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

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

Ero Copper Stock Down 2.5 %

Shares of Ero Copper stock opened at $20.09 on Wednesday. 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 firm has a market cap of $2.06 billion, a P/E ratio of 20.50 and a beta of 1.26. Ero Copper has a fifty-two week low of $11.35 and a fifty-two week high of $24.38. The business has a 50-day moving average price of $18.01 and a 200 day moving average price of $15.75.

Ero Copper (NYSE:ERO) last announced its quarterly earnings data on Thursday, March 7th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.02). Ero Copper had a net margin of 21.71% and a return on equity of 13.16%. The firm had revenue of $116.41 million during the quarter, compared to the consensus estimate of $104.20 million. During the same period in the prior year, the firm earned $0.24 earnings per share. On average, sell-side analysts forecast that Ero Copper will post 1.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ero Copper

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Timelo Investment Management Inc. acquired a new position in Ero Copper in the fourth quarter valued at approximately $987,000. Montrusco Bolton Investments Inc. boosted its stake in Ero Copper by 245.2% in the third quarter. Montrusco Bolton Investments Inc. now owns 642,010 shares of the company’s stock valued at $11,121,000 after acquiring an additional 456,033 shares during the period. Jennison Associates LLC boosted its position in shares of Ero Copper by 4.9% during the third quarter. Jennison Associates LLC now owns 3,544,861 shares of the company’s stock worth $61,161,000 after buying an additional 165,982 shares during the period. Public Sector Pension Investment Board boosted its position in shares of Ero Copper by 3.9% during the third quarter. Public Sector Pension Investment Board now owns 175,208 shares of the company’s stock worth $3,035,000 after buying an additional 6,631 shares during the period. Finally, Impala Asset Management LLC boosted its position in shares of Ero Copper by 23.1% during the third 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 period. 71.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ERO shares. Pi Financial lowered Ero Copper from a “buy” rating to a “neutral” rating in a research report on Friday, March 8th. TheStreet raised 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, Ero Copper has a consensus rating of “Hold” and a consensus target price of $24.00.

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.