Raymond James Research Analysts Lift Earnings Estimates for Ero Copper Corp. (NYSE:ERO)

Ero Copper Corp. (NYSE:ERO) – Research analysts at Raymond James increased their Q2 2024 EPS estimates for shares of Ero Copper in a research note issued on Monday, April 22nd. Raymond James analyst F. Hamed now expects that the company will post earnings per share of $0.23 for the quarter, up from their previous forecast of $0.12. The consensus estimate for Ero Copper’s current full-year earnings is $1.48 per share. Raymond James also issued estimates for Ero Copper’s Q3 2024 earnings at $0.81 EPS, Q4 2024 earnings at $0.95 EPS and FY2024 earnings at $2.02 EPS.

ERO has been the topic of a number of other reports. Pi Financial upgraded 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 report on Friday, March 8th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $24.00.

Ero Copper Price Performance

Shares of ERO opened at $19.08 on Thursday. Ero Copper has a 12-month low of $11.35 and a 12-month high of $24.38. The business’s fifty day moving average is $18.63 and its 200 day moving average is $15.93. The company has a quick ratio of 0.94, a current ratio of 1.23 and a debt-to-equity ratio of 0.65. The stock has a market cap of $1.96 billion, a P/E ratio of 19.47 and a beta of 1.26.

Ero Copper (NYSE:ERO) last announced its quarterly earnings data on Thursday, March 7th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.02). Ero Copper had a return on equity of 13.16% and a net margin of 21.71%. The company had revenue of $116.41 million for the quarter, compared to analyst estimates of $104.20 million. During the same period last year, the business earned $0.24 EPS.

Hedge Funds Weigh In On Ero Copper

Several large investors have recently bought and sold shares of the stock. Kapitalo Investimentos Ltda bought a new position in Ero Copper during the 4th quarter valued at $5,763,000. Goehring & Rozencwajg Associates LLC lifted its stake in Ero Copper by 3.4% during the 4th quarter. Goehring & Rozencwajg Associates LLC now owns 258,308 shares of the company’s stock valued at $4,086,000 after acquiring an additional 8,395 shares in the last quarter. CoreCommodity Management LLC bought a new position in Ero Copper during the 4th quarter valued at $660,000. Platinum Investment Management Ltd. bought a new position in Ero Copper during the 4th quarter valued at $257,000. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new position in Ero Copper during the 4th quarter valued at $79,000. 71.30% of the stock is currently owned by institutional investors.

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.