Goehring & Rozencwajg Associates LLC Sells 11,023 Shares of Ero Copper Corp. (NYSE:ERO)

Goehring & Rozencwajg Associates LLC lessened its stake in Ero Copper Corp. (NYSE:ERO) by 3.1% in the fourth quarter, HoldingsChannel reports. The firm owned 349,834 shares of the company’s stock after selling 11,023 shares during the period. Goehring & Rozencwajg Associates LLC’s holdings in Ero Copper were worth $4,485,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Toronto Dominion Bank grew its holdings in shares of Ero Copper by 2,172.6% in the third quarter. Toronto Dominion Bank now owns 57,702 shares of the company’s stock worth $1,285,000 after acquiring an additional 55,163 shares during the period. Old West Investment Management LLC grew its stake in shares of Ero Copper by 100.0% during the 3rd quarter. Old West Investment Management LLC now owns 160,000 shares of the company’s stock valued at $3,563,000 after purchasing an additional 80,000 shares during the period. Canoe Financial LP purchased a new stake in shares of Ero Copper during the 4th quarter valued at about $456,000. Montrusco Bolton Investments Inc. lifted its stake 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 worth $10,448,000 after purchasing an additional 28,999 shares during the period. Finally, Impala Asset Management LLC boosted its holdings in shares of Ero Copper by 12.7% in the third quarter. Impala Asset Management LLC now owns 2,209,610 shares of the company’s stock worth $49,208,000 after buying an additional 248,390 shares during the last quarter. 71.30% of the stock is owned by institutional investors.

Ero Copper Price Performance

NYSE:ERO opened at $13.37 on Friday. The business’s 50-day simple moving average is $13.92 and its two-hundred day simple moving average is $17.43. Ero Copper Corp. has a 52 week low of $12.78 and a 52 week high of $24.34. The stock has a market cap of $1.38 billion, a PE ratio of 78.65 and a beta of 1.14. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 0.71.

Ero Copper (NYSE:ERO) last issued its earnings results on Tuesday, November 5th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.05. Ero Copper had a return on equity of 11.30% and a net margin of 3.67%. The company had revenue of $124.80 million for the quarter, compared to the consensus estimate of $148.80 million. During the same quarter last year, the company earned $0.18 EPS. As a group, analysts forecast that Ero Copper Corp. will post 0.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on ERO. StockNews.com raised shares of Ero Copper from a “sell” rating to a “hold” rating in a report on Friday, October 25th. The Goldman Sachs Group initiated coverage on Ero Copper in a research note on Monday, December 2nd. They issued a “buy” rating and a $19.00 price objective for the company. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $26.33.

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.