Analysts Offer Predictions for Ero Copper Corp.’s Q3 2024 Earnings (NYSE:ERO)

Ero Copper Corp. (NYSE:ERO) – Research analysts at Raymond James lifted their Q3 2024 earnings estimates for Ero Copper in a note issued to investors on Thursday, July 18th. Raymond James analyst F. Hamed now expects that the company will post earnings per share of $0.88 for the quarter, up from their previous estimate of $0.87. The consensus estimate for Ero Copper’s current full-year earnings is $1.83 per share. Raymond James also issued estimates for Ero Copper’s Q4 2024 earnings at $1.03 EPS, Q1 2025 earnings at $0.89 EPS, Q2 2025 earnings at $0.89 EPS, Q3 2025 earnings at $0.89 EPS, Q4 2025 earnings at $0.91 EPS and FY2025 earnings at $3.57 EPS.

Several other equities research analysts also recently weighed in on ERO. Scotiabank upgraded Ero Copper from a “sector perform” rating to a “sector outperform” rating in a report on Thursday, May 30th. Ventum Cap Mkts cut Ero Copper from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 28th. StockNews.com cut Ero Copper from a “hold” rating to a “sell” rating in a research report on Friday, July 19th. Jefferies Financial Group raised their price objective on Ero Copper from $29.00 to $32.00 and gave the stock a “hold” rating in a research report on Friday, July 12th. Finally, BMO Capital Markets raised Ero Copper from a “market perform” rating to an “outperform” rating in a research report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $32.00.

Ero Copper Trading Up 1.6 %

Shares of ERO stock opened at $19.63 on Monday. Ero Copper has a 1 year low of $11.35 and a 1 year high of $24.38. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.82 and a quick ratio of 0.60. The stock’s 50 day simple moving average is $21.42 and its two-hundred day simple moving average is $19.18. The company has a market cap of $2.03 billion, a PE ratio of 30.20 and a beta of 1.19.

Ero Copper (NYSE:ERO) last announced its earnings results on Tuesday, May 7th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.11. Ero Copper had a net margin of 14.23% and a return on equity of 10.68%. The firm had revenue of $105.80 million for the quarter, compared to analysts’ expectations of $104.40 million.

Hedge Funds Weigh In On Ero Copper

A number of institutional investors have recently modified their holdings of the stock. Jennison Associates LLC raised its stake in shares of 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 buying an additional 1,121,095 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Ero Copper by 25.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,247,918 shares of the company’s stock worth $35,715,000 after buying an additional 461,998 shares during the last quarter. Montrusco Bolton Investments Inc. boosted its holdings in Ero Copper by 31.7% in the 4th quarter. Montrusco Bolton Investments Inc. now owns 845,623 shares of the company’s stock worth $13,435,000 after buying an additional 203,613 shares during the last quarter. Fiera Capital Corp boosted its holdings in Ero Copper by 24.1% in the 4th quarter. Fiera Capital Corp now owns 785,104 shares of the company’s stock worth $12,454,000 after buying an additional 152,245 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in Ero Copper by 4.1% in the 1st quarter. Russell Investments Group Ltd. now owns 783,756 shares of the company’s stock worth $15,111,000 after buying an additional 30,665 shares during the last quarter. Hedge funds and other institutional investors own 71.30% of the company’s stock.

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.