Cubist Systematic Strategies LLC Invests $567,000 in Ero Copper Corp. (NYSE:ERO)

Cubist Systematic Strategies LLC acquired a new position in Ero Copper Corp. (NYSE:ERO) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 42,088 shares of the company’s stock, valued at approximately $567,000.

Other hedge funds have also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in shares of Ero Copper in the fourth quarter worth about $991,000. Jennison Associates LLC lifted its stake in shares of Ero Copper by 3.5% during the 4th quarter. Jennison Associates LLC now owns 5,909,627 shares of the company’s stock worth $79,645,000 after acquiring an additional 198,800 shares during the last quarter. Canoe Financial LP purchased a new position in Ero Copper during the 4th quarter worth $456,000. Montrusco Bolton Investments Inc. increased its holdings in Ero Copper by 3.9% during the 4th quarter. Montrusco Bolton Investments Inc. now owns 775,356 shares of the company’s stock worth $10,448,000 after purchasing an additional 28,999 shares during the period. Finally, Sprott Inc. increased its holdings in Ero Copper by 42.2% during the 4th quarter. Sprott Inc. now owns 455,289 shares of the company’s stock worth $6,137,000 after purchasing an additional 135,049 shares during the period. Institutional investors own 71.30% of the company’s stock.

Ero Copper Price Performance

NYSE:ERO opened at $13.64 on Friday. Ero Copper Corp. has a 12 month low of $9.30 and a 12 month high of $24.34. The stock has a 50 day moving average of $12.22 and a two-hundred day moving average of $13.63. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 0.71. The firm has a market cap of $1.41 billion, a P/E ratio of 80.24 and a beta of 1.10.

Ero Copper (NYSE:ERO) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.17 by $0.18. The company had revenue of $125.10 million during the quarter, compared to analyst estimates of $179.45 million. 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 earnings per share for the current fiscal year.

Analyst Ratings Changes

ERO has been the topic of a number of analyst reports. StockNews.com upgraded Ero Copper from a “hold” rating to a “buy” rating in a report on Wednesday, May 7th. TD Securities restated a “buy” rating on shares of Ero Copper in a research note on Wednesday, May 7th. TD Cowen raised Ero Copper from a “hold” rating to a “buy” rating in a report on Wednesday, February 12th. National Bankshares raised Ero Copper from a “sector perform” rating to an “outperform” rating in a report on Tuesday, May 6th. Finally, Desjardins initiated coverage on Ero Copper in a report on Friday, April 4th. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Ero Copper has a consensus rating of “Buy” and a consensus target price of $26.33.

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.