Jennison Associates LLC Acquires 198,800 Shares of Ero Copper Corp. (NYSE:ERO)

Jennison Associates LLC lifted its holdings in Ero Copper Corp. (NYSE:ERO) by 3.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,909,627 shares of the company’s stock after buying an additional 198,800 shares during the period. Jennison Associates LLC owned approximately 0.06% of Ero Copper worth $79,645,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Impala Asset Management LLC boosted its holdings in shares of Ero Copper by 12.7% in the 3rd quarter. Impala Asset Management LLC now owns 2,209,610 shares of the company’s stock worth $49,208,000 after purchasing an additional 248,390 shares during the period. FMR LLC lifted its position in Ero Copper by 1.8% in the third quarter. FMR LLC now owns 11,869,851 shares of the company’s stock worth $264,262,000 after buying an additional 206,405 shares during the last quarter. Temasek Holdings Private Ltd boosted its stake in Ero Copper by 41.2% during the third quarter. Temasek Holdings Private Ltd now owns 542,421 shares of the company’s stock worth $12,080,000 after buying an additional 158,294 shares during the period. Mirabella Financial Services LLP increased its position in Ero Copper by 608.2% during the third quarter. Mirabella Financial Services LLP now owns 143,252 shares of the company’s stock valued at $3,189,000 after acquiring an additional 123,023 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Ero Copper by 32.9% in the second quarter. Dimensional Fund Advisors LP now owns 464,047 shares of the company’s stock valued at $9,922,000 after acquiring an additional 115,002 shares during the period. 71.30% of the stock is currently owned by hedge funds and other institutional investors.

Ero Copper Trading Down 0.5 %

Shares of ERO opened at $13.34 on Tuesday. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 78.44 and a beta of 1.14. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.68 and a quick ratio of 0.45. Ero Copper Corp. has a 1-year low of $12.78 and a 1-year high of $24.34. The company has a 50-day moving average of $14.07 and a 200 day moving average of $17.57.

Ero Copper (NYSE:ERO) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.05. Ero Copper had a net margin of 3.67% and a return on equity of 11.30%. The firm had revenue of $124.80 million during the quarter, compared to the consensus estimate of $148.80 million. During the same quarter in the previous year, the firm posted $0.18 earnings per share. On average, research analysts expect that Ero Copper Corp. will post 0.92 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. StockNews.com raised shares of Ero Copper from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. The Goldman Sachs Group started coverage on Ero Copper in a research report on Monday, December 2nd. They set a “buy” rating and a $19.00 target price for the company. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $26.33.

Ero Copper 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.