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

Ero Copper Corp. (TSE:ERO) – Equities researchers at Raymond James reduced their FY2024 earnings estimates for Ero Copper in a research report issued on Tuesday, September 17th. Raymond James analyst F. Hamed now expects that the company will post earnings of $2.46 per share for the year, down from their prior estimate of $2.73. 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 Q4 2024 earnings at $1.65 EPS.

Other equities analysts have also recently issued reports about the stock. Scotiabank reduced their price objective on shares of Ero Copper from C$40.00 to C$36.00 in a research report on Monday, August 19th. Jefferies Financial Group upped their price target on shares of Ero Copper from C$29.00 to C$32.00 in a research report on Friday, July 12th. TD Securities lowered 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 increased their target price on Ero Copper from C$36.00 to C$39.00 in a report on Monday, July 22nd. Finally, CIBC raised Ero Copper from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from C$32.00 to C$36.00 in a research note on Thursday, June 20th. Six analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$33.77.

Ero Copper Trading Down 2.1 %

Shares of ERO stock opened at C$28.48 on Thursday. Ero Copper has a 1-year low of C$15.72 and a 1-year high of C$32.89. The company has a market cap of C$2.94 billion, a price-to-earnings ratio of -109.54, a PEG 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 has a 50 day simple moving average of C$27.23 and a 200-day simple moving average of C$27.71.

Ero Copper (TSE:ERO) last issued its quarterly 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. Ero Copper had a negative return on equity of 3.08% and a negative net margin of 4.79%. The company had revenue of C$160.22 million for the quarter, compared to the consensus estimate of C$154.50 million.

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.