Short Interest in Ero Copper Corp. (NYSE:ERO) Grows By 10.2%

Ero Copper Corp. (NYSE:ERO) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 1,730,000 shares, an increase of 10.2% from the March 15th total of 1,570,000 shares. Approximately 1.9% of the company’s shares are sold short. Based on an average trading volume of 324,000 shares, the days-to-cover ratio is presently 5.3 days.

Wall Street Analysts Forecast Growth

ERO has been the topic of several recent analyst reports. TheStreet upgraded shares of Ero Copper from a “c” rating to a “b-” rating in a report on Friday, March 8th. Pi Financial lowered shares of Ero Copper from a “buy” rating to a “neutral” rating in a report on Friday, March 8th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $24.00.

Ero Copper Price Performance

Ero Copper stock opened at $20.09 on Wednesday. The firm has a market cap of $2.06 billion, a PE ratio of 20.50 and a beta of 1.26. Ero Copper has a 52-week low of $11.35 and a 52-week high of $24.38. The company has a quick ratio of 0.94, a current ratio of 1.23 and a debt-to-equity ratio of 0.65. The company’s 50 day moving average is $18.01 and its two-hundred day moving average is $15.75.

Ero Copper (NYSE:ERO) last released its earnings results on Thursday, March 7th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). The business had revenue of $116.41 million for the quarter, compared to analyst estimates of $104.20 million. Ero Copper had a return on equity of 13.16% and a net margin of 21.71%. During the same quarter last year, the company earned $0.24 earnings per share. On average, research analysts expect that Ero Copper will post 1.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Ero Copper

Hedge funds have recently added to or reduced their stakes in the business. Acuitas Investments LLC increased its position in shares of Ero Copper by 61.5% in the 4th quarter. Acuitas Investments LLC now owns 2,100 shares of the company’s stock valued at $33,000 after purchasing an additional 800 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of Ero Copper by 7.8% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 11,636 shares of the company’s stock valued at $201,000 after purchasing an additional 843 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Ero Copper by 2.1% in the 4th quarter. Envestnet Asset Management Inc. now owns 59,588 shares of the company’s stock valued at $941,000 after purchasing an additional 1,240 shares during the last quarter. Raymond James & Associates increased its position in shares of Ero Copper by 2.7% in the 4th quarter. Raymond James & Associates now owns 50,551 shares of the company’s stock valued at $798,000 after purchasing an additional 1,346 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of Ero Copper by 2.4% in the 3rd quarter. Legal & General Group Plc now owns 61,306 shares of the company’s stock valued at $1,062,000 after purchasing an additional 1,459 shares during the last quarter. 71.30% of the stock is currently owned by institutional investors and hedge funds.

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.