Ero Copper Corp. $ERO Shares Acquired by Jennison Associates LLC

Jennison Associates LLC raised its position in shares of Ero Copper Corp. (NYSE:ERO) by 5.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,487,290 shares of the company’s stock after acquiring an additional 259,830 shares during the quarter. Jennison Associates LLC owned approximately 0.05% of Ero Copper worth $92,651,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ERO. Acuitas Investments LLC acquired a new position in shares of Ero Copper during the first quarter valued at approximately $39,000. Northwest & Ethical Investments L.P. raised its holdings in shares of Ero Copper by 22.6% during the first quarter. Northwest & Ethical Investments L.P. now owns 8,033 shares of the company’s stock valued at $97,000 after acquiring an additional 1,483 shares during the last quarter. Letko Brosseau & Associates Inc. acquired a new position in shares of Ero Copper during the first quarter valued at approximately $176,000. Virtu Financial LLC acquired a new position in shares of Ero Copper during the first quarter valued at approximately $180,000. Finally, XTX Topco Ltd acquired a new position in shares of Ero Copper during the first quarter valued at approximately $188,000. Institutional investors and hedge funds own 71.30% of the company’s stock.

Ero Copper Price Performance

ERO stock opened at $21.45 on Thursday. The business has a fifty day moving average of $18.55 and a two-hundred day moving average of $15.70. The company has a quick ratio of 0.80, a current ratio of 1.05 and a debt-to-equity ratio of 0.83. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of 15.66 and a beta of 1.24. Ero Copper Corp. has a 52-week low of $9.30 and a 52-week high of $24.48.

Ero Copper (NYSE:ERO) last posted its earnings results on Thursday, July 31st. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.13. The company had revenue of $163.50 million during the quarter, compared to analysts’ expectations of $263.23 million. Ero Copper had a return on equity of 17.96% and a net margin of 26.63%. As a group, research analysts anticipate that Ero Copper Corp. will post 0.71 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have commented on ERO. Canaccord Genuity Group cut Ero Copper from a “strong-buy” rating to a “hold” rating in a report on Friday, October 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ero Copper in a report on Wednesday, October 8th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Ero Copper in a report on Friday, July 4th. Scotiabank reaffirmed a “sector perform” rating on shares of Ero Copper in a report on Tuesday. Finally, Stifel Canada cut Ero Copper from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $25.00.

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.