Brokers Issue Forecasts for Ero Copper FY2024 Earnings

Ero Copper Corp. (NYSE:ERO) – Investment analysts at National Bank Financial reduced their FY2024 EPS estimates for shares of Ero Copper in a research report issued to clients and investors on Tuesday, February 11th. National Bank Financial analyst S. Nagle now anticipates that the company will post earnings per share of $0.52 for the year, down from their previous estimate of $0.63. The consensus estimate for Ero Copper’s current full-year earnings is $0.91 per share. National Bank Financial also issued estimates for Ero Copper’s FY2027 earnings at $2.80 EPS.

ERO has been the subject of a number of other research reports. StockNews.com raised Ero Copper from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. TD Cowen upgraded shares of Ero Copper from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, The Goldman Sachs Group started coverage on shares of Ero Copper in a research note on Monday, December 2nd. They issued a “buy” rating and a $19.00 target price on the stock. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $26.33.

Ero Copper Stock Performance

NYSE ERO opened at $13.17 on Thursday. The company has a 50-day simple moving average of $13.82 and a two-hundred day simple moving average of $17.28. Ero Copper has a 12-month low of $12.70 and a 12-month high of $24.34. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of 77.47 and a beta of 1.14. The company has a quick ratio of 0.45, a current ratio of 0.68 and a debt-to-equity ratio of 0.71.

Institutional Trading of Ero Copper

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ERO. Exchange Traded Concepts LLC purchased a new position in Ero Copper during the 3rd quarter valued at $38,000. Synergy Asset Management LLC purchased a new position in shares of Ero Copper during the fourth quarter valued at about $78,000. Northwest & Ethical Investments L.P. increased its position in shares of Ero Copper by 19.1% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 6,550 shares of the company’s stock valued at $88,000 after buying an additional 1,050 shares during the period. Stonehage Fleming Financial Services Holdings Ltd bought a new position in Ero Copper in the fourth quarter worth about $125,000. Finally, Quantbot Technologies LP purchased a new stake in Ero Copper in the fourth quarter worth about $162,000. Hedge funds and other 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.