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

Ero Copper Corp. (NYSE:ERO) – Raymond James cut their Q1 2024 earnings estimates for shares of Ero Copper in a research note issued on Wednesday, April 17th. Raymond James analyst F. Hamed now expects that the company will post earnings of $0.04 per share for the quarter, down from their previous forecast 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.

Ero Copper (NYSE:ERO) last posted its earnings results on Thursday, March 7th. The company reported $0.21 earnings per share 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 firm had revenue of $116.41 million for the quarter, compared to analysts’ expectations of $104.20 million. During the same period last year, the firm earned $0.24 earnings per share.

Other equities research analysts have also recently issued research reports about the stock. TheStreet raised 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 note on Thursday, April 18th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $24.00.

Ero Copper Price Performance

Ero Copper stock opened at $19.23 on Monday. The company’s fifty day moving average price is $18.46 and its 200 day moving average price is $15.88. Ero Copper has a 1 year low of $11.35 and a 1 year high of $24.38. The stock has a market capitalization of $1.98 billion, a P/E ratio of 19.62 and a beta of 1.26. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.94 and a current ratio of 1.23.

Institutional Investors Weigh In On Ero Copper

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