National Bank Financial Estimates Ero Copper Q3 Earnings

Ero Copper Corp. (NYSE:ERO - Free Report) - Stock analysts at National Bank Financial dropped their Q3 2024 earnings per share (EPS) estimates for Ero Copper in a research note issued on Monday, October 14th. National Bank Financial analyst S. Nagle now anticipates that the company will post earnings per share of $0.16 for the quarter, down from their prior forecast of $0.43. The consensus estimate for Ero Copper's current full-year earnings is $1.51 per share. National Bank Financial also issued estimates for Ero Copper's FY2024 earnings at $0.66 EPS and FY2025 earnings at $3.33 EPS.

Ero Copper (NYSE:ERO - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.17 by $0.01. Ero Copper had a positive return on equity of 9.89% and a negative net margin of 4.79%. The firm had revenue of $117.10 million for the quarter. During the same period in the prior year, the business earned $0.24 EPS.

Other equities research analysts have also issued research reports about the company. Ventum Cap Mkts raised Ero Copper from a "hold" rating to a "strong-buy" rating in a report on Monday, July 22nd. StockNews.com lowered Ero Copper from a "hold" rating to a "sell" rating in a report on Friday, July 19th. Raymond James raised Ero Copper from a "market perform" rating to an "outperform" rating in a report on Tuesday, September 3rd. BMO Capital Markets raised Ero Copper from a "market perform" rating to an "outperform" rating in a report on Wednesday, June 26th. Finally, Bank of America began coverage on Ero Copper in a report on Tuesday, September 3rd. They issued a "buy" rating and a $28.00 price objective on the stock. One research analyst has rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $30.00.

Ero Copper Stock Performance

Shares of NYSE ERO traded down $0.64 during midday trading on Thursday, reaching $19.45. 284,168 shares of the company were exchanged, compared to its average volume of 330,314. The company has a current ratio of 0.82, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59. Ero Copper has a 1 year low of $11.35 and a 1 year high of $24.34. The stock has a fifty day simple moving average of $20.56 and a 200 day simple moving average of $20.73. The stock has a market cap of $2.01 billion, a P/E ratio of 29.92 and a beta of 1.20.

Institutional Investors Weigh In On Ero Copper

Hedge funds and other institutional investors have recently modified their holdings of the stock. Exchange Traded Concepts LLC acquired a new position in shares of Ero Copper during the 3rd quarter worth approximately $38,000. Toronto Dominion Bank raised its position in shares of Ero Copper by 38.7% during the 2nd quarter. Toronto Dominion Bank now owns 2,539 shares of the company's stock worth $54,000 after purchasing an additional 709 shares during the last quarter. Chesapeake Capital Corp IL acquired a new position in shares of Ero Copper during the 2nd quarter worth approximately $351,000. Platinum Investment Management Ltd. raised its position in shares of Ero Copper by 15.9% during the 1st quarter. Platinum Investment Management Ltd. now owns 18,738 shares of the company's stock worth $362,000 after purchasing an additional 2,564 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Ero Copper by 6.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,933 shares of the company's stock worth $469,000 after purchasing an additional 1,277 shares during the last quarter. 71.30% of the stock is currently 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.