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

Ero Copper Corp. (NYSE:ERO) was the recipient of a significant increase in short interest in 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. Currently, 1.9% of the company’s shares are sold short. Based on an average daily volume of 324,000 shares, the days-to-cover ratio is presently 5.3 days.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Kapitalo Investimentos Ltda acquired a new position in shares of Ero Copper during the fourth quarter worth $5,763,000. Goldman Sachs Group Inc. lifted its position in shares of Ero Copper by 52.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 695,823 shares of the company’s stock worth $10,987,000 after purchasing an additional 240,461 shares in the last quarter. FIL Ltd lifted its position in shares of Ero Copper by 105.5% during the fourth quarter. FIL Ltd now owns 4,883,502 shares of the company’s stock worth $77,212,000 after purchasing an additional 2,507,239 shares in the last quarter. Impala Asset Management LLC lifted its position in shares of Ero Copper by 17.1% during the fourth quarter. Impala Asset Management LLC now owns 2,150,870 shares of the company’s stock worth $33,331,000 after purchasing an additional 314,360 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Ero Copper by 5.7% during the fourth quarter. Legal & General Group Plc now owns 64,806 shares of the company’s stock worth $1,030,000 after purchasing an additional 3,500 shares in the last quarter. 71.30% of the stock is owned by institutional investors and hedge funds.

Ero Copper Trading Down 2.5 %

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

Ero Copper (NYSE:ERO) last announced its quarterly earnings results on Thursday, March 7th. The company reported $0.21 earnings per share 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 net margin of 21.71% and a return on equity of 13.16%. During the same period last year, the firm earned $0.24 earnings per share. On average, analysts anticipate that Ero Copper will post 1.56 EPS for the current year.

Analyst Upgrades and Downgrades

ERO has been the subject of a number of recent analyst reports. Pi Financial downgraded shares of Ero Copper from a “buy” rating to a “neutral” rating in a report on Friday, March 8th. TheStreet raised shares of Ero Copper from a “c” rating to a “b-” rating in a research report on Friday, March 8th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $24.00.

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.