Ero Copper Corp. (NYSE:ERO) Short Interest Up 6.7% in December

Ero Copper Corp. (NYSE:ERO) was the target of a large growth in short interest in 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. Based on an average daily trading volume, of 367,400 shares, the days-to-cover ratio is currently 7.0 days. Currently, 2.7% of the company’s shares are sold short.

Ero Copper Stock Up 1.2 %

Ero Copper stock traded up $0.16 during midday trading on Wednesday, hitting $13.48. 351,714 shares of the company were exchanged, compared to its average volume of 341,842. The company has a market cap of $1.39 billion, a PE ratio of 79.29 and a beta of 1.12. Ero Copper has a fifty-two week low of $12.78 and a fifty-two week high of $24.34. The company’s fifty day moving average price is $15.53 and its 200-day moving average price is $18.78. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.68 and a quick ratio of 0.45.

Analyst Ratings Changes

A number of research firms have issued reports on ERO. StockNews.com raised Ero Copper from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. Raymond James upgraded Ero Copper from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 3rd. Bank of America started coverage on shares of Ero Copper in a report on Tuesday, September 3rd. They issued a “buy” rating and a $28.00 price target on the stock. Finally, The Goldman Sachs Group started coverage on shares of Ero Copper in a research note on Monday, December 2nd. They set a “buy” rating and a $19.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $26.33.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Exchange Traded Concepts LLC acquired a new stake in Ero Copper during the 3rd quarter valued at $38,000. Toronto Dominion Bank boosted its position 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 last quarter. Chesapeake Capital Corp IL purchased a new position in Ero Copper in the 2nd quarter valued at about $351,000. Sentry Investment Management LLC acquired a new stake in shares of Ero Copper during the third quarter valued at about $457,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Ero Copper by 6.2% during 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 owned by institutional investors and hedge funds.

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.