Kapitalo Investimentos Ltda Purchases New Position in Ero Copper Corp. $ERO

Kapitalo Investimentos Ltda purchased a new stake in Ero Copper Corp. (NYSE:ERO) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 1,076,696 shares of the company’s stock, valued at approximately $28,802,000. Ero Copper comprises 1.8% of Kapitalo Investimentos Ltda’s portfolio, making the stock its 10th largest holding.

Several other hedge funds have also recently bought and sold shares of the stock. FIL Ltd boosted its holdings in shares of Ero Copper by 74.1% during the fourth quarter. FIL Ltd now owns 11,670,422 shares of the company’s stock worth $330,161,000 after acquiring an additional 4,966,427 shares during the period. Hillsdale Investment Management Inc. lifted its holdings in Ero Copper by 602.9% during the 4th quarter. Hillsdale Investment Management Inc. now owns 1,685,445 shares of the company’s stock worth $47,767,000 after purchasing an additional 1,445,645 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Ero Copper by 1,614.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,434,428 shares of the company’s stock worth $29,056,000 after purchasing an additional 1,350,738 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Ero Copper by 4,913.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 974,932 shares of the company’s stock valued at $26,000,000 after purchasing an additional 955,487 shares during the period. Finally, Bank of America Corp DE boosted its stake in Ero Copper by 82.6% in the 2nd quarter. Bank of America Corp DE now owns 1,775,632 shares of the company’s stock valued at $29,919,000 after purchasing an additional 803,320 shares during the period. 71.30% of the stock is currently owned by institutional investors and hedge funds.

Ero Copper Price Performance

Ero Copper stock opened at $40.42 on Wednesday. The stock’s fifty day moving average price is $29.13 and its two-hundred day moving average price is $28.83. Ero Copper Corp. has a one year low of $13.91 and a one year high of $40.54. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 0.81. The firm has a market cap of $4.22 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 0.31 and a beta of 1.21.

Ero Copper (NYSE:ERO) last released its earnings results on Wednesday, August 5th. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. The firm had revenue of $284.30 million during the quarter, compared to the consensus estimate of $277.64 million. Ero Copper had a return on equity of 30.32% and a net margin of 29.79%. As a group, research analysts expect that Ero Copper Corp. will post 3.98 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on ERO shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ero Copper in a report on Thursday, June 4th. Jefferies Financial Group reissued a “hold” rating on shares of Ero Copper in a research report on Monday, July 6th. Scotiabank restated an “outperform” rating on shares of Ero Copper in a research note on Monday, June 15th. TD Securities reaffirmed a “hold” rating on shares of Ero Copper in a research report on Friday, August 7th. Finally, Wall Street Zen upgraded shares of Ero Copper from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Ero Copper has an average rating of “Moderate Buy” and a consensus target price of $32.33.

Ero Copper Company Profile

Ero Copper Corp (NYSE: ERO) is a Canada-based natural resource company focused on the production of copper concentrate from its Brazilian operations. The company’s flagship asset is the Vale do Curaçá mining complex in the state of Bahia, which includes multiple underground mines and a centralized processing facility. Ero Copper’s primary product is copper concentrate, which is sold to smelters and end users around the world.

The Vale do Curaçá complex comprises the Pilar and Surubim underground mines, supported by a fully integrated processing plant.