Sheets Smith Wealth Management Invests $417,000 in Ero Copper Corp. $ERO

Sheets Smith Wealth Management purchased a new stake in shares of Ero Copper Corp. (NYSE:ERO) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 20,614 shares of the company’s stock, valued at approximately $417,000.

Other large investors have also recently added to or reduced their stakes in the company. Rathbones Group PLC boosted its holdings in Ero Copper by 19.3% in the second quarter. Rathbones Group PLC now owns 15,903 shares of the company’s stock worth $268,000 after purchasing an additional 2,570 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Ero Copper in the 1st quarter worth about $217,000. Bluefin Capital Management LLC bought a new position in shares of Ero Copper in the 2nd quarter worth about $304,000. Northwest & Ethical Investments L.P. boosted its holdings in shares of Ero Copper by 130.3% in the 2nd quarter. Northwest & Ethical Investments L.P. now owns 18,499 shares of the company’s stock valued at $312,000 after buying an additional 10,466 shares during the period. Finally, Man Group plc bought a new stake in shares of Ero Copper during the 2nd quarter valued at about $365,000. 71.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ERO shares. The Goldman Sachs Group raised their target price on shares of Ero Copper from $18.50 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. TD Cowen reiterated a “hold” rating on shares of Ero Copper in a research report on Tuesday, October 21st. Scotiabank raised Ero Copper from a “hold” rating to an “outperform” rating in a report on Thursday, November 6th. Cibc World Mkts lowered Ero Copper from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Finally, Wall Street Zen upgraded Ero Copper from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $25.00.

Ero Copper Stock Performance

ERO opened at $28.02 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.46 and a debt-to-equity ratio of 0.64. The business’s 50 day moving average is $23.37 and its 200-day moving average is $18.76. The stock has a market cap of $2.91 billion, a PE ratio of 21.06 and a beta of 1.23. Ero Copper Corp. has a twelve month low of $9.30 and a twelve month high of $28.60.

Ero Copper (NYSE:ERO) last posted its earnings results on Tuesday, November 4th. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.09). The business had revenue of $177.10 million during the quarter, compared to analyst estimates of $309.30 million. Ero Copper had a net margin of 23.44% and a return on equity of 17.07%. On average, analysts predict that Ero Copper Corp. will post 0.71 earnings per share for the current year.

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.