Jennison Associates LLC Cuts Holdings in Ero Copper Corp. $ERO

Jennison Associates LLC decreased its holdings in Ero Copper Corp. (NYSE:ERO) by 9.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,647,950 shares of the company’s stock after selling 176,263 shares during the period. Jennison Associates LLC owned about 1.58% of Ero Copper worth $43,951,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. FIL Ltd boosted its position in Ero Copper by 74.1% during the 4th quarter. FIL Ltd now owns 11,670,422 shares of the company’s stock valued at $330,161,000 after acquiring an additional 4,966,427 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Ero Copper by 10.7% during the 4th quarter. Invesco Ltd. now owns 2,827,385 shares of the company’s stock worth $79,987,000 after purchasing an additional 273,470 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Ero Copper by 77.6% during the 4th quarter. Vanguard Group Inc. now owns 2,546,856 shares of the company’s stock worth $72,051,000 after purchasing an additional 1,112,428 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Ero Copper by 11.1% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,507,087 shares of the company’s stock worth $50,794,000 after purchasing an additional 250,303 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in Ero Copper by 82.6% during the second quarter. Bank of America Corp DE now owns 1,775,632 shares of the company’s stock valued at $29,919,000 after purchasing an additional 803,320 shares in the last quarter. Hedge funds and other institutional investors own 71.30% of the company’s stock.

Ero Copper Trading Up 4.1%

NYSE ERO opened at $25.12 on Tuesday. Ero Copper Corp. has a 12-month low of $12.79 and a 12-month high of $39.80. The company has a fifty day simple moving average of $27.60 and a two-hundred day simple moving average of $28.83. The company has a current ratio of 1.30, a quick ratio of 0.81 and a debt-to-equity ratio of 0.50. The stock has a market cap of $2.62 billion, a P/E ratio of 8.94, a P/E/G ratio of 0.19 and a beta of 1.20.

Ero Copper (NYSE:ERO) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.13. The firm had revenue of $263.20 million for the quarter, compared to analyst estimates of $245.51 million. Ero Copper had a net margin of 31.63% and a return on equity of 27.33%. On average, analysts forecast that Ero Copper Corp. will post 3.98 earnings per share for the current year.

Analysts Set New Price Targets

ERO has been the topic of several analyst reports. Wall Street Zen lowered Ero Copper from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. The Goldman Sachs Group cut shares of Ero Copper from a “buy” rating to a “neutral” rating and lowered their price target for the company from $33.00 to $31.00 in a report on Tuesday, April 14th. National Bank Financial raised shares of Ero Copper from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, May 5th. Bank of America upgraded shares of Ero Copper from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $30.00 to $34.00 in a research note on Thursday, July 16th. Finally, Scotiabank reissued an “outperform” rating on shares of Ero Copper in a research report on Monday, June 15th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $32.33.

About Ero Copper

Ero Copper Corp (NYSE: ERO) is a Canada-based natural resource company focused on the production of copper concentrate from its Brazilian operations. The company’s flagship asset is the Vale do Curaçá mining complex in the state of Bahia, which includes multiple underground mines and a centralized processing facility. Ero Copper’s primary product is copper concentrate, which is sold to smelters and end users around the world.

The Vale do Curaçá complex comprises the Pilar and Surubim underground mines, supported by a fully integrated processing plant.