Ero Copper Corp. (NYSE:ERO) Short Interest Up 26.2% in June

Ero Copper Corp. (NYSE:ERO) saw a large growth in short interest in 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. Currently, 2.2% of the company’s stock are short sold. Based on an average daily volume of 403,900 shares, the short-interest ratio is presently 5.1 days.

Ero Copper Stock Performance

NYSE:ERO opened at $21.30 on Tuesday. The company has a quick ratio of 0.60, a current ratio of 0.82 and a debt-to-equity ratio of 0.59. Ero Copper has a fifty-two week low of $11.35 and a fifty-two week high of $24.38. The firm’s fifty day simple moving average is $21.15 and its 200-day simple moving average is $18.58. The stock has a market cap of $2.20 billion, a PE ratio of 32.77 and a beta of 1.19.

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

Institutional Investors Weigh In On Ero Copper

Several institutional investors and hedge funds have recently made changes to their positions in the business. Acuitas Investments LLC lifted its holdings in shares of Ero Copper by 61.5% in the fourth quarter. Acuitas Investments LLC now owns 2,100 shares of the company’s stock valued at $33,000 after purchasing an additional 800 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in Ero Copper during the fourth quarter worth $79,000. Platinum Investment Management Ltd. purchased a new position in Ero Copper during the fourth quarter worth $257,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Ero Copper by 21.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,656 shares of the company’s stock worth $328,000 after acquiring an additional 3,632 shares during the last quarter. Finally, Aigen Investment Management LP purchased a new position in shares of Ero Copper in the 4th quarter valued at $356,000. 71.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ERO has been the topic of a number of recent research reports. TheStreet upgraded shares of Ero Copper from a “c” rating to a “b-” rating in a research note on Friday, March 8th. Jefferies Financial Group started coverage on shares of Ero Copper in a research report on Friday, May 3rd. They set a “hold” rating for the company. Scotiabank upgraded Ero Copper from a “sector perform” rating to a “sector outperform” rating in a research note on Thursday, May 30th. BMO Capital Markets raised Ero Copper from a “market perform” rating to an “outperform” rating in a research report on Wednesday, June 26th. Finally, Ventum Cap Mkts lowered Ero Copper from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold”.

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.