Ero Copper Corp. $ERO Holdings Boosted by Renaissance Technologies LLC

Renaissance Technologies LLC raised its position in shares of Ero Copper Corp. (NYSE:ERO) by 768.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 420,876 shares of the company’s stock after purchasing an additional 372,400 shares during the quarter. Renaissance Technologies LLC’s holdings in Ero Copper were worth $11,225,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Concurrent Investment Advisors LLC purchased a new stake in shares of Ero Copper in the fourth quarter worth approximately $1,142,000. Artemis Investment Management LLP purchased a new position in Ero Copper during the fourth quarter valued at approximately $14,363,000. Temasek Holdings Private Ltd grew its position in Ero Copper by 22.3% during the first quarter. Temasek Holdings Private Ltd now owns 579,162 shares of the company’s stock valued at $15,396,000 after purchasing an additional 105,502 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake 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 valued at $26,000,000 after buying an additional 955,487 shares during the period. Finally, Impala Asset Management LLC increased its stake in Ero Copper by 8.2% in the 1st quarter. Impala Asset Management LLC now owns 1,027,956 shares of the company’s stock valued at $27,392,000 after buying an additional 77,956 shares during the period. Institutional investors and hedge funds own 71.30% of the company’s stock.

Ero Copper Stock Performance

ERO stock opened at $26.88 on Friday. The firm has a 50 day moving average of $27.26 and a two-hundred day moving average of $28.66. Ero Copper Corp. has a 12 month low of $12.79 and a 12 month high of $39.80. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of 9.56, a P/E/G ratio of 0.21 and a beta of 1.20. 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 released its quarterly earnings results on Monday, May 4th. The company reported $0.69 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $245.51 million. As a group, equities analysts anticipate that Ero Copper Corp. will post 4.02 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Bradesco Corretora upgraded shares of Ero Copper to an “outperform” rating in a research report on Monday, July 20th. Wall Street Zen downgraded shares of 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 increased their price objective for the stock from $30.00 to $34.00 in a report on Thursday, July 16th. Scotiabank reissued an “outperform” rating on shares of Ero Copper in a research report on Monday, June 15th. Finally, National Bank Financial upgraded Ero Copper from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Ero Copper has an average rating of “Moderate Buy” and an average target price of $32.33.

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.