Raymond James Weighs in on Ero Copper Corp.’s Q2 2024 Earnings (TSE:ERO)

Ero Copper Corp. (TSE:ERO) – Stock analysts at Raymond James raised their Q2 2024 EPS estimates for shares of Ero Copper in a report issued on Monday, April 22nd. Raymond James analyst F. Hamed now forecasts that the company will earn $0.31 per share for the quarter, up from their previous estimate of $0.17. 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 Q3 2024 earnings at $1.11 EPS and FY2024 earnings at $2.76 EPS.

A number of other equities research analysts also recently issued reports on the stock. Scotiabank increased their target price on shares of Ero Copper from C$24.00 to C$25.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 6th. Eight Capital raised their price target on shares of Ero Copper from C$23.50 to C$30.00 and gave the company a “neutral” rating in a report on Monday. National Bankshares raised their price target on shares of Ero Copper from C$22.50 to C$24.00 and gave the company a “sector perform” rating in a report on Thursday, February 22nd. CIBC raised their price target on shares of Ero Copper from C$24.00 to C$28.50 and gave the company a “neutral” rating in a report on Wednesday, April 17th. Finally, TD Securities raised their price target on shares of Ero Copper from C$24.00 to C$25.00 and gave the company a “hold” rating in a report on Friday, March 8th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Ero Copper currently has an average rating of “Hold” and an average target price of C$26.83.

Ero Copper Stock Down 2.9 %

ERO stock opened at C$25.50 on Thursday. Ero Copper has a 12-month low of C$15.72 and a 12-month high of C$32.12. The company has a quick ratio of 1.43, a current ratio of 1.15 and a debt-to-equity ratio of 55.09. The company has a market cap of C$2.62 billion, a price-to-earnings ratio of 19.17, a PEG ratio of -0.72 and a beta of 2.14. The company has a 50 day moving average of C$25.20 and a two-hundred day moving average of C$21.56.

Ero Copper (TSE:ERO) last released its 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 return on equity of 13.96% and a net margin of 21.71%. The company had revenue of C$158.50 million during the quarter, compared to analysts’ expectations of C$143.80 million.

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.