Chesapeake Capital Corp IL Cuts Stake in Ero Copper Corp. (NYSE:ERO)

Chesapeake Capital Corp IL trimmed its position in shares of Ero Copper Corp. (NYSE:ERO) by 16.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 13,705 shares of the company’s stock after selling 2,700 shares during the period. Chesapeake Capital Corp IL’s holdings in Ero Copper were worth $312,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ERO. Boston Partners grew its position in Ero Copper by 226.9% during the 1st quarter. Boston Partners now owns 726,068 shares of the company’s stock valued at $14,010,000 after purchasing an additional 503,972 shares during the last quarter. Lighthouse Investment Partners LLC purchased a new stake in Ero Copper during the 2nd quarter valued at about $2,521,000. Dimensional Fund Advisors LP grew its position in Ero Copper by 32.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 464,047 shares of the company’s stock valued at $9,922,000 after purchasing an additional 115,002 shares during the last quarter. Old West Investment Management LLC grew its position in Ero Copper by 100.0% during the 3rd quarter. Old West Investment Management LLC now owns 160,000 shares of the company’s stock valued at $3,563,000 after purchasing an additional 80,000 shares during the last quarter. Finally, K.J. Harrison & Partners Inc purchased a new stake in Ero Copper during the 2nd quarter valued at about $1,581,000. 71.30% of the stock is owned by hedge funds and other institutional investors.

Ero Copper Price Performance

Shares of NYSE:ERO opened at $15.28 on Monday. The firm’s 50 day moving average price is $19.75 and its 200-day moving average price is $20.40. Ero Copper Corp. has a twelve month low of $11.44 and a twelve month high of $24.34. The company has a quick ratio of 0.60, a current ratio of 0.82 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $1.58 billion, a PE ratio of 89.88 and a beta of 1.23.

Analysts Set New Price Targets

ERO has been the topic of several recent analyst reports. Jefferies Financial Group raised shares of Ero Copper from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Ventum Cap Mkts upgraded shares of Ero Copper from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 22nd. Bank of America initiated coverage on shares of Ero Copper in a research note on Tuesday, September 3rd. They set a “buy” rating and a $28.00 target price on the stock. Raymond James upgraded shares of Ero Copper from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 3rd. Finally, StockNews.com upgraded shares of Ero Copper from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $30.00.

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.