Analysts Set Expectations for Ero Copper FY2024 Earnings

Ero Copper Corp. (NYSE:ERO) – Stock analysts at Raymond James cut their FY2024 earnings per share (EPS) estimates for shares of Ero Copper in a research report issued to clients and investors on Wednesday, October 23rd. Raymond James analyst F. Hamed now forecasts that the company will post earnings of $1.33 per share for the year, down from their previous forecast of $1.83. Raymond James has a “Outperform” rating on the stock. The consensus estimate for Ero Copper’s current full-year earnings is $1.16 per share. Raymond James also issued estimates for Ero Copper’s Q4 2024 earnings at $0.82 EPS, Q1 2025 earnings at $0.97 EPS, Q3 2025 earnings at $0.88 EPS, Q4 2025 earnings at $0.90 EPS and FY2025 earnings at $3.71 EPS.

Ero Copper (NYSE:ERO) last announced its earnings results on Thursday, August 1st. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. Ero Copper had a negative net margin of 4.79% and a positive return on equity of 9.89%. The company had revenue of $117.10 million during the quarter. During the same period in the previous year, the firm posted $0.24 EPS.

A number of other equities research analysts also recently weighed in on ERO. Ventum Cap Mkts upgraded shares of Ero Copper from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 22nd. Jefferies Financial Group raised Ero Copper from a “hold” rating to a “buy” rating in a report on Monday, August 5th. StockNews.com upgraded Ero Copper from a “sell” rating to a “hold” rating in a research report on Friday. Finally, Bank of America started coverage on Ero Copper in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $28.00 price target for the company. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Ero Copper has an average rating of “Buy” and a consensus price target of $30.00.

Ero Copper Stock Performance

NYSE ERO opened at $19.32 on Monday. The firm has a 50-day moving average price of $20.60 and a two-hundred day moving average price of $20.68. Ero Copper has a 12-month low of $11.35 and a 12-month high of $24.34. The company has a market capitalization of $2.00 billion, a P/E ratio of -102.16 and a beta of 1.20. The company has a quick ratio of 0.60, a current ratio of 0.82 and a debt-to-equity ratio of 0.59.

Institutional Investors Weigh In On Ero Copper

A number of large investors have recently modified their holdings of ERO. Jennison Associates LLC lifted its position in shares of Ero Copper by 39.0% during the 1st quarter. Jennison Associates LLC now owns 3,998,246 shares of the company’s stock worth $77,117,000 after buying an additional 1,121,095 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Ero Copper by 4.1% in the 1st quarter. Russell Investments Group Ltd. now owns 783,756 shares of the company’s stock valued at $15,111,000 after purchasing an additional 30,665 shares in the last quarter. Boston Partners grew its holdings in shares of Ero Copper by 226.9% during the 1st quarter. Boston Partners now owns 726,068 shares of the company’s stock valued at $14,010,000 after purchasing an additional 503,972 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Ero Copper by 32.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 464,047 shares of the company’s stock worth $9,922,000 after purchasing an additional 115,002 shares in the last quarter. Finally, Goehring & Rozencwajg Associates LLC lifted its stake in Ero Copper by 22.5% in the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 340,008 shares of the company’s stock valued at $7,266,000 after purchasing an additional 62,500 shares during the last quarter. 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.