Raymond James Analysts Decrease Earnings Estimates for Ero Copper Corp. (NYSE:ERO)

Ero Copper Corp. (NYSE:ERO) – Investment analysts at Raymond James decreased their Q3 2024 earnings per share (EPS) estimates for Ero Copper in a research report issued on Monday, September 23rd. Raymond James analyst F. Hamed now anticipates that the company will post earnings per share of $0.37 for the quarter, down from their prior forecast of $0.38. Raymond James currently has a “Outperform” rating on the stock. The consensus estimate for Ero Copper’s current full-year earnings is $1.68 per share. Raymond James also issued estimates for Ero Copper’s Q4 2024 earnings at $1.23 EPS.

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

Ero Copper Stock Up 6.4 %

ERO stock opened at $22.64 on Wednesday. The company has a 50 day moving average price of $19.84 and a two-hundred day moving average price of $20.43. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 0.82. The stock has a market capitalization of $2.34 billion, a P/E ratio of 34.83 and a beta of 1.19. Ero Copper has a one year low of $11.35 and a one year high of $24.34.

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

Hedge Funds Weigh In On Ero Copper

Several hedge funds and other institutional investors have recently modified their holdings of the company. Franklin Resources Inc. raised its holdings in Ero Copper by 81.4% in the fourth quarter. Franklin Resources Inc. now owns 351,800 shares of the company’s stock valued at $5,562,000 after buying an additional 157,900 shares during the period. TD Asset Management Inc raised its stake in shares of Ero Copper by 48.7% in the 4th quarter. TD Asset Management Inc now owns 595,283 shares of the company’s stock valued at $9,458,000 after acquiring an additional 194,976 shares during the period. Scotia Capital Inc. lifted its holdings in shares of Ero Copper by 290.6% during the 4th quarter. Scotia Capital Inc. now owns 292,968 shares of the company’s stock valued at $4,617,000 after acquiring an additional 217,968 shares in the last quarter. CIBC Asset Management Inc boosted its position in Ero Copper by 3.2% during the 4th quarter. CIBC Asset Management Inc now owns 90,121 shares of the company’s stock worth $1,429,000 after purchasing an additional 2,772 shares during the period. Finally, 1832 Asset Management L.P. increased its holdings in Ero Copper by 3.3% in the 4th quarter. 1832 Asset Management L.P. now owns 439,463 shares of the company’s stock valued at $6,939,000 after purchasing an additional 14,037 shares in the last quarter. 71.30% of the stock is owned by institutional investors and hedge funds.

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.