Ero Copper Corp. to Post Q2 2024 Earnings of $0.31 Per Share, Raymond James Forecasts (TSE:ERO)

Ero Copper Corp. (TSE:ERO - Free Report) - Research analysts at Raymond James boosted their Q2 2024 earnings estimates for shares of Ero Copper in a note issued to investors on Monday, April 22nd. Raymond James analyst F. Hamed now anticipates that the company will post earnings of $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.

Several other brokerages have also commented on ERO. Scotiabank lifted their price target 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. Eight Capital lifted their price target on shares of Ero Copper from C$23.50 to C$30.00 and gave the stock a "neutral" rating in a research note on Monday. 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 price target on shares of Ero Copper from C$26.00 to C$34.00 in a research note on Wednesday, April 17th. Finally, CIBC lifted their price target on shares of Ero Copper from C$24.00 to C$28.50 and gave the stock a "neutral" rating in a research note on Wednesday, April 17th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Ero Copper has an average rating of "Hold" and an average price target of C$26.83.

Ero Copper Stock Up 2.2 %

Shares of Ero Copper stock traded up C$0.56 during trading on Thursday, hitting C$26.06. 471,318 shares of the stock were exchanged, compared to its average volume of 310,905. The stock has a market cap of C$2.68 billion, a price-to-earnings ratio of 19.59, a price-to-earnings-growth ratio of -0.72 and a beta of 2.14. The firm's 50-day moving average price is C$25.31 and its 200 day moving average price is C$21.59. Ero Copper has a 12-month low of C$15.72 and a 12-month high of C$32.12. The company has a debt-to-equity ratio of 55.09, a current ratio of 1.15 and a quick ratio of 1.43.

Ero Copper (TSE:ERO - Get Free Report) last released 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%.

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.