Q3 2024 EPS Estimates for Ero Copper Corp. (NYSE:ERO) Lowered by Analyst

Ero Copper Corp. (NYSE:ERO) – Raymond James reduced their Q3 2024 earnings estimates for shares of Ero Copper in a research note issued on Tuesday, September 17th. Raymond James analyst F. Hamed now anticipates that the company will earn $0.38 per share for the quarter, down from their prior forecast of $0.65. Raymond James currently has a “Outperform” rating on the stock. The consensus estimate for Ero Copper’s current full-year earnings is $1.75 per share. Raymond James also issued estimates for Ero Copper’s Q1 2025 earnings at $0.97 EPS, Q2 2025 earnings at $0.87 EPS, Q3 2025 earnings at $0.87 EPS, Q4 2025 earnings at $0.90 EPS and FY2025 earnings at $3.61 EPS.

Several other equities research analysts have also commented on the company. BMO Capital Markets upgraded Ero Copper from a “market perform” rating to an “outperform” rating in a research note on Wednesday, June 26th. Bank of America assumed coverage on shares of Ero Copper in a research report on Tuesday, September 3rd. They set a “buy” rating and a $28.00 target price for the company. StockNews.com cut shares of Ero Copper from a “hold” rating to a “sell” rating in a research report on Friday, July 19th. Scotiabank raised shares of Ero Copper from a “sector perform” rating to a “sector outperform” rating in a research report on Thursday, May 30th. Finally, Jefferies Financial Group upgraded shares of Ero Copper from a “hold” rating to a “buy” rating in a report on Monday, August 5th. One analyst has rated the stock with a sell rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $30.00.

Ero Copper Trading Up 4.6 %

Shares of ERO opened at $21.45 on Friday. Ero Copper has a twelve month low of $11.35 and a twelve month high of $24.34. The firm has a market capitalization of $2.21 billion, a P/E ratio of 33.00 and a beta of 1.19. The company has a current ratio of 0.82, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59. The stock’s fifty day simple moving average is $19.87 and its 200 day simple moving average is $20.30.

Ero Copper (NYSE:ERO) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.18 earnings per share for the quarter, topping 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 for the quarter. During the same period in the prior year, the business earned $0.24 EPS.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Jennison Associates LLC increased its stake in 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 period. Boston Partners lifted its stake in shares of Ero Copper by 226.9% in the first quarter. Boston Partners now owns 726,068 shares of the company’s stock worth $14,010,000 after acquiring an additional 503,972 shares in the last quarter. Scotia Capital Inc. lifted its stake in shares of Ero Copper by 290.6% in the fourth quarter. Scotia Capital Inc. now owns 292,968 shares of the company’s stock worth $4,617,000 after acquiring an additional 217,968 shares in the last quarter. TD Asset Management Inc boosted its holdings in Ero Copper by 48.7% in the fourth quarter. TD Asset Management Inc now owns 595,283 shares of the company’s stock valued at $9,458,000 after purchasing an additional 194,976 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in Ero Copper by 81.4% during the 4th quarter. Franklin Resources Inc. now owns 351,800 shares of the company’s stock valued at $5,562,000 after purchasing an additional 157,900 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.