Q2 2024 EPS Estimates for Ero Copper Corp. (NYSE:ERO) Boosted by Raymond James

Ero Copper Corp. (NYSE:ERO) – Equities researchers at Raymond James raised their Q2 2024 earnings estimates for shares of Ero Copper in a report issued on Wednesday, May 22nd. Raymond James analyst F. Hamed now forecasts that the company will post earnings per share of $0.26 for the quarter, up from their previous forecast of $0.23. The consensus estimate for Ero Copper’s current full-year earnings is $1.59 per share. Raymond James also issued estimates for Ero Copper’s Q3 2024 earnings at $0.87 EPS, Q4 2024 earnings at $1.01 EPS, FY2024 earnings at $2.30 EPS, Q2 2025 earnings at $0.87 EPS and Q4 2025 earnings at $0.89 EPS.

Ero Copper (NYSE:ERO) last issued its quarterly earnings data on Thursday, March 7th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.02). The firm had revenue of $116.41 million during the quarter, compared to the consensus estimate of $104.20 million. Ero Copper had a net margin of 14.23% and a return on equity of 11.86%. During the same quarter in the prior year, the business earned $0.24 earnings per share.

A number of other analysts also recently commented on ERO. StockNews.com upgraded shares of Ero Copper from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. Jefferies Financial Group started coverage on shares of Ero Copper in a research report on Friday, May 3rd. They issued a “hold” rating on the stock. TheStreet raised shares of Ero Copper from a “c” rating to a “b-” rating in a research report on Friday, March 8th. Finally, Pi Financial upgraded shares of Ero Copper from a “neutral” rating to a “buy” rating in a research note on Thursday, April 18th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $24.00.

Ero Copper Trading Down 1.7 %

Shares of NYSE:ERO opened at $22.00 on Friday. Ero Copper has a fifty-two week low of $11.35 and a fifty-two week high of $24.38. The company has a market cap of $2.26 billion, a PE ratio of 33.85 and a beta of 1.21. The company’s 50-day moving average price is $20.53 and its 200 day moving average price is $16.95. The company has a quick ratio of 0.94, a current ratio of 1.23 and a debt-to-equity ratio of 0.65.

Institutional Trading of Ero Copper

A number of institutional investors and hedge funds have recently modified their holdings of ERO. FMR LLC raised its stake in Ero Copper by 3.7% during the 3rd quarter. FMR LLC now owns 10,719,365 shares of the company’s stock valued at $184,832,000 after purchasing an additional 379,686 shares during the last quarter. Jennison Associates LLC raised 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 valued at $77,117,000 after purchasing an additional 1,121,095 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Ero Copper by 25.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,247,918 shares of the company’s stock valued at $35,715,000 after purchasing an additional 461,998 shares during the last quarter. Impala Asset Management LLC raised its stake in Ero Copper by 23.1% during the 3rd quarter. Impala Asset Management LLC now owns 1,836,510 shares of the company’s stock valued at $31,661,000 after purchasing an additional 344,410 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. raised its stake in Ero Copper by 31.7% during the 4th quarter. Montrusco Bolton Investments Inc. now owns 845,623 shares of the company’s stock valued at $13,435,000 after purchasing an additional 203,613 shares during the last quarter. 71.30% of the stock is currently owned by institutional investors and hedge funds.

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.