Old West Investment Management LLC Invests $493,000 in Ero Copper Corp. $ERO

Old West Investment Management LLC bought a new stake in Ero Copper Corp. (NYSE:ERO) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 24,348 shares of the company’s stock, valued at approximately $493,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GMT Capital Corp boosted its stake in Ero Copper by 7.7% in the second quarter. GMT Capital Corp now owns 7,467,055 shares of the company’s stock valued at $125,865,000 after acquiring an additional 536,030 shares in the last quarter. Jennison Associates LLC boosted its position in shares of Ero Copper by 5.0% in the 2nd quarter. Jennison Associates LLC now owns 5,487,290 shares of the company’s stock valued at $92,651,000 after purchasing an additional 259,830 shares during the period. Bank of America Corp DE increased its position in Ero Copper by 82.6% during the second quarter. Bank of America Corp DE now owns 1,775,632 shares of the company’s stock worth $29,919,000 after buying an additional 803,320 shares during the period. Impala Asset Management LLC lifted its stake in Ero Copper by 3.0% in the second quarter. Impala Asset Management LLC now owns 1,699,100 shares of the company’s stock valued at $28,494,000 after buying an additional 49,199 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Ero Copper by 119.3% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,628,030 shares of the company’s stock valued at $27,515,000 after acquiring an additional 885,630 shares during the period. 71.30% of the stock is owned by hedge funds and other institutional investors.

Ero Copper Trading Down 2.9%

NYSE:ERO opened at $30.64 on Friday. Ero Copper Corp. has a 52-week low of $9.30 and a 52-week high of $39.80. The company has a quick ratio of 0.46, a current ratio of 0.82 and a debt-to-equity ratio of 0.64. The stock has a fifty day simple moving average of $29.12 and a 200-day simple moving average of $22.04. The company has a market capitalization of $3.19 billion, a PE ratio of 23.04 and a beta of 1.20.

Ero Copper (NYSE:ERO) last posted its earnings results on Tuesday, November 4th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.09). Ero Copper had a net margin of 23.44% and a return on equity of 17.07%. The business had revenue of $177.10 million for the quarter, compared to analysts’ expectations of $309.30 million. On average, equities research analysts expect that Ero Copper Corp. will post 0.71 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ERO shares. Zacks Research raised shares of Ero Copper from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 6th. Atb Cormark Cm raised shares of Ero Copper to a “moderate buy” rating in a report on Friday. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Ero Copper in a research note on Friday, December 5th. Canaccord Genuity Group raised Ero Copper from a “hold” rating to a “buy” rating in a research note on Wednesday, January 14th. Finally, Wall Street Zen cut Ero Copper from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Three equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.50.

Ero Copper Company Profile

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.