Q4 EPS Estimates for Ero Copper Decreased by Analyst

Ero Copper Corp. (NYSE:ERO) – Research analysts at National Bank Financial cut their Q4 2024 EPS estimates for shares of Ero Copper in a note issued to investors on Tuesday, February 4th. National Bank Financial analyst S. Nagle now anticipates that the company will earn $0.17 per share for the quarter, down from their previous forecast of $0.22. The consensus estimate for Ero Copper’s current full-year earnings is $0.92 per share.

Ero Copper (NYSE:ERO) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.05. Ero Copper had a net margin of 3.67% and a return on equity of 11.30%. The business had revenue of $124.80 million for the quarter, compared to analysts’ expectations of $148.80 million. During the same quarter in the previous year, the business posted $0.18 earnings per share.

ERO has been the subject of several other reports. StockNews.com upgraded shares of Ero Copper from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. The Goldman Sachs Group initiated coverage on Ero Copper in a research report on Monday, December 2nd. They set a “buy” rating and a $19.00 price objective for the company. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $26.33.

Ero Copper Trading Down 2.9 %

NYSE:ERO opened at $13.18 on Thursday. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of 77.55 and a beta of 1.14. The company has a 50-day moving average price of $13.97 and a 200-day moving average price of $17.46. Ero Copper has a 12 month low of $12.78 and a 12 month high of $24.34. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 0.71.

Hedge Funds Weigh In On Ero Copper

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ERO. Impala Asset Management LLC lifted its holdings in shares of Ero Copper by 12.7% during the third quarter. Impala Asset Management LLC now owns 2,209,610 shares of the company’s stock valued at $49,208,000 after purchasing an additional 248,390 shares in the last quarter. Jennison Associates LLC raised its stake in Ero Copper by 4.3% during the 3rd quarter. Jennison Associates LLC now owns 5,710,827 shares of the company’s stock valued at $127,149,000 after buying an additional 237,345 shares during the last quarter. FMR LLC boosted its stake in shares of Ero Copper by 1.8% in the 3rd quarter. FMR LLC now owns 11,869,851 shares of the company’s stock worth $264,262,000 after buying an additional 206,405 shares during the last quarter. Temasek Holdings Private Ltd lifted its holdings in Ero Copper by 41.2% in the third quarter. Temasek Holdings Private Ltd now owns 542,421 shares of the company’s stock valued at $12,080,000 after acquiring an additional 158,294 shares during the period. Finally, Sprott Inc. increased its position in shares of Ero Copper by 42.2% during the 4th quarter. Sprott Inc. now owns 455,289 shares of the company’s stock valued at $6,137,000 after purchasing an additional 135,049 shares during the last quarter. 71.30% of the stock is owned by institutional investors.

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.