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Jennison Associates LLC Lowers Stake in Ero Copper Corp. (NYSE:ERO)

Ero Copper logo with Basic Materials background

Jennison Associates LLC cut its holdings in shares of Ero Copper Corp. (NYSE:ERO - Free Report) by 11.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,227,460 shares of the company's stock after selling 682,167 shares during the period. Jennison Associates LLC owned approximately 5.05% of Ero Copper worth $63,345,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Acuitas Investments LLC acquired a new position in Ero Copper in the 1st quarter worth about $39,000. State of Wyoming bought a new position in Ero Copper during the fourth quarter worth $76,000. Northwest & Ethical Investments L.P. raised its holdings in Ero Copper by 19.1% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 6,550 shares of the company's stock valued at $88,000 after acquiring an additional 1,050 shares in the last quarter. TD Waterhouse Canada Inc. raised its stake in shares of Ero Copper by 128.4% in the 4th quarter. TD Waterhouse Canada Inc. now owns 10,672 shares of the company's stock valued at $143,000 after buying an additional 6,000 shares in the last quarter. Finally, Deutsche Bank AG boosted its holdings in Ero Copper by 59.5% during the fourth quarter. Deutsche Bank AG now owns 10,700 shares of the company's stock valued at $144,000 after purchasing an additional 3,990 shares in the last quarter. Institutional investors own 71.30% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on ERO shares. Stifel Nicolaus assumed coverage on shares of Ero Copper in a research note on Wednesday, July 9th. They issued a "buy" rating for the company. Raymond James Financial raised Ero Copper to a "moderate buy" rating in a research note on Monday, June 30th. National Bankshares cut shares of Ero Copper from an "outperform" rating to a "sector perform" rating in a report on Tuesday, July 8th. Stifel Canada upgraded shares of Ero Copper to a "strong-buy" rating in a research note on Tuesday, July 8th. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Ero Copper in a report on Friday, July 4th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $23.50.

Get Our Latest Research Report on Ero Copper

Ero Copper Stock Up 1.6%

Ero Copper stock traded up $0.24 during midday trading on Tuesday, hitting $14.70. 712,049 shares of the stock were exchanged, compared to its average volume of 455,276. Ero Copper Corp. has a 52-week low of $9.30 and a 52-week high of $23.40. The business's 50-day moving average price is $15.09 and its 200-day moving average price is $13.60. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 86.45 and a beta of 1.18. The company has a quick ratio of 0.80, a current ratio of 1.05 and a debt-to-equity ratio of 0.83.

Ero Copper (NYSE:ERO - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.18. Ero Copper had a return on equity of 14.24% and a net margin of 3.87%. The company had revenue of $125.10 million during the quarter, compared to analyst estimates of $179.45 million. On average, research analysts expect that Ero Copper Corp. will post 0.71 EPS for the current fiscal year.

Ero Copper Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Ero Copper (NYSE:ERO)

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