.17.

Ero Copper (NYSE:ERO) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.13. Ero Copper had a net margin of 31.63% and a return on equity of 27.33%. The business had revenue of $263.20 million during the quarter, compared to the consensus estimate of $245.51 million. Research analysts anticipate that Ero Copper Corp. will post 3.92 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on ERO. 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. The Goldman Sachs Group downgraded shares of Ero Copper from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $33.00 to $31.00 in a research report on Tuesday, April 14th. Weiss Ratings reissued a “hold (c+)” rating on shares of Ero Copper in a research report on Thursday, June 4th. Finally, Wall Street Zen downgraded shares of Ero Copper from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.50.

Ero Copper 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.