Ero Copper Corp. (NYSE:ERO) Sees Large Increase in Short Interest

Ero Copper Corp. (NYSE:ERO) was the recipient of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 2,070,000 shares, a growth of 26.2% from the May 31st total of 1,640,000 shares. Based on an average daily volume of 403,900 shares, the short-interest ratio is currently 5.1 days. Currently, 2.2% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ERO shares. Pi Financial raised shares of Ero Copper from a “neutral” rating to a “buy” rating in a research note on Thursday, April 18th. Jefferies Financial Group started coverage on Ero Copper in a research note on Friday, May 3rd. They set a “hold” rating on the stock. TheStreet raised Ero Copper from a “c” rating to a “b-” rating in a research note on Friday, March 8th. StockNews.com downgraded shares of Ero Copper from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, BMO Capital Markets upgraded shares of Ero Copper from a “market perform” rating to an “outperform” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Ero Copper presently has a consensus rating of “Hold”.

Ero Copper Stock Down 1.7 %

Shares of ERO traded down $0.37 during trading hours on Friday, reaching $21.38. The stock had a trading volume of 256,906 shares, compared to its average volume of 326,850. The firm has a 50-day simple moving average of $21.11 and a 200 day simple moving average of $18.52. Ero Copper has a 12 month low of $11.35 and a 12 month high of $24.38. The company has a current ratio of 0.82, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of 32.89 and a beta of 1.20.

Ero Copper (NYSE:ERO) last posted its earnings results on Tuesday, May 7th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.05 by $0.11. Ero Copper had a net margin of 14.23% and a return on equity of 10.68%. The company had revenue of $105.80 million during the quarter, compared to the consensus estimate of $104.40 million. Equities research analysts predict that Ero Copper will post 1.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Jennison Associates LLC grew its position in Ero Copper by 39.0% in the 1st quarter. Jennison Associates LLC now owns 3,998,246 shares of the company’s stock worth $77,117,000 after purchasing an additional 1,121,095 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Ero Copper by 25.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,247,918 shares of the company’s stock worth $35,715,000 after purchasing an additional 461,998 shares during the period. Impala Asset Management LLC boosted its holdings in shares of Ero Copper by 23.1% in the 3rd quarter. Impala Asset Management LLC now owns 1,836,510 shares of the company’s stock worth $31,661,000 after buying an additional 344,410 shares during the last quarter. Montrusco Bolton Investments Inc. boosted its holdings in shares of Ero Copper by 31.7% in the 4th quarter. Montrusco Bolton Investments Inc. now owns 845,623 shares of the company’s stock worth $13,435,000 after buying an additional 203,613 shares during the last quarter. Finally, Fiera Capital Corp grew its position in Ero Copper by 24.1% during the fourth quarter. Fiera Capital Corp now owns 785,104 shares of the company’s stock valued at $12,454,000 after buying an additional 152,245 shares during the period. Institutional investors own 71.30% of the company’s stock.

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.