Old West Investment Management LLC Has $3.56 Million Stake in Ero Copper Corp. (NYSE:ERO)

Old West Investment Management LLC grew its stake in Ero Copper Corp. (NYSE:ERO) by 100.0% during the third quarter, HoldingsChannel reports. The firm owned 160,000 shares of the company’s stock after buying an additional 80,000 shares during the quarter. Ero Copper accounts for about 1.3% of Old West Investment Management LLC’s investment portfolio, making the stock its 25th largest holding. Old West Investment Management LLC’s holdings in Ero Copper were worth $3,563,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ERO. Exchange Traded Concepts LLC acquired a new stake in Ero Copper in the third quarter valued at approximately $38,000. Toronto Dominion Bank lifted its stake in shares of Ero Copper by 38.7% in the 2nd quarter. Toronto Dominion Bank now owns 2,539 shares of the company’s stock valued at $54,000 after acquiring an additional 709 shares during the last quarter. Chesapeake Capital Corp IL acquired a new stake in shares of Ero Copper during the 2nd quarter valued at $351,000. Platinum Investment Management Ltd. grew its position in Ero Copper by 15.9% during the 1st quarter. Platinum Investment Management Ltd. now owns 18,738 shares of the company’s stock worth $362,000 after acquiring an additional 2,564 shares during the last quarter. Finally, Sentry Investment Management LLC acquired a new position in Ero Copper in the 3rd quarter worth about $457,000. 71.30% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ERO. Ventum Cap Mkts upgraded Ero Copper from a “hold” rating to a “strong-buy” rating in a report on Monday, July 22nd. Jefferies Financial Group raised Ero Copper from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Raymond James raised Ero Copper from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 3rd. Bank of America initiated coverage on Ero Copper in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $28.00 price objective on the stock. Finally, StockNews.com raised shares of Ero Copper from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Ero Copper presently has a consensus rating of “Buy” and an average target price of $30.00.

Ero Copper Trading Up 4.7 %

NYSE ERO opened at $18.63 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.82 and a quick ratio of 0.60. Ero Copper Corp. has a one year low of $11.35 and a one year high of $24.34. The business has a 50 day simple moving average of $20.29 and a 200 day simple moving average of $20.59. The stock has a market capitalization of $1.92 billion, a P/E ratio of -98.05 and a beta of 1.23.

Ero Copper Company 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.