Ero Copper Corp. Expected to Post Q3 2024 Earnings of $0.38 Per Share (NYSE:ERO)

by · The Markets Daily

Ero Copper Corp. (NYSE:ERO – Free Report) – Equities researchers at Raymond James lowered their Q3 2024 earnings estimates for shares of Ero Copper in a report issued on Tuesday, September 17th. Raymond James analyst F. Hamed now anticipates that the company will post earnings of $0.38 per share for the quarter, down from their previous forecast of $0.65. 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 Q1 2025 earnings at $0.97 EPS, Q2 2025 earnings at $0.87 EPS, Q3 2025 earnings at $0.87 EPS, Q4 2025 earnings at $0.90 EPS and FY2025 earnings at $3.61 EPS.

A number of other equities research analysts also recently issued reports on ERO. BMO Capital Markets upgraded Ero Copper from a “market perform” rating to an “outperform” rating in a research report on Wednesday, June 26th. Scotiabank raised 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. Jefferies Financial Group upgraded shares of Ero Copper from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Finally, Bank of America initiated coverage on shares of Ero Copper in a report on Tuesday, September 3rd. They issued a “buy” rating and a $28.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $30.00.

View Our Latest Report on ERO

Ero Copper Trading Down 2.1 %

Shares of ERO opened at $21.00 on Friday. The stock has a market capitalization of $2.17 billion, a PE ratio of 32.31 and a beta of 1.19. The company’s fifty day moving average is $19.83 and its 200 day moving average is $20.34. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.60 and a current ratio of 0.82. Ero Copper has a fifty-two week low of $11.35 and a fifty-two week high of $24.34.

Ero Copper (NYSE:ERO – Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.01. The business had revenue of $117.10 million during the quarter. Ero Copper had a positive return on equity of 9.89% and a negative net margin of 4.79%. During the same quarter in the prior year, the business earned $0.24 EPS.

Hedge Funds Weigh In On Ero Copper

A number of large investors have recently bought and sold shares of the business. Jennison Associates LLC increased its stake in Ero Copper by 39.0% in the first quarter. Jennison Associates LLC now owns 3,998,246 shares of the company’s stock worth $77,117,000 after purchasing an additional 1,121,095 shares during the period. Russell Investments Group Ltd. increased its stake 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 period. Boston Partners lifted its holdings in Ero Copper by 226.9% during the 1st quarter. Boston Partners now owns 726,068 shares of the company’s stock valued at $14,010,000 after buying an additional 503,972 shares in the last quarter. TD Asset Management Inc boosted its position in Ero Copper by 48.7% in the 4th quarter. TD Asset Management Inc now owns 595,283 shares of the company’s stock valued at $9,458,000 after buying an additional 194,976 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Ero Copper by 32.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 464,047 shares of the company’s stock worth $9,922,000 after acquiring 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

(Get Free Report)

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.

Featured Articles