Ero Copper Corp. (TSE:ERO) to Post Q1 2024 Earnings of $0.05 Per Share, Raymond James Forecasts

Ero Copper Corp. (TSE:ERO) – Investment analysts at Raymond James dropped their Q1 2024 earnings per share estimates for Ero Copper in a research report issued to clients and investors on Monday, April 22nd. Raymond James analyst F. Hamed now forecasts that the company will post earnings per share of $0.05 for the quarter, down from their prior forecast of $0.06. 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 Q4 2024 earnings at $1.30 EPS.

A number of other equities analysts have also issued reports on the company. Cormark raised their price target on Ero Copper from C$23.50 to C$26.50 in a report on Monday, March 11th. TD Securities raised their price target on Ero Copper from C$24.00 to C$25.00 and gave the stock a “hold” rating in a report on Friday, March 8th. CIBC raised their price target on Ero Copper from C$24.00 to C$28.50 and gave the stock a “neutral” rating in a report on Wednesday, April 17th. Pi Financial raised Ero Copper from a “neutral” rating to a “buy” rating in a report on Thursday, April 18th. Finally, Canaccord Genuity Group lifted their price objective on Ero Copper from C$26.00 to C$34.00 in a report on Wednesday, April 17th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of C$26.83.

Ero Copper Stock Performance

Shares of ERO stock opened at C$26.06 on Wednesday. The stock’s 50-day moving average is C$25.31 and its two-hundred day moving average is C$21.59. The firm has a market cap of C$2.68 billion, a price-to-earnings ratio of 19.59, a PEG ratio of -0.72 and a beta of 2.14. Ero Copper has a 1 year low of C$15.72 and a 1 year high of C$32.12. The company has a debt-to-equity ratio of 55.09, a quick ratio of 1.43 and a current ratio of 1.15.

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

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.