PVG Asset Management Corp Purchases 40,487 Shares of Ero Copper Corp. $ERO

PVG Asset Management Corp lifted its position in shares of Ero Copper Corp. (NYSE:ERO) by 509.7% during the 1st quarter, Holdings Channel reports. The firm owned 48,431 shares of the company’s stock after purchasing an additional 40,487 shares during the quarter. PVG Asset Management Corp’s holdings in Ero Copper were worth $1,292,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of ERO. TD Waterhouse Canada Inc. lifted its stake in Ero Copper by 2.2% in the 4th quarter. TD Waterhouse Canada Inc. now owns 17,852 shares of the company’s stock valued at $503,000 after purchasing an additional 380 shares during the last quarter. Pictet Asset Management Holding SA increased its position in Ero Copper by 3.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 18,103 shares of the company’s stock worth $513,000 after buying an additional 574 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in Ero Copper during the fourth quarter worth approximately $25,000. Public Employees Retirement System of Ohio raised its stake in Ero Copper by 3.5% in the fourth quarter. Public Employees Retirement System of Ohio now owns 32,833 shares of the company’s stock valued at $933,000 after buying an additional 1,107 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Ero Copper in the fourth quarter valued at approximately $38,000. 71.30% of the stock is owned by institutional investors.

Ero Copper Stock Down 0.1%

ERO opened at $26.88 on Monday. The stock has a fifty day moving average of $27.26 and a 200-day moving average of $28.64. The company has a market capitalization of $2.80 billion, a P/E ratio of 9.56, a P/E/G ratio of 0.21 and a beta of 1.21. Ero Copper Corp. has a fifty-two week low of $12.79 and a fifty-two week high of $39.80. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.81 and a current ratio of 1.30.

Ero Copper (NYSE:ERO) last released its quarterly earnings results on Monday, May 4th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.56 by $0.13. Ero Copper had a net margin of 31.63% and a return on equity of 27.33%. The business had revenue of $263.20 million for the quarter, compared to the consensus estimate of $245.51 million. On average, equities analysts expect that Ero Copper Corp. will post 4.02 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ERO. The Goldman Sachs Group downgraded Ero Copper from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $33.00 to $31.00 in a research note on Tuesday, April 14th. Wall Street Zen cut Ero Copper from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Bank of America raised Ero Copper from a “neutral” rating to a “buy” rating and raised their price target for the company from $30.00 to $34.00 in a report on Thursday, July 16th. Bradesco Corretora raised shares of Ero Copper to an “outperform” rating in a research report on Monday, July 20th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Ero Copper in a research report on Monday, June 15th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, Ero Copper presently has a consensus rating of “Moderate Buy” and an average target price of $32.33.

Ero Copper 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.