Ero Copper Corp. to Post Q2 2024 Earnings of $0.23 Per Share, Raymond James Forecasts (NYSE:ERO)

Ero Copper Corp. (NYSE:ERO) – Equities research analysts at Raymond James upped their Q2 2024 earnings per share (EPS) estimates for shares of Ero Copper in a report released on Monday, April 22nd. Raymond James analyst F. Hamed now expects that the company will post earnings of $0.23 per share for the quarter, up from their prior forecast of $0.12. The consensus estimate for Ero Copper’s current full-year earnings is $1.48 per share. Raymond James also issued estimates for Ero Copper’s Q3 2024 earnings at $0.81 EPS, Q4 2024 earnings at $0.95 EPS and FY2024 earnings at $2.02 EPS.

Other equities research analysts have also issued research reports about the company. Pi Financial raised Ero Copper from a “neutral” rating to a “buy” rating in a report on Thursday, April 18th. TheStreet raised Ero Copper from a “c” rating to a “b-” rating in a report on Friday, March 8th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Ero Copper presently has an average rating of “Hold” and a consensus price target of $24.00.

Ero Copper Trading Down 3.2 %

Shares of ERO opened at $18.61 on Thursday. The business has a 50-day moving average of $18.55 and a 200 day moving average of $15.90. Ero Copper has a fifty-two week low of $11.35 and a fifty-two week high of $24.38. The firm has a market cap of $1.91 billion, a P/E ratio of 18.99 and a beta of 1.26. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.94 and a current ratio of 1.23.

Ero Copper (NYSE:ERO) last announced its quarterly earnings data on Thursday, March 7th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.02). Ero Copper had a return on equity of 13.16% and a net margin of 21.71%. The firm had revenue of $116.41 million during the quarter, compared to analysts’ expectations of $104.20 million. During the same period last year, the business posted $0.24 EPS.

Institutional Investors Weigh In On Ero Copper

Several hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC increased its position in shares of Ero Copper by 3.7% during the third quarter. FMR LLC now owns 10,719,365 shares of the company’s stock valued at $184,832,000 after buying an additional 379,686 shares during the period. Jennison Associates LLC increased its position in shares of Ero Copper by 4.9% in the third quarter. Jennison Associates LLC now owns 3,544,861 shares of the company’s stock worth $61,161,000 after purchasing an additional 165,982 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Ero Copper by 25.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,247,918 shares of the company’s stock worth $35,715,000 after purchasing an additional 461,998 shares during the last quarter. Impala Asset Management LLC increased its position in shares of Ero Copper by 23.1% in the third quarter. Impala Asset Management LLC now owns 1,836,510 shares of the company’s stock worth $31,661,000 after purchasing an additional 344,410 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. increased its position in shares of Ero Copper by 31.7% in the fourth quarter. Montrusco Bolton Investments Inc. now owns 845,623 shares of the company’s stock worth $13,435,000 after purchasing an additional 203,613 shares during the last quarter. 71.30% of the stock is currently owned by institutional investors.

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.