Q1 2024 EPS Estimates for Ero Copper Corp. Decreased by Raymond James (NYSE:ERO)

Ero Copper Corp. (NYSE:ERO) – Raymond James lowered their Q1 2024 earnings estimates for Ero Copper in a research note issued on Wednesday, April 17th. Raymond James analyst F. Hamed now anticipates that the company will post earnings per share of $0.04 for the quarter, down from their prior forecast of $0.17. The consensus estimate for Ero Copper’s current full-year earnings is $1.49 per share. Raymond James also issued estimates for Ero Copper’s Q2 2024 earnings at $0.12 EPS, Q3 2024 earnings at $0.68 EPS, Q4 2024 earnings at $0.81 EPS and FY2024 earnings at $1.65 EPS.

A number of other equities analysts have also recently issued reports on ERO. TheStreet raised shares of Ero Copper from a “c” rating to a “b-” rating in a report on Friday, March 8th. Pi Financial upgraded shares of Ero Copper from a “neutral” rating to a “buy” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Ero Copper presently has a consensus rating of “Hold” and an average price target of $24.00.

Ero Copper Stock Performance

Shares of ERO stock opened at $20.14 on Monday. Ero Copper has a 12 month low of $11.35 and a 12 month high of $24.38. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.23 and a quick ratio of 0.94. The firm has a market capitalization of $2.07 billion, a P/E ratio of 20.55 and a beta of 1.26. The company’s fifty day moving average price is $18.28 and its two-hundred day moving average price is $15.84.

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

Institutional Investors Weigh In On Ero Copper

A number of institutional investors have recently modified their holdings of the stock. Kapitalo Investimentos Ltda bought a new position in Ero Copper in the 4th quarter worth $5,763,000. Goldman Sachs Group Inc. increased its holdings in shares of Ero Copper by 52.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 695,823 shares of the company’s stock worth $10,987,000 after purchasing an additional 240,461 shares during the period. FIL Ltd increased its holdings in shares of Ero Copper by 105.5% during the 4th quarter. FIL Ltd now owns 4,883,502 shares of the company’s stock worth $77,212,000 after purchasing an additional 2,507,239 shares during the period. Impala Asset Management LLC increased its holdings in shares of Ero Copper by 17.1% during the 4th quarter. Impala Asset Management LLC now owns 2,150,870 shares of the company’s stock worth $33,331,000 after purchasing an additional 314,360 shares during the period. Finally, Legal & General Group Plc increased its holdings in shares of Ero Copper by 5.7% during the 4th quarter. Legal & General Group Plc now owns 64,806 shares of the company’s stock worth $1,030,000 after purchasing an additional 3,500 shares during the period. 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.