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

Ero Copper Corp. (NYSE:ERO) – Research analysts at Raymond James cut their Q1 2024 EPS estimates for Ero Copper in a note issued to investors on Wednesday, April 17th. Raymond James analyst F. Hamed now forecasts that the company will post earnings per share of $0.04 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 announced its 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). The company had revenue of $116.41 million during the quarter, compared to analyst estimates of $104.20 million. Ero Copper had a net margin of 21.71% and a return on equity of 13.16%. During the same quarter last year, the business earned $0.24 EPS.

Other research analysts have also recently issued research reports about the stock. TheStreet upgraded shares of Ero Copper from a “c” rating to a “b-” rating in a report on Friday, March 8th. Pi Financial upgraded shares of Ero Copper from a “neutral” rating to a “buy” rating in a report on Thursday. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $24.00.

Ero Copper Price Performance

Ero Copper stock opened at $20.14 on Monday. 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 has a 1 year low of $11.35 and a 1 year high of $24.38. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of 20.55 and a beta of 1.26. The company’s 50 day simple moving average is $18.28 and its 200-day simple moving average is $15.84.

Hedge Funds Weigh In On Ero Copper

Large investors have recently bought and sold shares of the company. UBS Group AG increased its holdings in shares of Ero Copper by 103.1% in the 4th quarter. UBS Group AG now owns 11,777 shares of the company’s stock valued at $162,000 after purchasing an additional 5,979 shares in the last quarter. Bank of America Corp DE grew its stake in Ero Copper by 77.3% in the 4th quarter. Bank of America Corp DE now owns 10,854 shares of the company’s stock valued at $149,000 after acquiring an additional 4,732 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in Ero Copper in the 4th quarter valued at about $3,677,000. Credit Suisse AG grew its stake in Ero Copper by 11.6% in the 4th quarter. Credit Suisse AG now owns 64,303 shares of the company’s stock valued at $1,199,000 after acquiring an additional 6,676 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Ero Copper by 2.3% in the 4th quarter. The Manufacturers Life Insurance Company now owns 392,139 shares of the company’s stock valued at $5,395,000 after acquiring an additional 8,880 shares during 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.