Ero Copper Corp. to Post Q3 2024 Earnings of $0.38 Per Share, Raymond James Forecasts (NYSE:ERO)

Ero Copper Corp. (NYSE:ERO) – Raymond James lowered their Q3 2024 earnings per share estimates for shares of Ero Copper in a research report issued on Tuesday, September 17th. Raymond James analyst F. Hamed now forecasts that the company will post earnings per share of $0.38 for the quarter, down from their previous estimate of $0.65. Raymond James currently has a “Outperform” rating on the stock. The consensus estimate for Ero Copper’s current full-year earnings is $1.75 per share. Raymond James also issued estimates for Ero Copper’s Q1 2025 earnings at $0.97 EPS, Q2 2025 earnings at $0.87 EPS, Q3 2025 earnings at $0.87 EPS, Q4 2025 earnings at $0.90 EPS and FY2025 earnings at $3.61 EPS.

Ero Copper (NYSE:ERO) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.01. Ero Copper had a positive return on equity of 9.89% and a negative net margin of 4.79%. The firm had revenue of $117.10 million during the quarter. During the same period last year, the business posted $0.24 earnings per share.

ERO has been the subject of several other reports. Ventum Cap Mkts upgraded Ero Copper from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 22nd. StockNews.com downgraded Ero Copper from a “hold” rating to a “sell” rating in a research note on Friday, July 19th. Scotiabank upgraded Ero Copper from a “sector perform” rating to a “sector outperform” rating in a research note on Thursday, May 30th. Bank of America began coverage on Ero Copper in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $28.00 target price for the company. Finally, BMO Capital Markets upgraded Ero Copper from a “market perform” rating to an “outperform” rating in a research note on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.

Ero Copper Stock Performance

Shares of ERO opened at $21.03 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.82 and a quick ratio of 0.60. The stock has a 50-day moving average of $19.83 and a 200-day moving average of $20.32. The company has a market cap of $2.17 billion, a PE ratio of 32.35 and a beta of 1.19. Ero Copper has a one year low of $11.35 and a one year high of $24.34.

Hedge Funds Weigh In On Ero Copper

A number of hedge funds have recently added to or reduced their stakes in ERO. Toronto Dominion Bank boosted its stake in shares of Ero Copper by 38.7% in the 2nd quarter. Toronto Dominion Bank now owns 2,539 shares of the company’s stock worth $54,000 after buying an additional 709 shares during the last quarter. Platinum Investment Management Ltd. purchased a new position in shares of Ero Copper in the 4th quarter worth approximately $257,000. Chesapeake Capital Corp IL purchased a new position in shares of Ero Copper in the 2nd quarter worth approximately $351,000. Aigen Investment Management LP purchased a new position in shares of Ero Copper in the 4th quarter worth approximately $356,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Ero Copper in the 4th quarter worth approximately $385,000. Institutional investors and hedge funds own 71.30% of the company’s stock.

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.