FY2024 Earnings Estimate for Ero Copper Issued By Scotiabank

Ero Copper Corp. (NYSE:ERO) – Stock analysts at Scotiabank issued their FY2024 EPS estimates for shares of Ero Copper in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst O. Wowkodaw expects that the company will post earnings of $0.95 per share for the year. The consensus estimate for Ero Copper’s current full-year earnings is $0.98 per share. Scotiabank also issued estimates for Ero Copper’s FY2025 earnings at $2.92 EPS and FY2026 earnings at $3.79 EPS.

Several other research analysts also recently commented on the company. The Goldman Sachs Group started coverage on Ero Copper in a report on Monday, December 2nd. They set a “buy” rating and a $19.00 price objective on the stock. StockNews.com upgraded Ero Copper from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Ero Copper has an average rating of “Buy” and a consensus price target of $26.33.

Ero Copper Stock Performance

Shares of NYSE:ERO opened at $14.31 on Friday. The firm’s 50 day simple moving average is $14.92 and its 200-day simple moving average is $18.53. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.45 and a current ratio of 0.68. Ero Copper has a one year low of $12.78 and a one year high of $24.34. The firm has a market cap of $1.48 billion, a PE ratio of 84.18 and a beta of 1.12.

Hedge Funds Weigh In On Ero Copper

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tidal Investments LLC grew its position in shares of Ero Copper by 142.5% in the 3rd quarter. Tidal Investments LLC now owns 51,557 shares of the company’s stock worth $1,149,000 after buying an additional 30,299 shares during the last quarter. Barclays PLC increased its position in shares of Ero Copper by 64.4% in the 3rd quarter. Barclays PLC now owns 33,987 shares of the company’s stock valued at $757,000 after acquiring an additional 13,309 shares during the period. Toronto Dominion Bank raised its stake in Ero Copper by 2,172.6% in the 3rd quarter. Toronto Dominion Bank now owns 57,702 shares of the company’s stock worth $1,285,000 after acquiring an additional 55,163 shares during the last quarter. Geode Capital Management LLC grew its stake in Ero Copper by 16.1% during the 3rd quarter. Geode Capital Management LLC now owns 46,940 shares of the company’s stock valued at $1,050,000 after purchasing an additional 6,521 shares during the last quarter. Finally, Impala Asset Management LLC grew its stake in Ero Copper by 12.7% during the 3rd quarter. Impala Asset Management LLC now owns 2,209,610 shares of the company’s stock valued at $49,208,000 after purchasing an additional 248,390 shares during the last quarter. Hedge funds and other institutional investors own 71.30% of the company’s stock.

About Ero Copper

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.