Jennison Associates LLC Sells 667,710 Shares of Ero Copper Corp. (NYSE:ERO)

Jennison Associates LLC decreased its position in shares of Ero Copper Corp. (NYSE:ERO - Free Report) by 18.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,877,151 shares of the company's stock after selling 667,710 shares during the quarter. Jennison Associates LLC owned approximately 2.80% of Ero Copper worth $45,467,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. National Bank of Canada FI increased its position in Ero Copper by 5.0% in the 3rd quarter. National Bank of Canada FI now owns 116,055 shares of the company's stock valued at $1,881,000 after acquiring an additional 5,520 shares during the period. Mackenzie Financial Corp increased its position in Ero Copper by 9.5% in the 3rd quarter. Mackenzie Financial Corp now owns 40,093 shares of the company's stock valued at $691,000 after acquiring an additional 3,468 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Ero Copper by 6.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,785,920 shares of the company's stock valued at $30,937,000 after acquiring an additional 104,436 shares during the period. CIBC Asset Management Inc increased its position in Ero Copper by 10.3% in the 3rd quarter. CIBC Asset Management Inc now owns 87,349 shares of the company's stock valued at $1,511,000 after acquiring an additional 8,165 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in Ero Copper in the 3rd quarter valued at approximately $131,000. Hedge funds and other institutional investors own 71.30% of the company's stock.

Ero Copper Price Performance

Shares of NYSE:ERO traded down $0.62 during trading on Wednesday, hitting $18.61. 458,473 shares of the stock were exchanged, compared to its average volume of 334,350. The company has a fifty day moving average price of $18.55 and a two-hundred day moving average price of $15.90. The company has a market cap of $1.91 billion, a PE ratio of 18.99 and a beta of 1.26. The company has a current ratio of 1.23, a quick ratio of 0.94 and a debt-to-equity ratio of 0.65. Ero Copper Corp. has a 12-month low of $11.35 and a 12-month high of $24.38.

Ero Copper (NYSE:ERO - Get Free Report) last announced its quarterly earnings results on Thursday, March 7th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.02). The firm had revenue of $116.41 million for 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 last year, the firm earned $0.24 EPS. On average, analysts forecast that Ero Copper Corp. will post 1.48 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. TheStreet raised Ero Copper from a "c" rating to a "b-" rating in a report on Friday, March 8th. Pi Financial raised Ero Copper from a "neutral" rating to a "buy" rating in a report on Thursday, April 18th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $24.00.

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.