National Bank Financial Analysts Cut Earnings Estimates for Ero Copper Corp. (TSE:ERO)

Ero Copper Corp. (TSE:ERO – Get Rating) – Research analysts at National Bank Financial reduced their FY2023 earnings estimates for Ero Copper in a research note issued to investors on Wednesday, August 3rd. National Bank Financial analyst S. Nagle now forecasts that the company will earn $1.64 per share for the year, down from their previous forecast of $1.85. The consensus estimate for Ero Copper’s current full-year earnings is $2.04 per share.

Ero Copper (TSE:ERO – Get Rating) last announced its quarterly earnings data on Monday, May 9th. The company reported C$0.46 EPS for the quarter, missing analysts’ consensus estimates of C$0.51 by C($0.05). The firm had revenue of C$137.96 million for the quarter.

Other analysts have also issued research reports about the stock. Stifel Nicolaus cut their price objective on shares of Ero Copper from C$35.00 to C$27.00 in a research report on Tuesday, July 19th. TD Securities dropped their price target on shares of Ero Copper from C$17.00 to C$16.50 and set a “buy” rating on the stock in a research report on Thursday. Scotiabank dropped their price target on shares of Ero Copper from C$20.00 to C$19.00 in a research report on Thursday. Raymond James dropped their price target on shares of Ero Copper from C$22.00 to C$18.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 19th. Finally, Barclays dropped their price target on shares of Ero Copper from C$21.00 to C$16.00 and set a “na” rating on the stock in a research report on Tuesday, July 19th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Ero Copper has a consensus rating of “Moderate Buy” and a consensus target price of C$21.45.

Ero Copper Stock Performance

Shares of ERO stock opened at C$12.21 on Friday. The company’s fifty day simple moving average is C$12.40 and its 200-day simple moving average is C$15.72. The company has a quick ratio of 1.43, a current ratio of 1.70 and a debt-to-equity ratio of 16.78. The firm has a market cap of C$1.11 billion and a PE ratio of 3.86. Ero Copper has a 12 month low of C$10.54 and a 12 month high of C$25.83.

Insider Activity at Ero Copper

In other Ero Copper news, Director John H. Wright purchased 6,000 shares of the firm’s stock in a transaction that occurred on Friday, May 13th. The shares were acquired at an average cost of C$13.70 per share, for a total transaction of C$82,200.00. Following the completion of the purchase, the director now owns 786,332 shares of the company’s stock, valued at approximately C$10,772,748.40.

Ero Copper Company Profile

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Ero Copper Corp., a base metals mining company, engages in the exploration, development, and production of mining projects in Brazil. It engages in the production and sale of copper concentrate from the MCSA Mining Complex located within the Curaçá Valley, northeastern Bahia state, as well as gold and silver byproducts.