Brokers Issue Forecasts for Ero Copper Corp.’s FY2024 Earnings (TSE:ERO)

by · The Markets Daily

Ero Copper Corp. (TSE:ERO – Free Report) – Raymond James lifted their FY2024 earnings per share estimates for Ero Copper in a note issued to investors on Monday, September 23rd. Raymond James analyst F. Hamed now anticipates that the company will post earnings per share of $2.49 for the year, up from their prior estimate of $2.46. Raymond James has a “Outperform” rating and a $36.00 price objective 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 Q1 2025 earnings at $1.37 EPS, Q2 2025 earnings at $1.24 EPS, Q3 2025 earnings at $1.25 EPS, Q4 2025 earnings at $1.28 EPS and FY2025 earnings at $5.14 EPS.

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

Other equities research analysts have also issued research reports about the company. Scotiabank dropped their price target on Ero Copper from C$40.00 to C$36.00 in a research report on Monday, August 19th. Ventum Financial dropped their price target on Ero Copper from C$33.00 to C$32.50 in a research report on Thursday, August 22nd. CIBC raised Ero Copper from a “neutral” rating to an “outperform” rating and raised their price target for the stock from C$32.00 to C$36.00 in a research report on Thursday, June 20th. National Bankshares lifted their target price on Ero Copper from C$32.50 to C$33.00 and gave the company a “sector perform” rating in a research report on Monday, July 15th. Finally, BMO Capital Markets lifted their target price on Ero Copper from C$41.00 to C$43.00 in a research report on Tuesday, July 23rd. Six research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$33.77.

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Ero Copper Trading Down 0.9 %

TSE ERO opened at C$30.78 on Thursday. The firm has a market cap of C$3.18 billion, a P/E ratio of -118.38, a P/E/G ratio of -0.72 and a beta of 1.98. 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 stock’s 50-day moving average is C$27.21 and its 200-day moving average is C$27.88. Ero Copper has a one year low of C$15.72 and a one year high of C$32.89.

About Ero Copper

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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.

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