Letko Brosseau & Associates Inc. Purchases Shares of 14,500 Ero Copper Corp. (NYSE:ERO)

Letko Brosseau & Associates Inc. acquired a new position in shares of Ero Copper Corp. (NYSE:ERO) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 14,500 shares of the company’s stock, valued at approximately $176,000.

A number of other large investors have also modified their holdings of the stock. Acuitas Investments LLC purchased a new position in Ero Copper in the first quarter valued at $39,000. State of Wyoming purchased a new position in shares of Ero Copper in the 4th quarter valued at about $76,000. TD Waterhouse Canada Inc. grew its position in shares of Ero Copper by 128.4% during the fourth quarter. TD Waterhouse Canada Inc. now owns 10,672 shares of the company’s stock worth $143,000 after buying an additional 6,000 shares in the last quarter. Deutsche Bank AG increased its stake in shares of Ero Copper by 59.5% during the fourth quarter. Deutsche Bank AG now owns 10,700 shares of the company’s stock worth $144,000 after buying an additional 3,990 shares during the period. Finally, BNP Paribas Financial Markets acquired a new stake in Ero Copper in the fourth quarter valued at approximately $146,000. Hedge funds and other institutional investors own 71.30% of the company’s stock.

Ero Copper Price Performance

Shares of NYSE:ERO opened at $13.69 on Wednesday. Ero Copper Corp. has a 12 month low of $9.30 and a 12 month high of $23.40. The firm has a market capitalization of $1.42 billion, a P/E ratio of 80.55 and a beta of 1.18. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.05 and a quick ratio of 0.80. The company’s fifty day moving average price is $15.21 and its 200 day moving average price is $13.61.

Ero Copper (NYSE:ERO) last posted its earnings results on Monday, May 5th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.18. The business had revenue of $125.10 million for the quarter, compared to analysts’ expectations of $179.45 million. Ero Copper had a return on equity of 14.24% and a net margin of 3.87%. As a group, sell-side analysts predict that Ero Copper Corp. will post 0.71 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on ERO. BMO Capital Markets reiterated an “outperform” rating on shares of Ero Copper in a report on Friday, July 4th. TD Securities reissued a “buy” rating on shares of Ero Copper in a report on Wednesday, May 7th. National Bank Financial cut Ero Copper from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, July 9th. Desjardins initiated coverage on Ero Copper in a research report on Friday, April 4th. They set a “hold” rating for the company. Finally, Stifel Nicolaus initiated coverage on Ero Copper in a research report on Wednesday, July 9th. They set a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Ero Copper currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.50.

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.