Chesapeake Capital Corp IL Purchases Shares of 16,405 Ero Copper Corp. (NYSE:ERO)

Chesapeake Capital Corp IL acquired a new position in Ero Copper Corp. (NYSE:ERO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,405 shares of the company’s stock, valued at approximately $351,000.

A number of other hedge funds have also made changes to their positions in the business. Platinum Investment Management Ltd. acquired a new stake in Ero Copper during the 4th quarter valued at approximately $257,000. Aigen Investment Management LP bought a new stake in shares of Ero Copper in the fourth quarter worth $356,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Ero Copper in the fourth quarter worth $385,000. Versor Investments LP acquired a new stake in Ero Copper in the fourth quarter valued at $438,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Ero Copper by 6.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,933 shares of the company’s stock valued at $469,000 after acquiring an additional 1,277 shares during the last quarter. Hedge funds and other institutional investors own 71.30% of the company’s stock.

Ero Copper Stock Up 2.4 %

Shares of Ero Copper stock opened at $18.72 on Tuesday. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 28.80 and a beta of 1.19. Ero Copper Corp. has a twelve month low of $11.35 and a twelve month high of $24.34. The company has a current ratio of 0.82, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59. The business’s 50 day simple moving average is $20.20 and its 200-day simple moving average is $20.15.

Ero Copper (NYSE:ERO) last issued its earnings results on Thursday, August 1st. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.01. Ero Copper had a positive return on equity of 9.89% and a negative net margin of 4.79%. The firm had revenue of $117.10 million for the quarter. During the same period in the prior year, the business earned $0.24 earnings per share. Equities research analysts forecast that Ero Copper Corp. will post 1.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

ERO has been the topic of a number of recent analyst reports. Scotiabank upgraded shares of Ero Copper from a “sector perform” rating to a “sector outperform” rating in a research note on Thursday, May 30th. StockNews.com lowered Ero Copper from a “hold” rating to a “sell” rating in a research report on Friday, July 19th. Jefferies Financial Group raised Ero Copper from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Raymond James raised shares of Ero Copper from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 3rd. Finally, Bank of America started coverage on shares of Ero Copper in a report on Tuesday, September 3rd. They set a “buy” rating and a $28.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.00.

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.