Balyasny Asset Management L.P. Makes New Investment in Ero Copper Corp. (NYSE:ERO)

Balyasny Asset Management L.P. acquired a new stake in Ero Copper Corp. (NYSE:ERO) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 13,731 shares of the company’s stock, valued at approximately $185,000.

Several other institutional investors also recently modified their holdings of the company. Bank of America Corp DE boosted its stake in shares of Ero Copper by 46.2% during the 4th quarter. Bank of America Corp DE now owns 412,925 shares of the company’s stock worth $5,566,000 after acquiring an additional 130,524 shares during the period. BNP Paribas Financial Markets acquired a new stake in Ero Copper during the 4th quarter valued at $146,000. 683 Capital Management LLC boosted its position in Ero Copper by 20.4% during the fourth quarter. 683 Capital Management LLC now owns 2,468,367 shares of the company’s stock worth $33,272,000 after purchasing an additional 418,367 shares during the period. Kapitalo Investimentos Ltda increased its holdings in shares of Ero Copper by 12.9% in the fourth quarter. Kapitalo Investimentos Ltda now owns 578,767 shares of the company’s stock valued at $7,802,000 after purchasing an additional 65,997 shares during the last quarter. Finally, PDT Partners LLC increased its holdings in shares of Ero Copper by 50.9% in the fourth quarter. PDT Partners LLC now owns 106,028 shares of the company’s stock valued at $1,429,000 after purchasing an additional 35,767 shares during the last quarter. 71.30% of the stock is currently owned by institutional investors and hedge funds.

Ero Copper Trading Down 3.9%

Shares of ERO stock opened at $13.09 on Monday. The stock has a market cap of $1.36 billion, a P/E ratio of 76.99 and a beta of 1.10. Ero Copper Corp. has a 1 year low of $9.30 and a 1 year high of $24.34. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 0.71. The stock has a 50 day simple moving average of $12.24 and a 200 day simple moving average of $13.51.

Ero Copper (NYSE:ERO) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.18. The firm had revenue of $125.10 million during the quarter, compared to analysts’ expectations of $179.45 million. Ero Copper had a return on equity of 11.30% and a net margin of 3.67%. On average, research analysts predict that Ero Copper Corp. will post 0.71 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.