PDT Partners LLC Acquires Shares of 70,261 Ero Copper Corp. (NYSE:ERO)

PDT Partners LLC bought a new position in shares of Ero Copper Corp. (NYSE:ERO) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 70,261 shares of the company’s stock, valued at approximately $1,565,000.

Other hedge funds have also modified their holdings of the company. Toronto Dominion Bank increased its position in Ero Copper by 38.7% in the second quarter. Toronto Dominion Bank now owns 2,539 shares of the company’s stock worth $54,000 after purchasing an additional 709 shares during the period. National Bank of Canada FI raised its stake in shares of Ero Copper by 1.4% during the second quarter. National Bank of Canada FI now owns 58,271 shares of the company’s stock worth $1,238,000 after buying an additional 793 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Ero Copper by 6.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,933 shares of the company’s stock valued at $469,000 after buying an additional 1,277 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Ero Copper by 6.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,408 shares of the company’s stock valued at $522,000 after acquiring an additional 1,475 shares during the last quarter. Finally, Exchange Traded Concepts LLC acquired a new stake in Ero Copper during the 3rd quarter worth $38,000. 71.30% of the stock is owned by institutional investors.

Ero Copper Price Performance

Shares of ERO opened at $15.22 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.45 and a current ratio of 0.68. The firm has a market capitalization of $1.57 billion, a PE ratio of 89.53 and a beta of 1.23. The stock has a 50 day simple moving average of $18.82 and a 200 day simple moving average of $19.99. Ero Copper Corp. has a 52-week low of $11.96 and a 52-week high of $24.34.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Jefferies Financial Group raised Ero Copper from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. Raymond James upgraded shares of Ero Copper from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 3rd. StockNews.com upgraded shares of Ero Copper from a “sell” rating to a “hold” rating in a report on Friday, October 25th. Finally, Bank of America assumed coverage on shares of Ero Copper in a report on Tuesday, September 3rd. They issued a “buy” rating and a $28.00 target price on the stock. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Ero Copper currently has a consensus rating of “Buy” and an average price target of $30.00.

Ero Copper 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.