Oakmont Investment Advisors Inc. Takes $1.65 Million Position in Ero Copper Corp. $ERO

Oakmont Investment Advisors Inc. acquired a new stake in shares of Ero Copper Corp. (NYSE:ERO) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 61,509 shares of the company’s stock, valued at approximately $1,645,000. Ero Copper accounts for 1.2% of Oakmont Investment Advisors Inc.’s portfolio, making the stock its 22nd biggest position.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its stake in Ero Copper by 123.7% during the 1st quarter. Royal Bank of Canada now owns 354,638 shares of the company’s stock valued at $9,459,000 after purchasing an additional 196,101 shares in the last quarter. Cape Ann Asset Management Ltd increased its position in shares of Ero Copper by 13.5% during the 1st quarter. Cape Ann Asset Management Ltd now owns 1,949,128 shares of the company’s stock valued at $51,983,000 after purchasing an additional 231,485 shares during the period. Temasek Holdings Private Ltd raised its stake in shares of Ero Copper by 22.3% in the 1st quarter. Temasek Holdings Private Ltd now owns 579,162 shares of the company’s stock worth $15,396,000 after buying an additional 105,502 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Ero Copper by 4,913.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 974,932 shares of the company’s stock worth $26,000,000 after buying an additional 955,487 shares in the last quarter. Finally, Sei Investments Co. acquired a new stake in shares of Ero Copper in the first quarter valued at $1,017,000. Institutional investors own 71.30% of the company’s stock.

Ero Copper Trading Down 1.4%

Shares of NYSE ERO opened at $34.82 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. Ero Copper Corp. has a 12 month low of $14.89 and a 12 month high of $40.83. The company has a market cap of $3.63 billion, a price-to-earnings ratio of 11.68, a P/E/G ratio of 0.28 and a beta of 1.27. The business has a fifty day simple moving average of $30.48 and a 200-day simple moving average of $29.18.

Ero Copper (NYSE:ERO) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. The firm had revenue of $284.30 million for the quarter, compared to analysts’ expectations of $277.64 million. Ero Copper had a return on equity of 30.32% and a net margin of 29.79%. Sell-side analysts predict that Ero Copper Corp. will post 3.98 EPS for the current year.

Wall Street Analyst Weigh In

ERO has been the topic of a number of research analyst reports. Freedom Broker lowered Ero Copper from a “strong-buy” rating to a “hold” rating in a report on Thursday. Jefferies Financial Group reissued a “hold” rating on shares of Ero Copper in a report on Monday, July 6th. Weiss Ratings restated a “hold (c+)” rating on shares of Ero Copper in a research report on Tuesday. Wall Street Zen cut shares of Ero Copper from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. Finally, Bank of America upgraded shares of Ero Copper from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $30.00 to $34.00 in a report on Thursday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $32.33.

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.