Sheets Smith Wealth Management Buys Shares of 20,614 Ero Copper Corp. $ERO

Sheets Smith Wealth Management purchased a new position in shares of Ero Copper Corp. (NYSE:ERO) during the third quarter, Holdings Channel.com reports. The fund purchased 20,614 shares of the company’s stock, valued at approximately $417,000.

Other institutional investors also recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its holdings in Ero Copper by 82.0% during the first quarter. Goldman Sachs Group Inc. now owns 275,598 shares of the company’s stock worth $3,340,000 after purchasing an additional 124,179 shares in the last quarter. Frontier Capital Management Co. LLC boosted its stake in Ero Copper by 21.5% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 1,354,239 shares of the company’s stock valued at $22,819,000 after purchasing an additional 239,935 shares in the last quarter. Maverick Capital Ltd. acquired a new position in shares of Ero Copper during the 1st quarter valued at $806,000. GMT Capital Corp raised its stake in shares of Ero Copper by 22.9% in the 1st quarter. GMT Capital Corp now owns 6,931,025 shares of the company’s stock worth $83,938,000 after buying an additional 1,292,100 shares in the last quarter. Finally, Decade Renewable Partners LP raised its stake in shares of Ero Copper by 61.6% in the 1st quarter. Decade Renewable Partners LP now owns 721,700 shares of the company’s stock worth $8,743,000 after buying an additional 275,100 shares in the last quarter. 71.30% of the stock is owned by institutional investors and hedge funds.

Ero Copper Price Performance

ERO stock 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. Ero Copper Corp. has a one year low of $9.30 and a one year high of $28.60. The firm has a market capitalization of $2.91 billion, a PE ratio of 21.06 and a beta of 1.23. The firm has a 50-day moving average of $23.37 and a two-hundred day moving average of $18.76.

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

Analysts Set New Price Targets

ERO has been the subject of several research reports. Zacks Research cut Ero Copper from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 29th. Canaccord Genuity Group cut shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 17th. Stifel Canada lowered shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 21st. Wall Street Zen upgraded shares of Ero Copper from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Raymond James Financial restated an “outperform” rating on shares of Ero Copper in a research report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $25.00.

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.