Renaissance Technologies LLC Purchases New Position in Ero Copper Corp. (NYSE:ERO)

Renaissance Technologies LLC acquired a new position in shares of Ero Copper Corp. (NYSE:ERO) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 260,300 shares of the company’s stock, valued at approximately $3,509,000. Renaissance Technologies LLC owned about 0.25% of Ero Copper as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jennison Associates LLC grew its stake in Ero Copper by 3.5% during the 4th quarter. Jennison Associates LLC now owns 5,909,627 shares of the company’s stock worth $79,645,000 after buying an additional 198,800 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Ero Copper by 22.6% in the fourth quarter. Invesco Ltd. now owns 3,890,977 shares of the company’s stock valued at $52,450,000 after acquiring an additional 715,999 shares during the period. Boston Partners grew its position in shares of Ero Copper by 66.9% during the fourth quarter. Boston Partners now owns 1,101,265 shares of the company’s stock worth $14,850,000 after acquiring an additional 441,413 shares during the last quarter. Montrusco Bolton Investments Inc. increased its holdings in shares of Ero Copper by 3.9% in the 4th quarter. Montrusco Bolton Investments Inc. now owns 775,356 shares of the company’s stock valued at $10,448,000 after acquiring an additional 28,999 shares during the period. Finally, Bank of Montreal Can raised its position in Ero Copper by 7.4% in the 4th quarter. Bank of Montreal Can now owns 728,570 shares of the company’s stock valued at $9,810,000 after purchasing an additional 50,455 shares during the last quarter. Institutional investors and hedge funds own 71.30% of the company’s stock.

Ero Copper Stock Up 2.7 %

Ero Copper stock opened at $11.22 on Wednesday. The stock’s 50 day moving average price is $12.14 and its 200 day moving average price is $14.40. Ero Copper Corp. has a 1-year low of $9.30 and a 1-year high of $24.34. The company has a market cap of $1.16 billion, a PE ratio of 65.97 and a beta of 1.10. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.68 and a quick ratio of 0.45.

Ero Copper (NYSE:ERO) last issued its earnings results on Thursday, March 6th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.04). The company had revenue of $122.50 million for the quarter, compared to analysts’ expectations of $183.26 million. Ero Copper had a return on equity of 11.30% and a net margin of 3.67%. On average, sell-side analysts predict that Ero Copper Corp. will post 0.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ERO. BMO Capital Markets began coverage on shares of Ero Copper in a research report on Wednesday, April 16th. They set an “outperform” rating on the stock. Desjardins started coverage on Ero Copper in a research report on Friday, April 4th. They issued a “hold” rating on the stock. Raymond James reaffirmed an “outperform” rating on shares of Ero Copper in a research note on Friday, April 4th. TD Securities upgraded Ero Copper from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 12th. Finally, TD Cowen upgraded Ero Copper from a “hold” rating to a “buy” rating in a research note on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $26.33.

Ero Copper Company Profile

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.