Raymond James Comments on Ero Copper Corp.’s Q1 2024 Earnings (TSE:ERO)

Ero Copper Corp. (TSE:ERO) – Analysts at Raymond James cut their Q1 2024 earnings per share estimates for Ero Copper in a research note issued on Wednesday, April 17th. Raymond James analyst F. Hamed now forecasts that the company will post earnings of $0.06 per share for the quarter, down from their prior estimate of $0.23. The consensus estimate for Ero Copper’s current full-year earnings is $2.02 per share. Raymond James also issued estimates for Ero Copper’s Q2 2024 earnings at $0.17 EPS, Q3 2024 earnings at $0.94 EPS, FY2024 earnings at $2.28 EPS and FY2025 earnings at $4.04 EPS.

ERO has been the subject of several other research reports. CIBC upped their target price on Ero Copper from C$24.00 to C$28.50 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. BMO Capital Markets upped their target price on Ero Copper from C$23.00 to C$23.50 and gave the stock a “market perform” rating in a research report on Friday, March 8th. National Bankshares upped their target price on Ero Copper from C$22.50 to C$24.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 22nd. Cormark upped their target price on Ero Copper from C$23.50 to C$26.50 in a research report on Monday, March 11th. Finally, Eight Capital boosted their price target on Ero Copper from C$23.50 to C$30.00 and gave the stock a “neutral” rating in a research note on Monday. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Ero Copper has an average rating of “Hold” and a consensus target price of C$26.83.

Ero Copper Price Performance

Shares of TSE ERO opened at C$26.27 on Monday. Ero Copper has a 1-year low of C$15.72 and a 1-year high of C$32.12. The business has a 50-day moving average of C$25.08 and a 200-day moving average of C$21.53. The company has a debt-to-equity ratio of 55.09, a current ratio of 1.15 and a quick ratio of 1.43. The company has a market capitalization of C$2.70 billion, a price-to-earnings ratio of 19.75, a PEG ratio of -0.72 and a beta of 2.14.

Ero Copper (TSE:ERO) last posted its quarterly earnings results on Thursday, March 7th. The company reported C$0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.31 by C($0.02). Ero Copper had a net margin of 21.71% and a return on equity of 13.96%. The firm had revenue of C$158.50 million for the quarter, compared to analysts’ expectations of C$143.80 million.

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.