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

Ero Copper Corp. (TSE:ERO) – Raymond James boosted their Q2 2024 EPS estimates for Ero Copper in a report released on Monday, April 22nd. Raymond James analyst F. Hamed now anticipates that the company will post earnings per share of $0.31 for the quarter, up from their prior forecast 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 analysts have also commented on ERO. 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 report on Tuesday, February 6th. BMO Capital Markets lifted their target price on shares of Ero Copper from C$23.00 to C$23.50 and gave the stock a “market perform” rating in a report on Friday, March 8th. CIBC lifted their target price on shares of 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 shares of Ero Copper from a “neutral” rating to a “buy” rating in a report on Thursday, April 18th. Finally, Eight Capital lifted their target price on shares of Ero Copper from C$23.50 to C$30.00 and gave the stock a “neutral” rating in a report on Monday. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Ero Copper currently has an average rating of “Hold” and an average target price of C$26.83.

Ero Copper Stock Performance

Shares of Ero Copper stock opened at C$26.06 on Thursday. 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 firm has a market cap of C$2.68 billion, a P/E ratio of 19.59, a P/E/G ratio of -0.72 and a beta of 2.14. The firm has a 50 day simple moving average of C$25.31 and a 200 day simple moving average of C$21.59. Ero Copper has a fifty-two week low of C$15.72 and a fifty-two week high of C$32.12.

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

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.