J. Safra Sarasin Holding AG Lowers Stake in Ero Copper Corp. $ERO

J. Safra Sarasin Holding AG lessened its position in shares of Ero Copper Corp. (NYSE:ERO) by 4.5% in the second quarter, Holdings Channel.com reports. The fund owned 23,181 shares of the company’s stock after selling 1,085 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Ero Copper were worth $391,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Acuitas Investments LLC purchased a new stake in Ero Copper during the first quarter valued at about $39,000. Northwest & Ethical Investments L.P. grew its position in Ero Copper by 22.6% during the first quarter. Northwest & Ethical Investments L.P. now owns 8,033 shares of the company’s stock valued at $97,000 after acquiring an additional 1,483 shares during the period. Letko Brosseau & Associates Inc. purchased a new stake in shares of Ero Copper in the first quarter worth about $176,000. Virtu Financial LLC purchased a new stake in shares of Ero Copper in the first quarter worth about $180,000. Finally, XTX Topco Ltd purchased a new stake in shares of Ero Copper in the first quarter worth about $188,000. Hedge funds and other institutional investors own 71.30% of the company’s stock.

Ero Copper Trading Up 2.6%

NYSE:ERO opened at $21.44 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.80 and a current ratio of 1.05. Ero Copper Corp. has a one year low of $9.30 and a one year high of $22.31. The business’s 50-day simple moving average is $15.60 and its 200 day simple moving average is $14.40. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of 15.65 and a beta of 1.24.

Ero Copper (NYSE:ERO) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.33 by $0.13. Ero Copper had a return on equity of 17.96% and a net margin of 26.63%.The business had revenue of $163.50 million for the quarter, compared to analysts’ expectations of $263.23 million. As a group, sell-side analysts predict that Ero Copper Corp. will post 0.71 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. BMO Capital Markets reaffirmed an “outperform” rating on shares of Ero Copper in a research report on Friday, July 4th. Stifel Nicolaus assumed coverage on Ero Copper in a research report on Wednesday, July 9th. They issued a “buy” rating for the company. National Bankshares reaffirmed a “sector perform” rating on shares of Ero Copper in a research report on Tuesday, August 5th. Scotiabank reaffirmed an “outperform” rating on shares of Ero Copper in a research report on Tuesday, July 8th. Finally, National Bank Financial downgraded Ero Copper from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, July 9th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $19.00.

About Ero Copper

Ero Copper Corp. engages in the exploration, development, and production of mining projects in Brazil. The company is involved in the production and sale of copper concentrate from the Caraíba operations located in the Curaçá Valley, northeastern Bahia state, Brazil, as well as gold and silver by-products.