Cormark Weighs in on Ero Copper Corp.’s Q2 2024 Earnings (NYSE:ERO)

Ero Copper Corp. (NYSE:ERO) – Investment analysts at Cormark reduced their Q2 2024 earnings estimates for shares of Ero Copper in a research report issued to clients and investors on Tuesday, July 23rd. Cormark analyst S. Ioannou now forecasts that the company will post earnings of $0.28 per share for the quarter, down from their previous forecast of $0.39. The consensus estimate for Ero Copper’s current full-year earnings is $1.84 per share. Cormark also issued estimates for Ero Copper’s Q1 2025 earnings at $0.75 EPS and FY2026 earnings at $2.96 EPS.

Other equities research analysts have also issued research reports about the stock. Ventum Cap Mkts raised shares of Ero Copper from a “hold” rating to a “strong-buy” rating in a report on Monday, July 22nd. BMO Capital Markets raised shares of Ero Copper from a “market perform” rating to an “outperform” rating in a report on Wednesday, June 26th. Jefferies Financial Group upped their target price on shares of Ero Copper from $29.00 to $32.00 and gave the stock a “hold” rating in a report on Friday, July 12th. Pi Financial raised shares of Ero Copper from a “neutral” rating to a “buy” rating in a report on Thursday, April 18th. Finally, Scotiabank raised shares of Ero Copper from a “sector perform” rating to a “sector outperform” rating in a report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

Ero Copper Trading Up 1.8 %

Shares of Ero Copper stock opened at $19.33 on Friday. The firm has a market capitalization of $2.00 billion, a PE ratio of 29.74 and a beta of 1.19. 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’s fifty day moving average price is $21.21 and its two-hundred day moving average price is $19.22. Ero Copper has a 52-week low of $11.35 and a 52-week high of $24.38.

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

Institutional Investors Weigh In On Ero Copper

Hedge funds have recently added to or reduced their stakes in the stock. Acuitas Investments LLC grew its holdings in 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 during the last quarter. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in Ero Copper during the 4th quarter worth about $79,000. Platinum Investment Management Ltd. bought a new stake in Ero Copper during the 4th quarter worth about $257,000. Zurcher Kantonalbank Zurich Cantonalbank grew 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 worth $328,000 after acquiring an additional 3,632 shares during the last quarter. Finally, Aigen Investment Management LP bought a new stake in Ero Copper during the 4th quarter worth about $356,000. Institutional investors 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.