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

Ero Copper Corp. (NYSE:ERO) – Equities research analysts at Raymond James increased their Q2 2024 earnings per share estimates for shares of Ero Copper in a research note issued on Monday, April 22nd. Raymond James analyst F. Hamed now forecasts that the company will post earnings of $0.23 per share for the quarter, up from their previous 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 has been the subject of a number of other reports. TheStreet upgraded Ero Copper from a “c” rating to a “b-” rating in a report on Friday, March 8th. Pi Financial upgraded Ero Copper from a “neutral” rating to a “buy” rating in a report on Thursday, April 18th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $24.00.

Ero Copper Price Performance

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

Ero Copper (NYSE:ERO) last issued its quarterly earnings results on Thursday, March 7th. The company reported $0.21 earnings per share 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 firm had revenue of $116.41 million during the quarter, compared to the consensus estimate of $104.20 million. During the same quarter last year, the firm posted $0.24 earnings per share.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ERO. Acuitas Investments LLC boosted its position in Ero Copper by 61.5% during 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 Ero Copper during the 4th quarter worth $79,000. Quantbot Technologies LP acquired a new position in Ero Copper during the 3rd quarter worth $131,000. Vanguard Personalized Indexing Management LLC boosted its position in Ero Copper by 7.8% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 11,636 shares of the company’s stock worth $201,000 after acquiring an additional 843 shares during the period. Finally, Keybank National Association OH boosted its position in Ero Copper by 13.3% during the 3rd quarter. Keybank National Association OH now owns 13,310 shares of the company’s stock worth $229,000 after acquiring an additional 1,560 shares during the period. Institutional investors and hedge funds own 71.30% of the company’s stock.

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.