Ero Copper Corp. (NYSE:ERO) Sees Significant Growth in Short Interest

Ero Copper Corp. (NYSE:ERO) saw a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 2,560,000 shares, a growth of 6.7% from the November 30th total of 2,400,000 shares. Currently, 2.7% of the shares of the stock are short sold. Based on an average trading volume of 367,400 shares, the short-interest ratio is presently 7.0 days.

Ero Copper Price Performance

Ero Copper stock opened at $13.48 on Thursday. The stock’s 50 day moving average is $15.53 and its 200 day moving average is $18.78. Ero Copper has a one year low of $12.78 and a one year high of $24.34. The firm has a market cap of $1.39 billion, a P/E ratio of 79.29 and a beta of 1.12. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.68 and a quick ratio of 0.45.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ERO. Toronto Dominion Bank boosted its position in shares of Ero Copper by 38.7% during the 2nd quarter. Toronto Dominion Bank now owns 2,539 shares of the company’s stock valued at $54,000 after purchasing an additional 709 shares in the last quarter. National Bank of Canada FI grew its position in shares of Ero Copper by 1.4% during the 2nd quarter. National Bank of Canada FI now owns 58,271 shares of the company’s stock worth $1,238,000 after buying an additional 793 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Ero Copper by 6.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,933 shares of the company’s stock valued at $469,000 after acquiring an additional 1,277 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of Ero Copper during the 3rd quarter valued at $38,000. Finally, Pinpoint Asset Management Ltd boosted its stake in Ero Copper by 7.2% during the third quarter. Pinpoint Asset Management Ltd now owns 42,372 shares of the company’s stock worth $944,000 after acquiring an additional 2,856 shares in the last quarter. Institutional investors and hedge funds own 71.30% of the company’s stock.

Wall Street Analyst Weigh In

ERO has been the subject of a number of recent research reports. StockNews.com raised Ero Copper from a “sell” rating to a “hold” rating in a report on Friday, October 25th. The Goldman Sachs Group assumed coverage on Ero Copper in a report on Monday, December 2nd. They set a “buy” rating and a $19.00 price target on the stock. One research 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $26.33.

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.