Raymond James Has Pessimistic View of Ero Copper Q3 Earnings

Ero Copper Corp. (NYSE:ERO) – Analysts at Raymond James lowered their Q3 2024 EPS estimates for Ero Copper in a note issued to investors 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 estimate 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.

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

Ero Copper Stock Performance

Shares of ERO opened at $19.50 on Friday. The business’s fifty day moving average price is $20.61 and its 200 day moving average price is $20.70. Ero Copper has a 12-month low of $11.35 and a 12-month high of $24.34. The stock has a market capitalization of $2.01 billion, a PE ratio of 30.00 and a beta of 1.20. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.82 and a quick ratio of 0.60.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ERO. Jennison Associates LLC increased its holdings in shares of Ero Copper by 39.0% during the first quarter. Jennison Associates LLC now owns 3,998,246 shares of the company’s stock valued at $77,117,000 after purchasing an additional 1,121,095 shares during the period. Boston Partners grew its holdings in Ero Copper by 226.9% during the first quarter. Boston Partners now owns 726,068 shares of the company’s stock worth $14,010,000 after acquiring an additional 503,972 shares during the period. Lighthouse Investment Partners LLC acquired a new position in Ero Copper during the second quarter worth about $2,521,000. Dimensional Fund Advisors LP grew its holdings in Ero Copper by 32.9% during the second quarter. Dimensional Fund Advisors LP now owns 464,047 shares of the company’s stock worth $9,922,000 after acquiring an additional 115,002 shares during the period. Finally, K.J. Harrison & Partners Inc acquired a new position in Ero Copper during the second quarter worth about $1,581,000. 71.30% of the stock is owned by institutional investors and hedge funds.

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.