Q1 2024 EPS Estimates for Ero Copper Corp. (NYSE:ERO) Cut by Raymond James

Ero Copper Corp. (NYSE:ERO) – Equities researchers at Raymond James reduced their Q1 2024 earnings estimates for shares of Ero Copper in a research report issued 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 estimate 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.

Several other research analysts have also issued reports on ERO. TheStreet upgraded shares of Ero Copper from a “c” rating to a “b-” rating in a research note on Friday, March 8th. Pi Financial upgraded shares of Ero Copper from a “neutral” rating to a “buy” rating in a research note on Thursday, April 18th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $24.00.

Ero Copper Stock Down 0.9 %

Shares of Ero Copper stock opened at $19.23 on Monday. 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 company has a 50-day moving average of $18.46 and a 200 day moving average of $15.88. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of 19.62 and a beta of 1.26. Ero Copper has a 1 year low of $11.35 and a 1 year high of $24.38.

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

Institutional Trading of Ero Copper

Institutional investors and hedge funds have recently bought and sold shares of the company. Acuitas Investments LLC increased its stake in Ero Copper by 61.5% during the 4th quarter. Acuitas Investments LLC now owns 2,100 shares of the company’s stock valued at $33,000 after purchasing an additional 800 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in Ero Copper during the 4th quarter valued at about $79,000. Quantbot Technologies LP bought a new stake in Ero Copper during the 3rd quarter valued at about $131,000. Vanguard Personalized Indexing Management LLC increased its stake in Ero Copper by 7.8% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 11,636 shares of the company’s stock valued at $201,000 after purchasing an additional 843 shares in the last quarter. Finally, Keybank National Association OH grew its stake in shares of Ero Copper by 13.3% in the third quarter. Keybank National Association OH now owns 13,310 shares of the company’s stock worth $229,000 after acquiring an additional 1,560 shares during the period. 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.