Ero Copper Corp. $ERO is Impala Asset Management LLC’s 2nd Largest Position

Impala Asset Management LLC grew its stake in Ero Copper Corp. (NYSE:ERO) by 8.2% during the first quarter, Holdings Channel reports. The firm owned 1,027,956 shares of the company’s stock after purchasing an additional 77,956 shares during the period. Ero Copper makes up approximately 12.8% of Impala Asset Management LLC’s portfolio, making the stock its 2nd largest position. Impala Asset Management LLC’s holdings in Ero Copper were worth $27,392,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. FNY Investment Advisers LLC bought a new stake in Ero Copper during the fourth quarter worth $25,000. Caitong International Asset Management Co. Ltd purchased a new position in Ero Copper during the 4th quarter worth $38,000. Kestra Advisory Services LLC purchased a new position in Ero Copper during the 4th quarter worth $56,000. Banque Cantonale Vaudoise bought a new stake in shares of Ero Copper in the 3rd quarter worth $111,000. Finally, SG Americas Securities LLC bought a new stake in shares of Ero Copper in the 4th quarter worth $115,000. Hedge funds and other institutional investors own 71.30% of the company’s stock.

Ero Copper Trading Up 0.7%

NYSE ERO opened at $27.06 on Thursday. The stock 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 Corp. has a one year low of $12.79 and a one year high of $39.80. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 0.81. The business’s fifty day moving average is $27.42 and its 200-day moving average is $28.81.

Ero Copper (NYSE:ERO) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.13. The company had revenue of $263.20 million during the quarter, compared to analyst estimates of $245.51 million. Ero Copper had a net margin of 31.63% and a return on equity of 27.33%. Equities research analysts predict that Ero Copper Corp. will post 3.98 EPS for the current year.

Analysts Set New Price Targets

ERO has been the subject of several analyst reports. The Goldman Sachs Group downgraded shares of Ero Copper from a “buy” rating to a “neutral” rating and lowered their target price for the company from $33.00 to $31.00 in a report on Tuesday, April 14th. Jefferies Financial Group restated a “hold” rating on shares of Ero Copper in a report on Monday, July 6th. Scotiabank reaffirmed an “outperform” rating on shares of Ero Copper in a research report on Monday, June 15th. Bank of America upgraded shares of Ero Copper from a “neutral” rating to a “buy” rating and increased their price objective for the company from $30.00 to $34.00 in a research note on Thursday, July 16th. 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 investment 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. According to data from MarketBeat.com, Ero Copper has an average 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.