Q1 2024 EPS Estimates for Ero Copper Corp. Reduced by Analyst (NYSE:ERO)

Ero Copper Corp. (NYSE:ERO) – Equities researchers at Raymond James decreased their Q1 2024 earnings estimates for Ero Copper in a report released on Wednesday, April 17th. Raymond James analyst F. Hamed now expects that the company will post earnings per share of $0.04 for the quarter, down from their previous forecast of $0.17. The consensus estimate for Ero Copper’s current full-year earnings is $1.49 per share. Raymond James also issued estimates for Ero Copper’s Q2 2024 earnings at $0.12 EPS, Q3 2024 earnings at $0.68 EPS, Q4 2024 earnings at $0.81 EPS and FY2024 earnings at $1.65 EPS.

Ero Copper (NYSE:ERO) last announced its earnings results 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). Ero Copper had a net margin of 21.71% and a return on equity of 13.16%. The firm had revenue of $116.41 million during the quarter, compared to analysts’ expectations of $104.20 million. During the same quarter last year, the company posted $0.24 earnings per share.

A number of other research analysts also recently commented on ERO. Pi Financial raised Ero Copper from a “neutral” rating to a “buy” rating in a report on Thursday, April 18th. TheStreet upgraded Ero Copper from a “c” rating to a “b-” rating in a research note on Friday, March 8th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $24.00.

Ero Copper Stock Performance

NYSE:ERO opened at $19.41 on Monday. Ero Copper has a 1-year low of $11.35 and a 1-year high of $24.38. The stock has a market cap of $1.99 billion, a P/E ratio of 19.81 and a beta of 1.26. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.23 and a quick ratio of 0.94. The firm has a 50-day moving average of $18.36 and a two-hundred day moving average of $15.86.

Hedge Funds Weigh In On Ero Copper

A number of hedge funds have recently bought and sold shares of the company. Acuitas Investments LLC raised its stake in Ero Copper by 61.5% during the fourth quarter. Acuitas Investments LLC now owns 2,100 shares of the company’s stock valued at $33,000 after buying an additional 800 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd bought a new position in Ero Copper during the fourth quarter worth $79,000. Quantbot Technologies LP bought a new position in Ero Copper during the third quarter worth $131,000. Vanguard Personalized Indexing Management LLC boosted its holdings in Ero Copper by 7.8% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 11,636 shares of the company’s stock worth $201,000 after purchasing an additional 843 shares during the period. Finally, Keybank National Association OH increased its stake in Ero Copper by 13.3% during the third quarter. Keybank National Association OH now owns 13,310 shares of the company’s stock valued at $229,000 after purchasing an additional 1,560 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.