Tue Oct 01 03:44:38 UTC 2024: ## Ero Copper Corp. Sees Short Interest Decline, Institutional Investors Show Increased Interest
**New York, NY (MarketBeat News)** – Ero Copper Corp. (NYSE: ERO) experienced a decrease in short interest during September, indicating a potential shift in investor sentiment. Short interest, representing the number of shares sold short, fell by 5.3% to 2,850,000 shares by September 15th, from 3,010,000 shares on August 31st. This suggests a decrease in bearish sentiment towards the company’s stock.
Alongside this decline, institutional investors have been increasing their holdings in Ero Copper. Toronto Dominion Bank, Platinum Investment Management Ltd., Chesapeake Capital Corp IL, Zurcher Kantonalbank Zurich Cantonalbank, and Janus Henderson Group PLC have all acquired or expanded their positions in the company’s stock over recent quarters. Overall, hedge funds and institutional investors now own 71.30% of Ero Copper’s stock.
Analysts have also been expressing their views on Ero Copper. While StockNews.com downgraded the stock to a “sell” rating in July, other analysts have offered more optimistic views. Ventum Cap Mkts, Jefferies Financial Group, and Bank of America have all upgraded Ero Copper to “strong-buy”, “buy”, and “buy” ratings respectively. BMO Capital Markets also upgraded the stock to “outperform”. Based on these ratings, Ero Copper currently holds an average rating of “Moderate Buy” with an average price target of $30.00.
Despite the mixed analyst sentiment, Ero Copper’s stock price closed at $22.27 on Monday, down $0.49. The company’s earnings report for the quarter ended August 1st showed a positive return on equity of 9.89% and a negative net margin of 4.79%, exceeding analyst expectations.
Overall, while short interest has declined, institutional investor interest in Ero Copper appears to be increasing. Further developments and analysts’ future recommendations will likely play a key role in shaping the company’s stock performance in the coming months.
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