Synergy Asset Management LLC Acquires Shares of 5,807 Ero Copper Corp. (NYSE:ERO)

Synergy Asset Management LLC bought a new stake in Ero Copper Corp. (NYSE:ERO) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,807 shares of the company’s stock, valued at approximately $78,000.

A number of other institutional investors have also recently made changes to their positions in ERO. Dimensional Fund Advisors LP raised its stake in Ero Copper by 32.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 464,047 shares of the company’s stock valued at $9,922,000 after acquiring an additional 115,002 shares during the period. Exchange Traded Concepts LLC bought a new stake in shares of Ero Copper in the third quarter valued at approximately $38,000. Van ECK Associates Corp lifted its stake in shares of Ero Copper by 3.1% during the 3rd quarter. Van ECK Associates Corp now owns 136,990 shares of the company’s stock valued at $3,051,000 after buying an additional 4,097 shares in the last quarter. Intact Investment Management Inc. bought a new position in Ero Copper in the 3rd quarter worth approximately $670,000. Finally, Sentry Investment Management LLC purchased a new position in Ero Copper in the 3rd quarter valued at approximately $457,000. Hedge funds and other institutional investors own 71.30% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on ERO shares. StockNews.com raised 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 report on Monday, December 2nd. They set a “buy” rating and a $19.00 target price for the company. One equities research 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. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $26.33.

Ero Copper Price Performance

Ero Copper stock opened at $13.67 on Friday. The business has a 50-day simple moving average of $14.16 and a 200 day simple moving average of $17.71. 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 $1.41 billion, a price-to-earnings ratio of 80.43 and a beta of 1.15. 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 posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.05. Ero Copper had a net margin of 3.67% and a return on equity of 11.30%. The company had revenue of $124.80 million for the quarter, compared to analysts’ expectations of $148.80 million. During the same period in the prior year, the business earned $0.18 earnings per share. On average, research analysts forecast that Ero Copper Corp. will post 0.92 earnings per share for the current fiscal year.

Ero Copper 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.