Cubist Systematic Strategies LLC Takes Position in Ero Copper Corp. (NYSE:ERO)

Cubist Systematic Strategies LLC acquired a new position in Ero Copper Corp. (NYSE:ERO) in the 4th quarter, Holdings Channel reports. The firm acquired 42,088 shares of the company’s stock, valued at approximately $567,000.

Other hedge funds also recently added to or reduced their stakes in the company. Barclays PLC boosted its position in shares of Ero Copper by 64.4% during the third quarter. Barclays PLC now owns 33,987 shares of the company’s stock worth $757,000 after buying an additional 13,309 shares during the period. Canoe Financial LP acquired a new stake in shares of Ero Copper in the fourth quarter valued at $456,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in shares of Ero Copper in the fourth quarter valued at $125,000. Montrusco Bolton Investments Inc. raised its stake in shares of Ero Copper by 3.9% in the fourth quarter. Montrusco Bolton Investments Inc. now owns 775,356 shares of the company’s stock valued at $10,448,000 after acquiring an additional 28,999 shares in the last quarter. Finally, Synergy Asset Management LLC acquired a new stake in shares of Ero Copper in the fourth quarter valued at $78,000. 71.30% of the stock is currently owned by hedge funds and other institutional investors.

Ero Copper Stock Performance

NYSE ERO opened at $13.64 on Friday. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 0.71. Ero Copper Corp. has a 52-week low of $9.30 and a 52-week high of $24.34. The business’s 50-day moving average price is $12.22 and its 200 day moving average price is $13.63. 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 announced its quarterly earnings data on Monday, May 5th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.18. The firm had revenue of $125.10 million during the quarter, compared to the consensus estimate of $179.45 million. Ero Copper had a net margin of 3.67% and a return on equity of 11.30%. On average, equities research analysts expect that Ero Copper Corp. will post 0.71 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ERO. Desjardins began coverage on Ero Copper in a research note on Friday, April 4th. They issued a “hold” rating on the stock. TD Securities reiterated a “buy” rating on shares of Ero Copper in a research note on Wednesday, May 7th. TD Cowen upgraded Ero Copper from a “hold” rating to a “buy” rating in a research note on Wednesday, February 12th. National Bank Financial raised Ero Copper from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 6th. Finally, StockNews.com raised Ero Copper from a “hold” rating to a “buy” rating in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $26.33.

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.