Lighthouse Investment Partners LLC Purchases New Holdings in Ero Copper Corp. $ERO

Lighthouse Investment Partners LLC acquired a new position in Ero Copper Corp. (NYSE:ERO) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 252,733 shares of the company’s stock, valued at approximately $5,117,000. Lighthouse Investment Partners LLC owned about 0.24% of Ero Copper at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Banque Cantonale Vaudoise purchased a new position in shares of Ero Copper in the third quarter valued at approximately $111,000. Shay Capital LLC acquired a new position in Ero Copper in the 3rd quarter valued at $202,000. Dynamic Technology Lab Private Ltd purchased a new position in Ero Copper in the 1st quarter valued at $217,000. Versor Investments LP purchased a new position in Ero Copper in the 3rd quarter valued at $217,000. Finally, Jain Global LLC acquired a new stake in Ero Copper during the 3rd quarter worth $239,000. Institutional investors and hedge funds own 71.30% of the company’s stock.

Analyst Ratings Changes

ERO has been the subject of a number of research reports. Scotiabank reaffirmed an “outperform” rating on shares of Ero Copper in a report on Monday, January 26th. Raymond James Financial lowered shares of Ero Copper from a “moderate buy” rating to a “hold” rating in a research report on Monday, February 9th. Jefferies Financial Group downgraded shares of Ero Copper from a “buy” rating to a “hold” rating in a report on Sunday, December 7th. The Goldman Sachs Group raised their target price on shares of Ero Copper from $25.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, January 14th. Finally, Wall Street Zen upgraded Ero Copper from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.50.

Ero Copper Trading Up 3.2%

Shares of ERO stock opened at $26.96 on Tuesday. The company has a current ratio of 0.82, a quick ratio of 0.46 and a debt-to-equity ratio of 0.64. Ero Copper Corp. has a twelve month low of $9.30 and a twelve month high of $39.80. The company’s 50-day moving average price is $31.17 and its 200-day moving average price is $25.16. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of 10.62 and a beta of 1.17.

Ero Copper (NYSE:ERO) last released its quarterly earnings data on Thursday, March 5th. The company reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.02). Ero Copper had a return on equity of 27.09% and a net margin of 33.56%.The firm had revenue of $320.20 million for the quarter, compared to analyst estimates of $430.46 million. As a group, equities analysts predict that Ero Copper Corp. will post 0.71 earnings per share for the current year.

About Ero Copper

Ero Copper Corp (NYSE: ERO) is a Canada-based natural resource company focused on the production of copper concentrate from its Brazilian operations. The company’s flagship asset is the Vale do Curaçá mining complex in the state of Bahia, which includes multiple underground mines and a centralized processing facility. Ero Copper’s primary product is copper concentrate, which is sold to smelters and end users around the world.

The Vale do Curaçá complex comprises the Pilar and Surubim underground mines, supported by a fully integrated processing plant.