Polar Asset Management Partners Inc. Invests $770,000 in Ero Copper Corp. $ERO

Polar Asset Management Partners Inc. purchased a new position in Ero Copper Corp. (NYSE:ERO) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 38,000 shares of the company’s stock, valued at approximately $770,000.

Several other hedge funds have also recently bought and sold shares of ERO. Banque Cantonale Vaudoise purchased a new stake in Ero Copper during the third quarter worth $111,000. Shay Capital LLC purchased a new position in shares of Ero Copper in the third quarter valued at $202,000. Versor Investments LP purchased a new position in shares of Ero Copper in the third quarter valued at $217,000. Jain Global LLC acquired a new position in shares of Ero Copper during the 3rd quarter worth $239,000. Finally, Olympiad Research LP acquired a new position in shares of Ero Copper during the 3rd quarter worth $248,000. 71.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ERO has been the topic of a number of research reports. ATB Cormark Capital Markets raised shares of Ero Copper to a “moderate buy” rating in a research note on Friday, February 6th. Raymond James Financial cut shares of Ero Copper from a “moderate buy” rating to a “hold” rating in a research report on Monday, February 9th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Ero Copper in a report on Friday, December 5th. Zacks Research lowered shares of Ero Copper from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 12th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Ero Copper in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.50.

Ero Copper Price Performance

ERO stock opened at $23.59 on Friday. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of 9.29 and a beta of 1.17. The company has a quick ratio of 0.46, a current ratio of 0.82 and a debt-to-equity ratio of 0.64. Ero Copper Corp. has a 52-week low of $9.30 and a 52-week high of $39.80. The stock’s fifty day simple moving average is $30.81 and its 200-day simple moving average is $25.30.

Ero Copper (NYSE:ERO) last released its earnings results on Thursday, March 5th. The company reported $1.04 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.02). Ero Copper had a net margin of 33.56% and a return on equity of 27.09%. The business had revenue of $320.20 million during the quarter, compared to analyst estimates of $430.46 million. Equities research analysts expect that Ero Copper Corp. will post 0.71 EPS for the current year.

Ero Copper 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.