FY2024 EPS Estimates for Ero Copper Corp. Lowered by Raymond James (TSE:ERO)

Ero Copper Corp. (TSE:ERO - Free Report) - Raymond James dropped their FY2024 earnings per share estimates for shares of Ero Copper in a research report issued to clients and investors on Tuesday, September 17th. Raymond James analyst F. Hamed now forecasts that the company will post earnings per share of $2.46 for the year, down from their previous estimate of $2.73. Raymond James currently has a "Outperform" rating and a $36.00 target price 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 $1.65 EPS.

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

A number of other research analysts have also weighed in on the company. TD Securities dropped their price objective on Ero Copper from C$31.00 to C$30.00 and set a "hold" rating on the stock in a report on Tuesday, August 6th. Canaccord Genuity Group raised their price objective on shares of Ero Copper from C$36.00 to C$39.00 in a research note on Monday, July 22nd. CIBC upgraded shares of Ero Copper from a "neutral" rating to an "outperform" rating and upped their target price for the stock from C$32.00 to C$36.00 in a research report on Thursday, June 20th. Ventum Cap Mkts raised shares of Ero Copper from a "hold" rating to a "strong-buy" rating in a report on Monday, July 22nd. Finally, National Bankshares boosted their price target on Ero Copper from C$32.50 to C$33.00 and gave the stock a "sector perform" rating in a research note on Monday, July 15th. 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. According to MarketBeat.com, Ero Copper has a consensus rating of "Moderate Buy" and an average price target of C$33.77.

Ero Copper Stock Performance

Shares of ERO traded up C$1.14 during midday trading on Thursday, reaching C$29.10. 220,098 shares of the stock were exchanged, compared to its average volume of 294,879. The company has a debt-to-equity ratio of 82.63, a current ratio of 0.68 and a quick ratio of 1.43. The business's 50-day moving average price is C$27.31 and its 200 day moving average price is C$27.63. The company has a market capitalization of C$3.00 billion, a price-to-earnings ratio of -111.92, a PEG ratio of -0.72 and a beta of 1.98. Ero Copper has a twelve month low of C$15.72 and a twelve month high of C$32.89.

Insiders Place Their Bets

In other Ero Copper news, Director Lyle Braaten sold 10,000 shares of the company's stock in a transaction dated Friday, June 21st. The shares were sold at an average price of C$28.11, for a total value of C$281,053.00. 10.37% of the stock is currently owned by company insiders.

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.