Raymond James Comments on Ero Copper Corp.’s FY2024 Earnings (NYSE:ERO)

Ero Copper Corp. (NYSE:ERO) – Research analysts at Raymond James raised their FY2024 earnings estimates for shares of Ero Copper in a research note issued on Monday, September 23rd. Raymond James analyst F. Hamed now forecasts that the company will post earnings per share of $1.83 for the year, up from their prior forecast of $1.81. Raymond James has a “Outperform” rating on the stock. The consensus estimate for Ero Copper’s current full-year earnings is $1.68 per share. Raymond James also issued estimates for Ero Copper’s Q1 2025 earnings at $1.01 EPS, Q2 2025 earnings at $0.91 EPS, Q3 2025 earnings at $0.92 EPS, Q4 2025 earnings at $0.94 EPS and FY2025 earnings at $3.78 EPS.

Ero Copper (NYSE:ERO) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $117.10 million for the quarter. Ero Copper had a positive return on equity of 9.89% and a negative net margin of 4.79%. During the same period last year, the firm earned $0.24 earnings per share.

ERO has been the topic of a number of other research reports. Ventum Cap Mkts upgraded shares of Ero Copper from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 22nd. Bank of America assumed coverage on Ero Copper in a research report on Tuesday, September 3rd. They set a “buy” rating and a $28.00 price target for the company. Jefferies Financial Group upgraded Ero Copper from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. BMO Capital Markets upgraded Ero Copper from a “market perform” rating to an “outperform” rating in a report on Wednesday, June 26th. Finally, StockNews.com cut shares of Ero Copper from a “hold” rating to a “sell” rating in a report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $30.00.

Ero Copper Stock Down 1.6 %

Shares of NYSE ERO opened at $22.74 on Thursday. The firm’s fifty day moving average is $19.93 and its 200 day moving average is $20.46. Ero Copper has a 52 week low of $11.35 and a 52 week high of $24.34. The company has a quick ratio of 0.60, a current ratio of 0.82 and a debt-to-equity ratio of 0.59. The company has a market cap of $2.35 billion, a price-to-earnings ratio of 34.99 and a beta of 1.19.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Jennison Associates LLC lifted its position in 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 acquiring an additional 1,121,095 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Ero Copper by 4.1% during the first quarter. Russell Investments Group Ltd. now owns 783,756 shares of the company’s stock valued at $15,111,000 after purchasing an additional 30,665 shares during the last quarter. Boston Partners boosted its position in shares of Ero Copper by 226.9% in the 1st quarter. Boston Partners now owns 726,068 shares of the company’s stock worth $14,010,000 after purchasing an additional 503,972 shares in the last quarter. TD Asset Management Inc grew its stake in shares of Ero Copper by 48.7% in the 4th quarter. TD Asset Management Inc now owns 595,283 shares of the company’s stock worth $9,458,000 after buying an additional 194,976 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Ero Copper by 32.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 464,047 shares of the company’s stock valued at $9,922,000 after buying an additional 115,002 shares in 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.