Ero Copper Corp. (NYSE:ERO) Sees Large Decline in Short Interest

Ero Copper Corp. (NYSE:EROGet Free Report) was the target of a significant decline in short interest during the month of January. As of January 15th, there was short interest totalling 1,600,000 shares, a decline of 11.6% from the December 31st total of 1,810,000 shares. Currently, 2.0% of the company’s stock are short sold. Based on an average daily trading volume, of 330,700 shares, the days-to-cover ratio is presently 4.8 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on Ero Copper in a research note on Thursday, October 5th. They issued a “hold” rating for the company.

Check Out Our Latest Research Report on Ero Copper

Institutional Investors Weigh In On Ero Copper

Several hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC raised its holdings in shares of Ero Copper by 3.7% in the third quarter. FMR LLC now owns 10,719,365 shares of the company’s stock worth $184,832,000 after buying an additional 379,686 shares during the period. Jennison Associates LLC raised its holdings in shares of Ero Copper by 4.9% in 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. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Ero Copper by 25.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,247,918 shares of the company’s stock worth $35,715,000 after buying an additional 461,998 shares during the period. Impala Asset Management LLC grew its stake in Ero Copper by 23.1% in the third quarter. Impala Asset Management LLC now owns 1,836,510 shares of the company’s stock worth $31,661,000 after purchasing an additional 344,410 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in Ero Copper by 19.9% in the second quarter. Acadian Asset Management LLC now owns 1,447,601 shares of the company’s stock worth $29,294,000 after purchasing an additional 240,145 shares in the last quarter. 52.86% of the stock is currently owned by hedge funds and other institutional investors.

Ero Copper Price Performance

Shares of Ero Copper stock opened at $15.67 on Wednesday. The stock has a 50 day moving average of $14.94 and a 200 day moving average of $16.74. Ero Copper has a 12 month low of $11.35 and a 12 month high of $24.38. The firm has a market cap of $1.61 billion, a PE ratio of 18.44 and a beta of 1.23. The company has a current ratio of 1.23, a quick ratio of 0.94 and a debt-to-equity ratio of 0.65.

Ero Copper (NYSE:EROGet Free Report) last issued its quarterly earnings data on Thursday, November 2nd. The company reported $0.18 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.18. Ero Copper had a return on equity of 13.87% and a net margin of 18.33%. The business had revenue of $105.20 million for the quarter, compared to the consensus estimate of $108.00 million. On average, research analysts expect that Ero Copper will post 0.86 EPS for the current fiscal year.

About Ero Copper

(Get Free Report)

Ero Copper Corp. engages in the exploration, development, and production of mining projects in Brazil. The company engages in the production and sale of copper concentrate from the Caraíba operations, located within the Curaçá Valley, northeastern Bahia state, as well as gold and silver by-products. It also holds a 99.6% interest in the Tucumã project, a copper development project located within southeastern Pará state; and holds a 97.6% interest in the Xavantina Operations located in Mato Grosso state.

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