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

Jennison Associates LLC raised its position in Ero Copper Corp. (NYSE:ERO - Free Report) by 4.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,710,827 shares of the company's stock after purchasing an additional 237,345 shares during the quarter. Jennison Associates LLC owned about 5.53% of Ero Copper worth $127,149,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in ERO. Exchange Traded Concepts LLC acquired a new stake in Ero Copper in the 3rd quarter valued at about $38,000. Toronto Dominion Bank increased its stake in shares of Ero Copper by 38.7% in 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 second quarter worth about $351,000. Sentry Investment Management LLC acquired a new stake in Ero Copper during the third quarter worth about $457,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Ero Copper by 6.2% during the second 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. 71.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ERO. StockNews.com raised Ero Copper from a "sell" rating to a "hold" rating in a report on Friday, October 25th. Raymond James upgraded shares of Ero Copper from a "market perform" rating to an "outperform" rating in a research report on Tuesday, September 3rd. Jefferies Financial Group upgraded shares of Ero Copper from a "hold" rating to a "buy" rating in a research report on Monday, August 5th. Finally, Bank of America initiated coverage on shares of Ero Copper in a research note on Tuesday, September 3rd. They issued a "buy" rating and a $28.00 target price for the company. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $30.00.

Ero Copper Stock Performance

Ero Copper stock traded down $0.04 during trading hours on Thursday, hitting $15.89. The company had a trading volume of 242,460 shares, compared to its average volume of 336,216. The firm has a market cap of $1.64 billion, a PE ratio of 93.71 and a beta of 1.23. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.82 and a quick ratio of 0.60. Ero Copper Corp. has a one year low of $11.96 and a one year high of $24.34. The firm has a 50-day moving average of $19.57 and a 200 day moving average of $20.31.

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.