Jennison Associates LLC Has $45.47 Million Position in Ero Copper Corp. (NYSE:ERO)

Jennison Associates LLC lessened its position in Ero Copper Corp. (NYSE:ERO) by 18.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,877,151 shares of the company’s stock after selling 667,710 shares during the quarter. Jennison Associates LLC’s holdings in Ero Copper were worth $45,467,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC increased its holdings in Ero Copper by 3.7% in the 3rd quarter. FMR LLC now owns 10,719,365 shares of the company’s stock worth $184,832,000 after purchasing an additional 379,686 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Ero Copper by 25.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,247,918 shares of the company’s stock valued at $35,715,000 after buying an additional 461,998 shares during the period. Impala Asset Management LLC increased its stake in shares of Ero Copper by 23.1% in the third quarter. Impala Asset Management LLC now owns 1,836,510 shares of the company’s stock valued at $31,661,000 after buying an additional 344,410 shares during the period. Montrusco Bolton Investments Inc. increased its stake in shares of Ero Copper by 245.2% in the third quarter. Montrusco Bolton Investments Inc. now owns 642,010 shares of the company’s stock valued at $11,121,000 after buying an additional 456,033 shares during the period. Finally, Public Sector Pension Investment Board boosted its holdings in Ero Copper by 3.9% in the third quarter. Public Sector Pension Investment Board now owns 175,208 shares of the company’s stock worth $3,035,000 after acquiring an additional 6,631 shares in the last quarter. Institutional investors and hedge funds own 71.30% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on ERO shares. Pi Financial upgraded Ero Copper from a “neutral” rating to a “buy” rating in a report on Thursday, April 18th. TheStreet upgraded Ero Copper from a “c” rating to a “b-” rating in a report on Friday, March 8th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $24.00.

Ero Copper Stock Performance

NYSE:ERO opened at $19.23 on Wednesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.23 and a quick ratio of 0.94. The business has a fifty day simple moving average of $18.46 and a two-hundred day simple moving average of $15.88. Ero Copper Corp. has a 1 year low of $11.35 and a 1 year high of $24.38. The company has a market capitalization of $1.98 billion, a P/E ratio of 19.62 and a beta of 1.26.

Ero Copper (NYSE:ERO) last released its earnings results on Thursday, March 7th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). The firm had revenue of $116.41 million during the quarter, compared to analysts’ expectations of $104.20 million. Ero Copper had a return on equity of 13.16% and a net margin of 21.71%. During the same period in the prior year, the business earned $0.24 earnings per share. On average, analysts expect that Ero Copper Corp. will post 1.48 earnings per share for the current year.

About Ero Copper

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.