FY2024 EPS Estimates for Ero Copper Cut by Raymond James

Ero Copper Corp. (NYSE:ERO) – Equities researchers at Raymond James reduced their FY2024 earnings estimates for shares of Ero Copper in a research report issued on Wednesday, October 23rd. Raymond James analyst F. Hamed now forecasts that the company will earn $1.33 per share for the year, down from their prior estimate of $1.83. Raymond James currently has a “Outperform” rating on the stock. The consensus estimate for Ero Copper’s current full-year earnings is $1.16 per share. Raymond James also issued estimates for Ero Copper’s Q4 2024 earnings at $0.82 EPS, Q1 2025 earnings at $0.97 EPS, Q3 2025 earnings at $0.88 EPS, Q4 2025 earnings at $0.90 EPS and FY2025 earnings at $3.71 EPS.

Ero Copper (NYSE:ERO) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.18 earnings per share (EPS) for the quarter, beating 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 company had revenue of $117.10 million for the quarter. During the same quarter in the previous year, the business posted $0.24 EPS.

Other equities research analysts also recently issued reports about the stock. Jefferies Financial Group upgraded shares of Ero Copper from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. Bank of America started coverage on shares of Ero Copper in a research note on Tuesday, September 3rd. They set a “buy” rating and a $28.00 target price on the stock. Ventum Cap Mkts upgraded shares of Ero Copper from a “hold” rating to a “strong-buy” rating in a report on Monday, July 22nd. Finally, StockNews.com raised Ero Copper from a “sell” rating to a “hold” rating in a report on Friday, October 25th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $30.00.

Ero Copper Stock Performance

Ero Copper stock opened at $19.29 on Monday. The company has a quick ratio of 0.60, a current ratio of 0.82 and a debt-to-equity ratio of 0.59. The stock has a market cap of $1.99 billion, a PE ratio of -101.68 and a beta of 1.20. Ero Copper has a 12-month low of $11.35 and a 12-month high of $24.34. The business’s 50-day moving average price is $20.59 and its two-hundred day moving average price is $20.67.

Hedge Funds Weigh In On Ero Copper

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC acquired a new position in shares of Ero Copper during the third quarter worth $38,000. Toronto Dominion Bank increased its holdings in Ero Copper by 38.7% in the second quarter. Toronto Dominion Bank now owns 2,539 shares of the company’s stock valued at $54,000 after purchasing an additional 709 shares during the period. Chesapeake Capital Corp IL bought a new position in Ero Copper during the 2nd quarter worth $351,000. Platinum Investment Management Ltd. lifted its holdings in Ero Copper by 15.9% during the 1st quarter. Platinum Investment Management Ltd. now owns 18,738 shares of the company’s stock worth $362,000 after buying an additional 2,564 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Ero Copper by 6.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,933 shares of the company’s stock valued at $469,000 after buying an additional 1,277 shares during the last quarter. 71.30% of the stock is currently owned by institutional investors and hedge funds.

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.