Aigen Investment Management LP Acquires New Stake in Ero Copper Corp. (NYSE:ERO)

Aigen Investment Management LP acquired a new stake in shares of Ero Copper Corp. (NYSE:ERO) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 52,200 shares of the company’s stock, valued at approximately $704,000.

A number of other hedge funds also recently bought and sold shares of the company. Sentry Investment Management LLC increased its position in Ero Copper by 5.8% during the fourth quarter. Sentry Investment Management LLC now owns 21,716 shares of the company’s stock valued at $293,000 after acquiring an additional 1,188 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Ero Copper by 6.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,408 shares of the company’s stock valued at $522,000 after acquiring an additional 1,475 shares during the last quarter. Keybank National Association OH increased its position in Ero Copper by 8.0% during the fourth quarter. Keybank National Association OH now owns 26,120 shares of the company’s stock valued at $352,000 after acquiring an additional 1,946 shares during the last quarter. Pinpoint Asset Management Ltd increased its position in Ero Copper by 7.2% during the third quarter. Pinpoint Asset Management Ltd now owns 42,372 shares of the company’s stock valued at $944,000 after acquiring an additional 2,856 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in Ero Copper by 3.3% during the third quarter. CIBC Asset Management Inc now owns 117,832 shares of the company’s stock valued at $2,624,000 after acquiring an additional 3,746 shares during the last quarter. Hedge funds and other institutional investors own 71.30% of the company’s stock.

Analysts Set New Price Targets

ERO has been the subject of a number of research reports. The Goldman Sachs Group began coverage on Ero Copper in a research report on Monday, December 2nd. They set a “buy” rating and a $19.00 price objective for the company. TD Securities upgraded Ero Copper from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 12th. Finally, TD Cowen upgraded Ero Copper from a “hold” rating to a “buy” rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Ero Copper presently has a consensus rating of “Buy” and a consensus price target of $26.33.

Ero Copper Stock Performance

Shares of ERO opened at $12.42 on Friday. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 73.03 and a beta of 1.17. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 0.71. The business has a 50-day simple moving average of $13.52 and a two-hundred day simple moving average of $16.60. Ero Copper Corp. has a 52 week low of $11.11 and a 52 week high of $24.34.

Ero Copper (NYSE:ERO) last released its quarterly earnings data on Thursday, March 6th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.04). Ero Copper had a return on equity of 11.30% and a net margin of 3.67%. On average, analysts expect that Ero Copper Corp. will post 0.71 EPS for the current year.

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.