Ero Copper Corp. $ERO Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC lifted its stake in shares of Ero Copper Corp. (NYSE:ERO) by 768.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 420,876 shares of the company’s stock after purchasing an additional 372,400 shares during the quarter. Renaissance Technologies LLC owned about 0.40% of Ero Copper worth $11,225,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Public Employees Retirement System of Ohio lifted its stake in shares of Ero Copper by 43.0% in the 1st quarter. Public Employees Retirement System of Ohio now owns 46,946 shares of the company’s stock worth $1,248,000 after acquiring an additional 14,113 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Ero Copper by 4,913.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 974,932 shares of the company’s stock worth $26,000,000 after purchasing an additional 955,487 shares in the last quarter. Sei Investments Co. bought a new stake in Ero Copper during the first quarter worth approximately $1,017,000. Impala Asset Management LLC lifted its position in Ero Copper by 8.2% in the first quarter. Impala Asset Management LLC now owns 1,027,956 shares of the company’s stock worth $27,392,000 after purchasing an additional 77,956 shares during the period. Finally, Temasek Holdings Private Ltd boosted its stake in Ero Copper by 22.3% during the 1st quarter. Temasek Holdings Private Ltd now owns 579,162 shares of the company’s stock valued at $15,396,000 after purchasing an additional 105,502 shares in the last quarter. Institutional investors and hedge funds own 71.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ERO shares. The Goldman Sachs Group cut Ero Copper from a “buy” rating to a “neutral” rating and lowered their price target for the company from $33.00 to $31.00 in a research report on Tuesday, April 14th. Bradesco Corretora raised Ero Copper to an “outperform” rating in a research note on Monday, July 20th. Scotiabank reaffirmed an “outperform” rating on shares of Ero Copper in a report on Monday, June 15th. National Bank Financial upgraded shares of Ero Copper from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Ero Copper in a research report on Thursday, June 4th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, Ero Copper currently has an average rating of “Moderate Buy” and a consensus target price of $32.33.

Ero Copper Stock Performance

ERO opened at $26.88 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. The firm has a market cap of $2.80 billion, a PE ratio of 9.56, a P/E/G ratio of 0.21 and a beta of 1.20. The business has a fifty day simple moving average of $27.26 and a 200-day simple moving average of $28.66. Ero Copper Corp. has a fifty-two week low of $12.79 and a fifty-two week high of $39.80.

Ero Copper (NYSE:ERO) last announced its earnings results on Monday, May 4th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.13. Ero Copper had a return on equity of 27.33% and a net margin of 31.63%.The company had revenue of $263.20 million for the quarter, compared to analyst estimates of $245.51 million. As a group, equities analysts predict that Ero Copper Corp. will post 4.02 EPS for the current fiscal 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.