Cormark Research Analysts Increase Earnings Estimates for Ero Copper Corp. (NYSE:ERO)

Ero Copper Corp. (NYSE:ERO) – Equities researchers at Cormark raised their Q3 2024 earnings per share estimates for shares of Ero Copper in a research report issued on Tuesday, July 23rd. Cormark analyst S. Ioannou now forecasts that the company will post earnings of $0.59 per share for the quarter, up from their prior estimate of $0.47. The consensus estimate for Ero Copper’s current full-year earnings is $1.84 per share. Cormark also issued estimates for Ero Copper’s Q4 2024 earnings at $0.90 EPS, FY2024 earnings at $1.70 EPS, Q2 2025 earnings at $0.87 EPS and Q4 2025 earnings at $0.87 EPS.

Ero Copper (NYSE:ERO) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.11. Ero Copper had a return on equity of 10.68% and a net margin of 14.23%. The company had revenue of $105.80 million during the quarter, compared to the consensus estimate of $104.40 million.

ERO has been the subject of several other reports. Ventum Cap Mkts upgraded Ero Copper from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 22nd. Pi Financial upgraded Ero Copper from a “neutral” rating to a “buy” rating in a research note on Thursday, April 18th. Jefferies Financial Group upped their price target on Ero Copper from $29.00 to $32.00 and gave the stock a “hold” rating in a research note on Friday, July 12th. BMO Capital Markets upgraded Ero Copper from a “market perform” rating to an “outperform” rating in a research note on Wednesday, June 26th. Finally, Scotiabank upgraded Ero Copper from a “sector perform” rating to a “sector outperform” rating in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.00.

Ero Copper Trading Up 1.9 %

ERO stock opened at $19.35 on Thursday. Ero Copper has a 1-year low of $11.35 and a 1-year high of $24.38. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.82 and a quick ratio of 0.60. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 29.77 and a beta of 1.19. The business has a 50 day simple moving average of $21.21 and a two-hundred day simple moving average of $19.19.

Institutional Trading of Ero Copper

Hedge funds have recently modified their holdings of the company. Acuitas Investments LLC raised its holdings in shares of 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 acquiring an additional 800 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in shares of Ero Copper during the 4th quarter worth approximately $79,000. Platinum Investment Management Ltd. purchased a new stake in shares of Ero Copper during the 4th quarter worth approximately $257,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Ero Copper by 21.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,656 shares of the company’s stock valued at $328,000 after buying an additional 3,632 shares during the period. Finally, Aigen Investment Management LP purchased a new stake in Ero Copper during the 4th quarter valued at $356,000. 71.30% of the stock is owned by hedge funds and other institutional investors.

Ero Copper Company Profile

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.