Short Interest in Ero Copper Corp. (NYSE:ERO) Grows By 6.7%

Ero Copper Corp. (NYSE:ERO) was the target of a significant increase in short interest in December. As of December 15th, there was short interest totalling 2,560,000 shares, an increase of 6.7% from the November 30th total of 2,400,000 shares. Currently, 2.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 367,400 shares, the days-to-cover ratio is currently 7.0 days.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Raymond James upgraded shares of Ero Copper from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 3rd. The Goldman Sachs Group started coverage on shares of Ero Copper in a research report on Monday, December 2nd. They issued a “buy” rating and a $19.00 price target on the stock. StockNews.com raised shares of Ero Copper from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. Finally, Bank of America assumed coverage on Ero Copper in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $28.00 target price on the stock. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Ero Copper presently has an average rating of “Buy” and an average target price of $26.33.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Exchange Traded Concepts LLC acquired a new stake in shares of Ero Copper during the third quarter worth $38,000. Toronto Dominion Bank grew its holdings in Ero Copper by 38.7% in the 2nd quarter. Toronto Dominion Bank now owns 2,539 shares of the company’s stock valued at $54,000 after buying an additional 709 shares during the period. Chesapeake Capital Corp IL acquired a new position in shares of Ero Copper during the 2nd quarter valued at about $351,000. Sentry Investment Management LLC purchased a new position in shares of Ero Copper during the 3rd quarter worth about $457,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Ero Copper by 6.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,933 shares of the company’s stock worth $469,000 after acquiring an additional 1,277 shares during the last quarter. 71.30% of the stock is currently owned by institutional investors and hedge funds.

Ero Copper Trading Up 1.2 %

Shares of NYSE:ERO traded up $0.16 during trading on Wednesday, reaching $13.48. The stock had a trading volume of 351,714 shares, compared to its average volume of 341,842. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 0.71. The stock has a market cap of $1.39 billion, a P/E ratio of 79.29 and a beta of 1.12. The business has a fifty day moving average price of $15.53 and a 200-day moving average price of $18.78. Ero Copper has a fifty-two week low of $12.78 and a fifty-two week high of $24.34.

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.