Raymond James Has Pessimistic View of Ero Copper Q3 Earnings

Ero Copper Corp. (NYSE:ERO) – Equities researchers at Raymond James lowered their Q3 2024 earnings per share (EPS) estimates for Ero Copper in a research report issued on Wednesday, October 23rd. Raymond James analyst F. Hamed now anticipates that the company will post earnings per share of $0.28 for the quarter, down from their prior forecast of $0.37. Raymond James currently has a “Outperform” rating on the stock. The consensus estimate for Ero Copper’s current full-year earnings is $1.51 per share. Raymond James also issued estimates for Ero Copper’s Q2 2025 earnings at $0.97 EPS.

Ero Copper (NYSE:ERO) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $117.10 million during the quarter. Ero Copper had a positive return on equity of 9.89% and a negative net margin of 4.79%. During the same quarter in the prior year, the business earned $0.24 EPS.

Other analysts have also recently issued research reports about the company. StockNews.com cut Ero Copper from a “hold” rating to a “sell” rating in a research report on Friday, July 19th. Bank of America began coverage on Ero Copper in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $28.00 price target on the stock. Ventum Cap Mkts raised Ero Copper from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 22nd. Finally, Jefferies Financial Group raised Ero Copper from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $30.00.

Ero Copper Trading Up 0.1 %

Ero Copper stock opened at $19.50 on Friday. The stock has a market cap of $2.01 billion, a PE ratio of 30.00 and a beta of 1.20. The stock has a 50-day moving average price of $20.61 and a 200 day moving average price of $20.70. Ero Copper has a 52 week low of $11.35 and a 52 week high of $24.34. The company has a current ratio of 0.82, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59.

Institutional Trading of Ero Copper

Large investors have recently bought and sold shares of the company. Exchange Traded Concepts LLC acquired a new stake in Ero Copper in the third quarter valued at approximately $38,000. Toronto Dominion Bank grew its position in Ero Copper by 38.7% in the second quarter. Toronto Dominion Bank now owns 2,539 shares of the company’s stock valued at $54,000 after acquiring an additional 709 shares in the last quarter. Chesapeake Capital Corp IL acquired a new stake in Ero Copper in the second quarter valued at approximately $351,000. Platinum Investment Management Ltd. grew its position in Ero Copper by 15.9% in the first quarter. Platinum Investment Management Ltd. now owns 18,738 shares of the company’s stock valued at $362,000 after acquiring an additional 2,564 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Ero Copper by 6.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,933 shares of the company’s stock valued at $469,000 after acquiring an additional 1,277 shares in the last quarter. Institutional investors and hedge funds own 71.30% of the company’s stock.

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.