FY2024 EPS Estimates for Ero Copper Reduced by Raymond James

Ero Copper Corp. (NYSE:ERO - Free Report) - Analysts at Raymond James lowered their FY2024 earnings per share estimates for Ero Copper in a research report issued to clients and investors on Wednesday, October 23rd. Raymond James analyst F. Hamed now expects that the company will post earnings per share of $1.33 for the year, down from their previous estimate of $1.83. Raymond James currently 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 - 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.

A number of other research firms have also issued reports on ERO. StockNews.com raised Ero Copper from a "sell" rating to a "hold" rating in a report on Friday. Jefferies Financial Group upgraded shares of Ero Copper from a "hold" rating to a "buy" rating in a research report on Monday, August 5th. 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. Finally, Bank of America began coverage on shares of Ero Copper in a research report on Tuesday, September 3rd. They issued a "buy" rating and a $28.00 price objective for the company. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $30.00.

Ero Copper Stock Performance

Shares of NYSE ERO traded down $0.07 during midday trading on Monday, reaching $19.32. 269,008 shares of the company were exchanged, compared to its average volume of 328,223. 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 $20.60 and a 200 day simple moving average of $20.68. The stock has a market cap of $2.00 billion, a P/E ratio of -102.16 and a beta of 1.20.

Institutional Investors Weigh In On Ero Copper

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Jennison Associates LLC increased its stake 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 purchasing an additional 1,121,095 shares in the last quarter. Swiss National Bank increased its stake in shares of Ero Copper by 10.6% during the 1st quarter. Swiss National Bank now owns 183,800 shares of the company's stock worth $3,543,000 after purchasing an additional 17,600 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Ero Copper by 4.1% during the 1st quarter. Russell Investments Group Ltd. now owns 783,756 shares of the company's stock worth $15,111,000 after purchasing an additional 30,665 shares in the last quarter. Platinum Investment Management Ltd. increased its stake 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 in the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of Ero Copper by 28.2% during the 1st quarter. Janus Henderson Group PLC now owns 32,994 shares of the company's stock worth $637,000 after purchasing an additional 7,257 shares in 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.