Ero Copper Corp. (TSE:ERO) Forecasted to Post Q2 2024 Earnings of $0.31 Per Share

Ero Copper Corp. (TSE:ERO) – Analysts at Raymond James upped their Q2 2024 earnings estimates for Ero Copper in a report issued on Monday, April 22nd. Raymond James analyst F. Hamed now forecasts that the company will post earnings per share of $0.31 for the quarter, up from their prior 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.

ERO has been the subject of several other research reports. Scotiabank lifted 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 note on Tuesday, February 6th. Pi Financial upgraded shares of Ero Copper from a “neutral” rating to a “buy” rating in a research note on Thursday, April 18th. Canaccord Genuity Group lifted their target price on shares of Ero Copper from C$26.00 to C$34.00 in a research note on Wednesday, April 17th. Cormark lifted their target price on shares of Ero Copper from C$23.50 to C$26.50 in a research note on Monday, March 11th. Finally, BMO Capital Markets boosted their price objective on shares of Ero Copper from C$23.00 to C$23.50 and gave the company a “market perform” rating in a research note on Friday, March 8th. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ero Copper currently has an average rating of “Hold” and an average price target of C$26.83.

Ero Copper Price Performance

ERO opened at C$26.06 on Thursday. The company has a market capitalization 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. 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 firm has a 50-day moving average price of C$25.31 and a 200-day moving average price of C$21.59. Ero Copper has a twelve month low of C$15.72 and a twelve month high of C$32.12.

Ero Copper (TSE:ERO) last posted its quarterly earnings data 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). The company 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.