Ero Copper Corp. (NYSE:ERO) Short Interest Update

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

Institutional Trading of Ero Copper

Several institutional investors have recently made changes to their positions in the company. Toronto Dominion Bank lifted its position in shares of Ero Copper by 2,172.6% during the third quarter. Toronto Dominion Bank now owns 57,702 shares of the company’s stock valued at $1,285,000 after purchasing an additional 55,163 shares in the last quarter. Goehring & Rozencwajg Associates LLC lifted its position in shares of Ero Copper by 22.5% during the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 340,008 shares of the company’s stock worth $7,266,000 after buying an additional 62,500 shares in the last quarter. Old West Investment Management LLC boosted its stake in shares of Ero Copper by 100.0% in the 3rd quarter. Old West Investment Management LLC now owns 160,000 shares of the company’s stock worth $3,563,000 after buying an additional 80,000 shares during the last quarter. Impala Asset Management LLC grew its holdings in shares of Ero Copper by 12.7% in the third quarter. Impala Asset Management LLC now owns 2,209,610 shares of the company’s stock valued at $49,208,000 after acquiring an additional 248,390 shares in the last quarter. Finally, Lighthouse Investment Partners LLC purchased a new stake in shares of Ero Copper during the second quarter valued at approximately $2,521,000. Institutional investors own 71.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on ERO shares. StockNews.com raised Ero Copper from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. The Goldman Sachs Group started coverage on shares of Ero Copper in a research report on Monday, December 2nd. They issued a “buy” rating and a $19.00 price target for the company. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Ero Copper has a consensus rating of “Buy” and a consensus price target of $26.33.

Ero Copper Stock Up 1.2 %

Shares of NYSE:ERO opened at $13.48 on Thursday. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 79.29 and a beta of 1.12. The business’s 50 day moving average is $15.53 and its 200 day moving average is $18.78. Ero Copper has a 12-month low of $12.78 and a 12-month high of $24.34. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 0.71.

Ero Copper Company Profile

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.