Raymond James Analysts Lower Earnings Estimates for Ero Copper Corp. (TSE:ERO)

Ero Copper Corp. (TSE:ERO) – Equities research analysts at Raymond James reduced their Q3 2024 earnings per share (EPS) estimates for shares of Ero Copper in a report issued on Monday, September 23rd. Raymond James analyst F. Hamed now anticipates that the company will earn $0.50 per share for the quarter, down from their previous forecast of $0.52. Raymond James currently has a “Outperform” rating and a $36.00 price target on the stock. The consensus estimate for Ero Copper’s current full-year earnings is $4.75 per share. Raymond James also issued estimates for Ero Copper’s Q4 2024 earnings at $1.67 EPS.

Ero Copper (TSE:ERO) last announced its quarterly earnings results on Thursday, August 1st. The company reported C$0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.23 by C$0.02. The company had revenue of C$160.22 million for the quarter, compared to analyst estimates of C$154.50 million. Ero Copper had a negative net margin of 4.79% and a negative return on equity of 3.08%.

Several other research firms also recently weighed in on ERO. Ventum Cap Mkts raised Ero Copper from a “hold” rating to a “strong-buy” rating in a report on Monday, July 22nd. TD Securities cut their price target on Ero Copper from C$31.00 to C$30.00 and set a “hold” rating on the stock in a research note on Tuesday, August 6th. BMO Capital Markets upped their price objective on Ero Copper from C$41.00 to C$43.00 in a research note on Tuesday, July 23rd. Ventum Financial dropped their price target on shares of Ero Copper from C$33.00 to C$32.50 in a research note on Thursday, August 22nd. Finally, Scotiabank decreased their price objective on Ero Copper from C$40.00 to C$36.00 in a report on Monday, August 19th. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$33.77.

Ero Copper Stock Performance

Shares of Ero Copper stock opened at C$29.64 on Wednesday. The company’s 50 day moving average price is C$27.18 and its two-hundred day moving average price is C$27.83. The firm has a market capitalization of C$3.06 billion, a P/E ratio of -114.00, a P/E/G ratio of -0.72 and a beta of 1.98. Ero Copper has a fifty-two week low of C$15.72 and a fifty-two week high of C$32.89. The company has a debt-to-equity ratio of 82.63, a current ratio of 0.68 and a quick ratio of 1.43.

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.