Impala Asset Management LLC Increases Stock Position in Ero Copper Corp. (NYSE:ERO)

Impala Asset Management LLC increased its position in shares of Ero Copper Corp. (NYSE:ERO) by 12.7% during the 3rd quarter, Holdings Channel reports. The firm owned 2,209,610 shares of the company’s stock after acquiring an additional 248,390 shares during the period. Ero Copper comprises 34.2% of Impala Asset Management LLC’s investment portfolio, making the stock its biggest position. Impala Asset Management LLC’s holdings in Ero Copper were worth $49,208,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Goehring & Rozencwajg Associates LLC raised its position in shares of Ero Copper by 22.5% during the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 340,008 shares of the company’s stock valued at $7,266,000 after purchasing an additional 62,500 shares during the period. Old West Investment Management LLC grew its stake in Ero Copper by 100.0% during the third quarter. Old West Investment Management LLC now owns 160,000 shares of the company’s stock valued at $3,563,000 after acquiring an additional 80,000 shares in the last quarter. Lighthouse Investment Partners LLC purchased a new position in Ero Copper during the second quarter valued at $2,521,000. Intact Investment Management Inc. purchased a new position in Ero Copper during the third quarter valued at $670,000. Finally, Mirabella Financial Services LLP grew its stake in Ero Copper by 608.2% during the third quarter. Mirabella Financial Services LLP now owns 143,252 shares of the company’s stock valued at $3,189,000 after acquiring an additional 123,023 shares in the last quarter. 71.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Ero Copper in a research note on Monday, December 2nd. They set a “buy” rating and a $19.00 target price for the company. StockNews.com raised shares of Ero Copper from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. Raymond James raised shares of Ero Copper from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 3rd. Finally, Bank of America assumed 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 for the company. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Ero Copper currently has an average rating of “Buy” and an average target price of $26.33.

Ero Copper Stock Performance

Shares of NYSE:ERO opened at $14.79 on Tuesday. Ero Copper Corp. has a 52 week low of $13.22 and a 52 week high of $24.34. The stock has a market capitalization of $1.53 billion, a P/E ratio of 86.97 and a beta of 1.12. The firm has a fifty day simple moving average of $17.92 and a two-hundred day simple moving average of $19.65. 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 Company 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.