FY2024 EPS Estimates for Ero Copper Lowered by Analyst

Ero Copper Corp. (NYSE:ERO) – National Bank Financial lowered their FY2024 earnings estimates for Ero Copper in a report issued on Tuesday, February 4th. National Bank Financial analyst S. Nagle now forecasts that the company will earn $0.63 per share for the year, down from their previous estimate of $0.68. The consensus estimate for Ero Copper’s current full-year earnings is $0.92 per share. National Bank Financial also issued estimates for Ero Copper’s FY2025 earnings at $2.55 EPS.

Ero Copper (NYSE:ERO) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.22 by $0.05. The business had revenue of $124.80 million during the quarter, compared to the consensus estimate of $148.80 million. Ero Copper had a net margin of 3.67% and a return on equity of 11.30%. During the same quarter in the previous year, the firm posted $0.18 earnings per share.

Other equities research analysts have also issued research reports about the company. StockNews.com raised Ero Copper from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. The Goldman Sachs Group assumed coverage on shares of Ero Copper in a research note on Monday, December 2nd. They set a “buy” rating and a $19.00 target price on the stock. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $26.33.

Ero Copper Stock Down 2.9 %

Shares of NYSE ERO opened at $13.18 on Friday. Ero Copper has a 12-month low of $12.78 and a 12-month high of $24.34. The stock has a market cap of $1.37 billion, a P/E ratio of 77.55 and a beta of 1.14. The company has a current ratio of 0.68, a quick ratio of 0.45 and a debt-to-equity ratio of 0.71. The business’s fifty day simple moving average is $13.97 and its 200-day simple moving average is $17.46.

Institutional Investors Weigh In On Ero Copper

Several institutional investors have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC purchased a new position in Ero Copper in the third quarter valued at approximately $38,000. Synergy Asset Management LLC purchased a new position in shares of Ero Copper during the fourth quarter worth about $78,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in shares of Ero Copper in the 4th quarter valued at about $125,000. Sentry Investment Management LLC lifted its holdings in shares of Ero Copper by 5.8% in the 4th quarter. Sentry Investment Management LLC now owns 21,716 shares of the company’s stock valued at $293,000 after purchasing an additional 1,188 shares during the last quarter. Finally, Keybank National Association OH boosted its position in shares of Ero Copper by 8.0% in the 4th quarter. Keybank National Association OH now owns 26,120 shares of the company’s stock valued at $352,000 after purchasing an additional 1,946 shares during the period. 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.