Eschler Asset Management LLP Invests $1.36 Million in Ero Copper Corp. $ERO

Eschler Asset Management LLP bought a new stake in Ero Copper Corp. (NYSE:ERO) in the second quarter, HoldingsChannel reports. The fund bought 80,910 shares of the company’s stock, valued at approximately $1,363,000. Ero Copper accounts for approximately 1.0% of Eschler Asset Management LLP’s investment portfolio, making the stock its 23rd biggest position.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. GMT Capital Corp boosted its stake in shares of Ero Copper by 22.9% during the 1st quarter. GMT Capital Corp now owns 6,931,025 shares of the company’s stock worth $83,938,000 after buying an additional 1,292,100 shares during the last quarter. Jennison Associates LLC increased its position in shares of Ero Copper by 5.0% in the second quarter. Jennison Associates LLC now owns 5,487,290 shares of the company’s stock valued at $92,651,000 after acquiring an additional 259,830 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Ero Copper by 2.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,607,517 shares of the company’s stock worth $43,689,000 after acquiring an additional 80,359 shares in the last quarter. Bank of America Corp DE raised its holdings 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 acquiring an additional 803,320 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Ero Copper by 119.3% during 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 purchasing an additional 885,630 shares during the last quarter. 71.30% of the stock is currently owned by institutional investors and hedge funds.

Ero Copper Trading Down 2.5%

Shares of Ero Copper stock opened at $25.31 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.82 and a quick ratio of 0.80. The business has a fifty day simple moving average of $22.62 and a two-hundred day simple moving average of $17.97. Ero Copper Corp. has a 1 year low of $9.30 and a 1 year high of $26.77. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of 19.03 and a beta of 1.23.

Ero Copper (NYSE:ERO) last issued its quarterly earnings data 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). The company had revenue of $177.10 million during the quarter, compared to the consensus estimate of $309.30 million. Ero Copper had a net margin of 23.44% and a return on equity of 17.07%. Research analysts forecast that Ero Copper Corp. will post 0.71 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ERO. Scotiabank raised Ero Copper from a “hold” rating to an “outperform” rating in a research report on Thursday, November 6th. Canaccord Genuity Group downgraded shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a report on Friday, October 17th. Stifel Canada cut shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 21st. CIBC reissued a “neutral” rating on shares of Ero Copper in a research report on Friday, December 5th. Finally, The Goldman Sachs Group upped their target price on shares of Ero Copper from $18.50 to $25.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, Ero Copper has an average rating of “Hold” and an average target price of $25.00.

Ero Copper 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.