Ero Copper Corp. (NYSE:ERO – Get Rating) was the target of a large decrease in short interest in the month of April. As of April 30th, there was short interest totalling 914,000 shares, a decrease of 7.5% from the April 15th total of 987,800 shares. Based on an average trading volume of 111,800 shares, the short-interest ratio is presently 8.2 days. Approximately 1.2% of the shares of the company are sold short.
Institutional Trading of Ero Copper
Several large investors have recently made changes to their positions in the company. Scotia Capital Inc. lifted its stake in shares of Ero Copper by 0.5% in the 4th quarter. Scotia Capital Inc. now owns 152,844 shares of the company’s stock valued at $2,094,000 after purchasing an additional 753 shares during the last quarter. Mackenzie Financial Corp lifted its stake in Ero Copper by 2.5% during the first quarter. Mackenzie Financial Corp now owns 33,690 shares of the company’s stock worth $596,000 after purchasing an additional 827 shares during the last quarter. Ridgewood Investments LLC purchased a new stake in Ero Copper during the first quarter worth approximately $26,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Ero Copper by 5.8% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 33,017 shares of the company’s stock valued at $455,000 after buying an additional 1,810 shares during the last quarter. Finally, Credit Suisse AG lifted its stake in Ero Copper by 4.9% in the first quarter. Credit Suisse AG now owns 67,455 shares of the company’s stock valued at $1,613,000 after buying an additional 3,152 shares during the last quarter. 47.09% of the stock is currently owned by hedge funds and other institutional investors.
Ero Copper Stock Performance
Shares of Ero Copper stock opened at $18.40 on Tuesday. The stock’s fifty day moving average price is $18.12 and its 200-day moving average price is $15.53. Ero Copper has a 12 month low of $8.07 and a 12 month high of $20.99. The company has a current ratio of 3.04, a quick ratio of 2.80 and a debt-to-equity ratio of 0.75. The firm has a market cap of $1.70 billion, a P/E ratio of 23.00 and a beta of 0.99.
Ero Copper (NYSE:ERO – Get Rating) last released its earnings results on Tuesday, March 7th. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.05). Ero Copper had a return on equity of 16.16% and a net margin of 23.88%. The firm had revenue of $116.70 million for the quarter, compared to analyst estimates of $103.00 million. On average, equities research analysts expect that Ero Copper will post 1.35 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on ERO. National Bank Financial increased their target price on shares of Ero Copper from C$21.00 to C$22.00 in a report on Monday, February 13th. StockNews.com initiated coverage on Ero Copper in a research report on Thursday, March 16th. They issued a “hold” rating for the company.
About Ero Copper
Ero Copper Corp. engages in the exploration, development, and mining of mineral properties in Brazil. It also produces and sells copper, gold, silver products. The company was founded on May 16, 2016 and is headquartered in Vancouver, Canada.