Q2 2024 EPS Estimates for Ero Copper Corp. (NYSE:ERO) Increased by Analyst

Ero Copper Corp. (NYSE:ERO) – Equities research analysts at Raymond James boosted their Q2 2024 earnings per share estimates for Ero Copper in a research report issued to clients and investors on Monday, April 22nd. Raymond James analyst F. Hamed now expects that the company will post earnings of $0.23 per share for the quarter, up from their prior forecast of $0.12. The consensus estimate for Ero Copper’s current full-year earnings is $1.60 per share. Raymond James also issued estimates for Ero Copper’s Q3 2024 earnings at $0.81 EPS, Q4 2024 earnings at $0.95 EPS and FY2024 earnings at $2.02 EPS.

Ero Copper (NYSE:ERO) last released its quarterly earnings results on Thursday, March 7th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). Ero Copper had a net margin of 21.71% and a return on equity of 13.16%. The business had revenue of $116.41 million during the quarter, compared to the consensus estimate of $104.20 million. During the same period in the prior year, the firm earned $0.24 earnings per share.

Other analysts have also recently issued reports about the company. Pi Financial raised Ero Copper from a “neutral” rating to a “buy” rating in a report on Thursday, April 18th. TheStreet upgraded Ero Copper from a “c” rating to a “b-” rating in a research report on Friday, March 8th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $24.00.

Ero Copper Stock Performance

Ero Copper stock opened at $20.62 on Thursday. The stock has a 50-day simple moving average of $18.71 and a 200 day simple moving average of $15.96. The company has a quick ratio of 0.94, a current ratio of 1.23 and a debt-to-equity ratio of 0.65. Ero Copper has a 12-month low of $11.35 and a 12-month high of $24.38. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 21.04 and a beta of 1.26.

Hedge Funds Weigh In On Ero Copper

Several institutional investors have recently modified their holdings of ERO. Acuitas Investments LLC grew its position in shares of Ero Copper by 61.5% in the 4th quarter. Acuitas Investments LLC now owns 2,100 shares of the company’s stock valued at $33,000 after purchasing an additional 800 shares during the period. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of Ero Copper in the 4th quarter valued at approximately $79,000. Quantbot Technologies LP acquired a new position in shares of Ero Copper in the 3rd quarter valued at approximately $131,000. Vanguard Personalized Indexing Management LLC grew its position in shares of Ero Copper by 7.8% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 11,636 shares of the company’s stock valued at $201,000 after purchasing an additional 843 shares during the period. Finally, Keybank National Association OH grew its position in shares of Ero Copper by 13.3% in the 3rd quarter. Keybank National Association OH now owns 13,310 shares of the company’s stock valued at $229,000 after purchasing an additional 1,560 shares during the period. 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.