Jennison Associates LLC Acquires 237,345 Shares of Ero Copper Corp. (NYSE:ERO)

Jennison Associates LLC grew its holdings in Ero Copper Corp. (NYSE:ERO) by 4.3% during the third quarter, Holdings Channel reports. The firm owned 5,710,827 shares of the company’s stock after acquiring an additional 237,345 shares during the quarter. Jennison Associates LLC owned about 0.06% of Ero Copper worth $127,149,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Exchange Traded Concepts LLC acquired a new position in Ero Copper during the 3rd quarter worth approximately $38,000. Toronto Dominion Bank raised its position in shares of Ero Copper by 38.7% during the second quarter. Toronto Dominion Bank now owns 2,539 shares of the company’s stock worth $54,000 after purchasing an additional 709 shares during the period. Chesapeake Capital Corp IL bought a new position in shares of Ero Copper in the 2nd quarter worth $351,000. Sentry Investment Management LLC acquired a new stake in Ero Copper in the 3rd quarter valued at $457,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Ero Copper by 6.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,933 shares of the company’s stock valued at $469,000 after purchasing an additional 1,277 shares in the last quarter. Institutional investors and hedge funds own 71.30% of the company’s stock.

Ero Copper Trading Down 1.1 %

NYSE:ERO opened at $15.93 on Thursday. Ero Copper Corp. has a 52 week low of $11.96 and a 52 week high of $24.34. The firm has a 50-day moving average price of $19.64 and a two-hundred day moving average price of $20.34. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of 94.71 and a beta of 1.23. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 0.82.

Wall Street Analyst Weigh In

ERO has been the topic of a number of recent research reports. Raymond James raised shares of Ero Copper from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 3rd. Bank of America began coverage on Ero Copper in a research note on Tuesday, September 3rd. They set a “buy” rating and a $28.00 price target for the company. Jefferies Financial Group raised Ero Copper from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Finally, StockNews.com upgraded Ero Copper from a “sell” rating to a “hold” rating in a report on Friday, October 25th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $30.00.

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.