Short Interest in Ero Copper Corp. (NYSE:ERO) Declines By 8.9%

Ero Copper Corp. (NYSE:ERO - Get Free Report) saw a significant drop in short interest in the month of October. As of October 15th, there was short interest totalling 2,470,000 shares, a drop of 8.9% from the September 30th total of 2,710,000 shares. Approximately 2.6% of the shares of the company are sold short. Based on an average daily volume of 289,400 shares, the days-to-cover ratio is currently 8.5 days.

Hedge Funds Weigh In On Ero Copper

A number of hedge funds have recently added to or reduced their stakes in the stock. Jennison Associates LLC boosted its position in Ero Copper by 39.0% in the first quarter. Jennison Associates LLC now owns 3,998,246 shares of the company's stock worth $77,117,000 after purchasing an additional 1,121,095 shares during the last quarter. Swiss National Bank increased its position in shares of Ero Copper by 10.6% in the first quarter. Swiss National Bank now owns 183,800 shares of the company's stock worth $3,543,000 after purchasing an additional 17,600 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Ero Copper by 4.1% during the 1st quarter. Russell Investments Group Ltd. now owns 783,756 shares of the company's stock valued at $15,111,000 after buying an additional 30,665 shares in the last quarter. Platinum Investment Management Ltd. raised its position in Ero Copper by 15.9% during the first quarter. Platinum Investment Management Ltd. now owns 18,738 shares of the company's stock valued at $362,000 after purchasing an additional 2,564 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in Ero Copper by 28.2% in the 1st quarter. Janus Henderson Group PLC now owns 32,994 shares of the company's stock worth $637,000 after buying an additional 7,257 shares during the last quarter. Institutional investors and hedge funds own 71.30% of the company's stock.

Ero Copper Stock Up 0.6 %

ERO traded up $0.11 during midday trading on Friday, hitting $18.46. The company had a trading volume of 344,105 shares, compared to its average volume of 326,643. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of -97.13 and a beta of 1.20. The stock's 50 day moving average price is $20.43 and its 200 day moving average price is $20.61. 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 52 week low of $11.35 and a 52 week high of $24.34.

Ero Copper (NYSE:ERO - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.01. Ero Copper had a negative net margin of 4.79% and a positive return on equity of 9.89%. The business had revenue of $117.10 million during the quarter. During the same period in the previous year, the business posted $0.24 EPS. On average, research analysts anticipate that Ero Copper will post 1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ERO. Ventum Cap Mkts raised Ero Copper from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 22nd. Bank of America began coverage on Ero Copper in a report on Tuesday, September 3rd. They set a "buy" rating and a $28.00 price target on the stock. Raymond James upgraded shares of Ero Copper from a "market perform" rating to an "outperform" rating in a report on Tuesday, September 3rd. StockNews.com raised Ero Copper from a "sell" rating to a "hold" rating in a research note on Friday, October 25th. Finally, Jefferies Financial Group upgraded shares of Ero Copper from a "hold" rating to a "buy" rating in a report on Monday, August 5th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $30.00.

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.