5 Best Value Stocks to Buy According to Robert Bishop’s Impala Asset Management

3. Ero Copper Corp. (NYSE:ERO)

Number of Hedge Fund Holders: 10

P/E Ratio as of May 25: 5.08

Ero Copper Corp. (NYSE:ERO) was incorporated in 2016 and is headquartered in Vancouver, Canada. It is a base metals mining company, engaged in the exploration and development of mining projects in Brazil. Robert Bishop’s Impala Asset Management boosted its stake in Ero Copper Corp. (NYSE:ERO) by 15%, holding 2.30 million shares worth $33.8 million. 

On May 11, TD Securities analyst Craig Hutchison lowered the price target on Ero Copper Corp. (NYSE:ERO) to C$23 from C$25 and kept a Buy rating on the shares.

Ero Copper Corp. (NYSE:ERO) posted earnings for Q1 2022 on May 9, reporting Q1 non-GAAP earnings per share of $0.36. The revenue of $108.9 million outperformed estimates by $1.66 million. In FY2022, copper production is presently expected to be at the upper-end of the guidance range of 43,000 – 46,000 tonnes. 

Among the hedge funds tracked by Insider Monkey, 10 funds were bullish on Ero Copper Corp. (NYSE:ERO) at the end of Q1 2022, compared to 8 funds in the earlier quarter. Ari Zweiman’s 683 Capital Partners is a prominent shareholder of the company, with 1.5 million shares worth $22.3 million.