Q2 2024 EPS Estimates for Ero Copper Corp. Boosted by Analyst (NYSE:ERO)

Ero Copper Corp. (NYSE:ERO - Free Report) - Stock analysts at Raymond James boosted their Q2 2024 earnings per share (EPS) estimates for Ero Copper in a research report issued on Monday, April 22nd. Raymond James analyst F. Hamed now anticipates that the company will post earnings per share of $0.23 for the quarter, up from their prior 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.

Several other brokerages also recently weighed in on ERO. Pi Financial raised shares of Ero Copper from a "neutral" rating to a "buy" rating in a research note on Thursday, April 18th. TheStreet raised shares of Ero Copper from a "c" rating to a "b-" rating in a research note on Friday, March 8th. 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 MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $24.00.

Ero Copper Price Performance

ERO stock traded up $0.46 during trading on Thursday, hitting $19.08. The stock had a trading volume of 450,940 shares, compared to its average volume of 336,279. The company's 50 day moving average price is $18.63 and its two-hundred day moving average price is $15.93. Ero Copper has a 1-year low of $11.35 and a 1-year high of $24.38. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of 19.47 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.

Ero Copper (NYSE:ERO - Get Free Report) last released its quarterly earnings results on Thursday, March 7th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.02). Ero Copper had a return on equity of 13.16% and a net margin of 21.71%. The firm had revenue of $116.41 million for the quarter, compared to analyst estimates of $104.20 million. During the same period last year, the firm earned $0.24 EPS.

Institutional Trading of Ero Copper

Institutional investors have recently modified their holdings of the company. 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 acquiring an additional 461,998 shares during the period. Montrusco Bolton Investments Inc. raised its position in shares of Ero Copper by 245.2% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 642,010 shares of the company's stock valued at $11,121,000 after purchasing an additional 456,033 shares in the last quarter. FMR LLC raised its position in shares of Ero Copper by 3.7% in the 3rd quarter. FMR LLC now owns 10,719,365 shares of the company's stock valued at $184,832,000 after purchasing an additional 379,686 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new position in shares of Ero Copper in the 4th quarter valued at approximately $5,763,000. Finally, Impala Asset Management LLC raised its position in shares of Ero Copper by 23.1% in the 3rd quarter. Impala Asset Management LLC now owns 1,836,510 shares of the company's stock valued at $31,661,000 after purchasing an additional 344,410 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.