Ero Copper Corp. $ERO Stock Holdings Cut by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA reduced its holdings in Ero Copper Corp. (NYSE:ERO) by 18.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 100,468 shares of the company’s stock after selling 22,341 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Ero Copper were worth $3,689,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Engineers Gate Manager LP lifted its position in shares of Ero Copper by 0.8% during the 2nd quarter. Engineers Gate Manager LP now owns 37,573 shares of the company’s stock worth $1,005,000 after purchasing an additional 285 shares during the last quarter. Corient Private Wealth LP boosted its stake in Ero Copper by 4.0% during the 2nd quarter. Corient Private Wealth LP now owns 9,046 shares of the company’s stock valued at $242,000 after purchasing an additional 348 shares during the period. Hilton Head Capital Partners LLC grew its holdings in Ero Copper by 250.0% in the 3rd quarter. Hilton Head Capital Partners LLC now owns 700 shares of the company’s stock valued at $26,000 after buying an additional 500 shares during the last quarter. Hughes Financial Services LLC acquired a new stake in Ero Copper in the 3rd quarter valued at approximately $52,000. Finally, PenderFund Capital Management Ltd. acquired a new stake in Ero Copper in the 2nd quarter valued at approximately $39,000. 71.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on ERO shares. Scotiabank raised Ero Copper from a “sector perform” rating to a “sector outperform” rating in a research report on Tuesday, November 3rd. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Ero Copper in a research report on Wednesday, September 23rd. TD Securities restated a “hold” rating on shares of Ero Copper in a research note on Friday, August 7th. Bradesco Corretora lowered shares of Ero Copper from an “outperform” rating to a “neutral” rating in a research report on Wednesday, September 2nd. Finally, Weiss Ratings lowered shares of Ero Copper from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Ero Copper has an average rating of “Hold” and an average target price of $32.33.

Ero Copper Stock Performance

ERO stock traded down $0.75 during trading on Friday, reaching $29.01. 903,137 shares of the stock were exchanged, compared to its average volume of 1,533,601. Ero Copper Corp. has a twelve month low of $20.61 and a twelve month high of $40.83. The company has a market capitalization of $3.03 billion, a P/E ratio of 7.78, a price-to-earnings-growth ratio of 0.27 and a beta of 1.32. The stock has a 50 day simple moving average of $33.89 and a 200-day simple moving average of $30.60. The company has a current ratio of 1.30, a quick ratio of 0.81 and a debt-to-equity ratio of 0.50.

Ero Copper (NYSE:ERO) last issued its quarterly earnings results on Monday, November 2nd. The company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.17. The firm had revenue of $348.00 million for the quarter, compared to analyst estimates of $342.91 million. Ero Copper had a return on equity of 38.98% and a net margin of 32.21%. As a group, sell-side analysts anticipate that Ero Copper Corp. will post 3.86 earnings per share for the current year.

About Ero Copper

Ero Copper Corp. is a Canadian mining company focused on copper production in Brazil. Its operations include the Caraíba complex in Bahia, which comprises underground and open-pit mines and processing facilities, and the Tucumã mine in Pará. The company produces copper concentrate and may recover gold and silver as byproducts. Ero Copper was established in 2016 to acquire and develop copper assets in Brazil, and Tucumã began commercial production in 2024. Headquartered in Vancouver, British Columbia, Ero Copper’s business is centered on operating and developing its Brazilian mining assets.