FY2024 EPS Estimates for Ero Copper Corp. Decreased by Analyst (NYSE:ERO)

Ero Copper Corp. (NYSE:ERO) – Research analysts at Raymond James dropped their FY2024 EPS estimates for Ero Copper in a report issued on Tuesday, September 17th. Raymond James analyst F. Hamed now forecasts that the company will post earnings of $1.81 per share for the year, down from their previous estimate of $2.01. Raymond James 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 Q4 2024 earnings at $1.21 EPS.

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

Ero Copper Stock Up 0.1 %

Shares of ERO opened at $20.50 on Thursday. The firm has a market cap of $2.12 billion, a P/E ratio of 31.54 and a beta of 1.19. Ero Copper has a 1 year low of $11.35 and a 1 year high of $24.34. The stock has a 50 day simple moving average of $19.88 and a two-hundred day simple moving average of $20.29. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.82 and a quick ratio of 0.60.

Ero Copper (NYSE:ERO) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company posted $0.24 earnings per share.

Institutional Investors Weigh In On Ero Copper

A number of large investors have recently made changes to their positions in ERO. Toronto Dominion Bank lifted its stake in Ero Copper by 38.7% in the second quarter. Toronto Dominion Bank now owns 2,539 shares of the company’s stock worth $54,000 after acquiring an additional 709 shares during the period. National Bank of Canada FI boosted its stake in shares of Ero Copper by 1.4% during the 2nd quarter. National Bank of Canada FI now owns 58,271 shares of the company’s stock valued at $1,238,000 after purchasing an additional 793 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Ero Copper by 6.2% during the second 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 period. Platinum Investment Management Ltd. increased its position in shares of Ero Copper by 15.9% during the first quarter. Platinum Investment Management Ltd. now owns 18,738 shares of the company’s stock valued at $362,000 after buying an additional 2,564 shares during the period. Finally, CIBC Asset Management Inc raised its stake in Ero Copper by 3.2% in the fourth quarter. CIBC Asset Management Inc now owns 90,121 shares of the company’s stock worth $1,429,000 after buying an additional 2,772 shares in the last quarter. 71.30% of the stock is currently owned by institutional investors.

Ero Copper Company Profile

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.