Ero Copper Q3 EPS Lowered by National Bank Financial

Ero Copper Corp. (NYSE:ERO) – Investment analysts at National Bank Financial cut their Q3 2024 earnings per share (EPS) estimates for Ero Copper in a research note issued on Monday, October 14th. National Bank Financial analyst S. Nagle now expects that the company will post earnings of $0.16 per share for the quarter, down from their previous forecast of $0.43. The consensus estimate for Ero Copper’s current full-year earnings is $1.51 per share. National Bank Financial also issued estimates for Ero Copper’s FY2024 earnings at $0.66 EPS and FY2025 earnings at $3.33 EPS.

Several other research analysts have also commented on the company. BMO Capital Markets raised Ero Copper from a “market perform” rating to an “outperform” rating in a research report on Wednesday, June 26th. Ventum Cap Mkts raised Ero Copper from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 22nd. StockNews.com lowered Ero Copper from a “hold” rating to a “sell” rating in a research report on Friday, July 19th. Raymond James raised Ero Copper from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 3rd. Finally, Bank of America started coverage on Ero Copper in a report on Tuesday, September 3rd. They issued a “buy” rating and a $28.00 target price on the stock. One analyst has rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $30.00.

Ero Copper Trading Up 1.1 %

ERO opened at $19.66 on Thursday. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of 30.25 and a beta of 1.20. Ero Copper has a 52 week low of $11.35 and a 52 week high of $24.34. The business’s 50 day moving average is $20.59 and its two-hundred day moving average is $20.73. The company has a quick ratio of 0.60, a current ratio of 0.82 and a debt-to-equity ratio of 0.59.

Ero Copper (NYSE:ERO) last posted its earnings results 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. The firm had revenue of $117.10 million during the quarter. Ero Copper had a positive return on equity of 9.89% and a negative net margin of 4.79%. During the same quarter in the previous year, the firm earned $0.24 EPS.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ERO. Jennison Associates LLC boosted its stake in shares of Ero Copper by 39.0% in the first quarter. Jennison Associates LLC now owns 3,998,246 shares of the company’s stock valued at $77,117,000 after buying an additional 1,121,095 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Ero Copper by 4.1% in the first quarter. Russell Investments Group Ltd. now owns 783,756 shares of the company’s stock valued at $15,111,000 after buying an additional 30,665 shares in the last quarter. Boston Partners boosted its stake in shares of Ero Copper by 226.9% in the first quarter. Boston Partners now owns 726,068 shares of the company’s stock valued at $14,010,000 after buying an additional 503,972 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Ero Copper by 32.9% in the second quarter. Dimensional Fund Advisors LP now owns 464,047 shares of the company’s stock valued at $9,922,000 after buying an additional 115,002 shares in the last quarter. Finally, Goehring & Rozencwajg Associates LLC boosted its stake in shares of Ero Copper by 22.5% in the second quarter. Goehring & Rozencwajg Associates LLC now owns 340,008 shares of the company’s stock valued at $7,266,000 after buying an additional 62,500 shares in the last quarter. 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.