Jennison Associates LLC Cuts Holdings in Ero Copper Corp. (NYSE:ERO)

Jennison Associates LLC reduced its position in Ero Copper Corp. (NYSE:ERO - Free Report) by 11.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,227,460 shares of the company's stock after selling 682,167 shares during the quarter. Jennison Associates LLC owned 5.05% of Ero Copper worth $63,345,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Acuitas Investments LLC purchased a new stake in shares of Ero Copper during the 1st quarter valued at $39,000. State of Wyoming purchased a new stake in shares of Ero Copper during the fourth quarter worth about $76,000. Northwest & Ethical Investments L.P. increased its holdings in shares of Ero Copper by 19.1% during the fourth 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 position 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 purchasing an additional 6,000 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in Ero Copper by 59.5% in the 4th quarter. Deutsche Bank AG now owns 10,700 shares of the company's stock worth $144,000 after purchasing an additional 3,990 shares in the last quarter. Hedge funds and other institutional investors own 71.30% of the company's stock.

Analyst Upgrades and Downgrades

ERO has been the subject of a number of research analyst reports. Stifel Nicolaus started coverage on shares of Ero Copper in a report on Wednesday, July 9th. They issued a "buy" rating for the company. Stifel Canada raised Ero Copper to a "strong-buy" rating in a report on Tuesday, July 8th. Wall Street Zen downgraded Ero Copper from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. National Bankshares downgraded shares of Ero Copper from an "outperform" rating to a "sector perform" rating in a report on Tuesday, July 8th. Finally, Raymond James Financial upgraded shares of Ero Copper to a "moderate buy" rating in a research note on Monday, June 30th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $23.50.

Ero Copper Price Performance

Shares of Ero Copper stock traded up $0.24 during trading hours on Monday, reaching $14.45. The stock had a trading volume of 744,947 shares, compared to its average volume of 451,690. The firm has a market capitalization of $1.50 billion, a PE ratio of 84.86 and a beta of 1.18. Ero Copper Corp. has a twelve month low of $9.30 and a twelve month high of $23.40. The company has a current ratio of 1.05, a quick ratio of 0.80 and a debt-to-equity ratio of 0.83. The stock's 50 day moving average is $15.09 and its 200 day moving average is $13.60.

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

Ero Copper Company 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.