Bank of Montreal Can Grows Stock Position in Ero Copper Corp. (NYSE:ERO)

Bank of Montreal Can increased its position in shares of Ero Copper Corp. (NYSE:ERO) by 7.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 728,570 shares of the company’s stock after purchasing an additional 50,455 shares during the quarter. Bank of Montreal Can owned approximately 0.70% of Ero Copper worth $9,810,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Synergy Asset Management LLC acquired a new stake in shares of Ero Copper in the 4th quarter worth $78,000. Northwest & Ethical Investments L.P. lifted its stake in Ero Copper by 19.1% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 6,550 shares of the company’s stock worth $88,000 after purchasing an additional 1,050 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in shares of Ero Copper during the fourth quarter worth $125,000. Quantbot Technologies LP acquired a new stake in shares of Ero Copper in the fourth quarter valued at $162,000. Finally, Sentry Investment Management LLC raised its holdings in shares of Ero Copper by 5.8% in the 4th quarter. Sentry Investment Management LLC now owns 21,716 shares of the company’s stock valued at $293,000 after buying an additional 1,188 shares during the period. 71.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ERO. Raymond James restated an “outperform” rating on shares of Ero Copper in a report on Friday, April 4th. Desjardins assumed coverage on shares of Ero Copper in a report on Friday, April 4th. They issued a “hold” rating for the company. TD Securities upgraded shares of Ero Copper from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 12th. Finally, TD Cowen raised shares of Ero Copper from a “hold” rating to a “buy” rating in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Ero Copper presently has a consensus rating of “Buy” and a consensus target price of $26.33.

Ero Copper Price Performance

Shares of ERO opened at $10.46 on Monday. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 61.54 and a beta of 1.10. The firm’s fifty day simple moving average is $12.50 and its 200-day simple moving average is $14.90. Ero Copper Corp. has a twelve month low of $9.30 and a twelve month high of $24.34. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 0.71.

Ero Copper (NYSE:ERO) last announced its quarterly earnings results on Thursday, March 6th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.04). Ero Copper had a return on equity of 11.30% and a net margin of 3.67%. The business had revenue of $122.50 million for the quarter, compared to analysts’ expectations of $183.26 million. Equities analysts forecast that Ero Copper Corp. will post 0.71 EPS for the current fiscal year.

About Ero Copper

Ero Copper Corp. engages in the exploration, development, and production of mining projects in Brazil. The company is involved in the production and sale of copper concentrate from the Caraíba operations located in the Curaçá Valley, northeastern Bahia state, Brazil, as well as gold and silver by-products.