Ero Copper Corp. to Post Q2 2024 Earnings of $0.23 Per Share, Raymond James Forecasts (NYSE:ERO)

Ero Copper Corp. (NYSE:ERO) – Stock analysts at Raymond James increased their Q2 2024 earnings estimates for Ero Copper in a research note issued on Monday, April 22nd. Raymond James analyst F. Hamed now forecasts that the company will earn $0.23 per share for the quarter, up from their previous estimate 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 Copper (NYSE:ERO) last released its quarterly earnings results 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 net margin of 21.71% and a return on equity of 13.16%. The business had revenue of $116.41 million during the quarter, compared to analyst estimates of $104.20 million. During the same quarter last year, the company posted $0.24 earnings per share.

Several other research firms also recently commented 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 raised shares of Ero Copper from a “neutral” rating to a “buy” rating in a research report on Thursday, April 18th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $24.00.

Ero Copper Trading Down 3.2 %

ERO stock opened at $18.61 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.94 and a current ratio of 1.23. The company’s 50-day simple moving average is $18.55 and its 200 day simple moving average is $15.90. Ero Copper has a 52 week low of $11.35 and a 52 week high of $24.38. The company has a market capitalization of $1.91 billion, a PE ratio of 18.99 and a beta of 1.26.

Institutional Investors Weigh In On Ero Copper

Several institutional investors and hedge funds have recently bought and sold shares of the company. Kapitalo Investimentos Ltda bought a new stake in Ero Copper during the fourth quarter worth about $5,763,000. Goehring & Rozencwajg Associates LLC lifted its position in Ero Copper by 3.4% during the fourth quarter. Goehring & Rozencwajg Associates LLC now owns 258,308 shares of the company’s stock worth $4,086,000 after purchasing an additional 8,395 shares during the period. CoreCommodity Management LLC bought a new position in shares of Ero Copper in the fourth quarter worth about $660,000. Platinum Investment Management Ltd. bought a new position in shares of Ero Copper in the fourth quarter worth about $257,000. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Ero Copper in the fourth quarter worth about $79,000. Institutional investors own 71.30% of the company’s stock.

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.