FY2024 Earnings Forecast for Ero Copper Corp. (NYSE:ERO) Issued By Raymond James

Ero Copper Corp. (NYSE:ERO) – Equities researchers at Raymond James dropped their FY2024 earnings per share (EPS) estimates for shares of Ero Copper in a report released on Tuesday, September 17th. Raymond James analyst F. Hamed now expects that the company will post earnings per share of $1.81 for the year, down from their prior forecast of $2.01. Raymond James has a “Outperform” rating on the stock. The consensus estimate for Ero Copper’s current full-year earnings is $1.75 per share. Raymond James also issued estimates for Ero Copper’s Q4 2024 earnings at $1.21 EPS.

Several other equities research analysts have also commented on the stock. Jefferies Financial Group raised shares of Ero Copper from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Scotiabank upgraded Ero Copper from a “sector perform” rating to a “sector outperform” rating in a research report on Thursday, May 30th. Ventum Cap Mkts upgraded Ero Copper from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 22nd. StockNews.com cut shares of Ero Copper from a “hold” rating to a “sell” rating in a research note on Friday, July 19th. Finally, BMO Capital Markets upgraded shares of Ero Copper from a “market perform” rating to an “outperform” rating in a research report on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Ero Copper currently has an average rating of “Moderate Buy” and a consensus target price of $30.00.

Ero Copper Stock Down 1.9 %

ERO stock opened at $21.03 on Thursday. The company has a market capitalization of $2.17 billion, a P/E ratio of 32.35 and a beta of 1.19. Ero Copper has a 12 month low of $11.35 and a 12 month high of $24.34. The firm’s fifty day simple moving average is $19.83 and its 200-day simple moving average is $20.32. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.82 and a quick ratio of 0.60.

Ero Copper (NYSE:ERO) last issued its earnings results on Thursday, August 1st. The company reported $0.18 EPS for the quarter, beating 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 quarter in the prior year, the company earned $0.24 EPS.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Platinum Investment Management Ltd. acquired a new position in Ero Copper during the fourth quarter worth about $257,000. TD Asset Management Inc increased its holdings in shares of Ero Copper by 48.7% in the fourth quarter. TD Asset Management Inc now owns 595,283 shares of the company’s stock valued at $9,458,000 after purchasing an additional 194,976 shares during the last quarter. Boston Partners increased its holdings in shares of Ero Copper by 226.9% in the first quarter. Boston Partners now owns 726,068 shares of the company’s stock valued at $14,010,000 after purchasing an additional 503,972 shares during the last quarter. Jennison Associates LLC lifted its position in Ero Copper by 39.0% during the first quarter. Jennison Associates LLC now owns 3,998,246 shares of the company’s stock worth $77,117,000 after buying an additional 1,121,095 shares in the last quarter. Finally, Goehring & Rozencwajg Associates LLC boosted its stake in Ero Copper by 22.5% during the second quarter. Goehring & Rozencwajg Associates LLC now owns 340,008 shares of the company’s stock worth $7,266,000 after buying an additional 62,500 shares during the last quarter. 71.30% of the stock is owned by hedge funds and other 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.