Chesapeake Capital Corp IL Invests $351,000 in Ero Copper Corp. (NYSE:ERO)

Chesapeake Capital Corp IL bought a new stake in Ero Copper Corp. (NYSE:ERO) during the 2nd quarter, HoldingsChannel reports. The fund bought 16,405 shares of the company’s stock, valued at approximately $351,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Jennison Associates LLC increased its stake in shares of Ero Copper by 39.0% during the first quarter. Jennison Associates LLC now owns 3,998,246 shares of the company’s stock valued at $77,117,000 after acquiring an additional 1,121,095 shares during the period. Boston Partners boosted its position in shares of Ero Copper by 226.9% in the first quarter. Boston Partners now owns 726,068 shares of the company’s stock worth $14,010,000 after buying an additional 503,972 shares during the period. Kapitalo Investimentos Ltda acquired a new position in Ero Copper during the fourth quarter valued at $5,763,000. Scotia Capital Inc. lifted its stake in Ero Copper by 290.6% in the 4th quarter. Scotia Capital Inc. now owns 292,968 shares of the company’s stock worth $4,617,000 after acquiring an additional 217,968 shares in the last quarter. Finally, Montrusco Bolton Investments Inc. boosted its position in Ero Copper by 31.7% during the 4th quarter. Montrusco Bolton Investments Inc. now owns 845,623 shares of the company’s stock worth $13,435,000 after acquiring an additional 203,613 shares during the period. Institutional investors own 71.30% of the company’s stock.

Ero Copper Price Performance

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

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

Analyst Upgrades and Downgrades

ERO has been the topic of a number of research reports. Bank of America began coverage on Ero Copper in a report on Tuesday, September 3rd. They issued a “buy” rating and a $28.00 target price on the stock. Scotiabank raised shares of Ero Copper from a “sector perform” rating to a “sector outperform” rating in a research report on Thursday, May 30th. StockNews.com lowered shares of Ero Copper from a “hold” rating to a “sell” rating in a research report on Friday, July 19th. Ventum Cap Mkts raised shares of Ero Copper from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 22nd. Finally, BMO Capital Markets raised shares of Ero Copper from a “market perform” rating to an “outperform” rating in a research report on Wednesday, June 26th. One analyst has rated the stock with a sell rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Ero Copper has a consensus 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.