Ero Copper Corp. to Post Q2 2024 Earnings of $0.39 Per Share, Cormark Forecasts (TSE:ERO)

Ero Copper Corp. (TSE:ERO) – Cormark decreased their Q2 2024 earnings per share (EPS) estimates for shares of Ero Copper in a report released on Tuesday, July 23rd. Cormark analyst S. Ioannou now anticipates that the company will post earnings per share of $0.39 for the quarter, down from their previous forecast of $0.53. The consensus estimate for Ero Copper’s current full-year earnings is $2.25 per share. Cormark also issued estimates for Ero Copper’s Q3 2024 earnings at $0.81 EPS, Q1 2025 earnings at $1.03 EPS, FY2025 earnings at $4.44 EPS and FY2026 earnings at $4.08 EPS.

ERO has been the topic of a number of other research reports. Scotiabank upgraded Ero Copper from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from C$32.00 to C$40.00 in a research report on Thursday, May 30th. TD Securities lifted their price target on Ero Copper from C$30.00 to C$31.00 in a research report on Monday, July 22nd. Pi Financial upgraded shares of Ero Copper from a “neutral” rating to a “buy” rating in a research report on Thursday, April 18th. Raymond James raised their target price on shares of Ero Copper from C$30.00 to C$34.00 in a research note on Thursday, May 23rd. Finally, National Bankshares boosted their price target on shares of 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. Seven research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$34.04.

Ero Copper Stock Up 2.1 %

Shares of TSE:ERO opened at C$26.78 on Friday. The firm has a fifty day moving average price of C$29.05 and a two-hundred day moving average price of C$26.18. The company has a market cap of C$2.76 billion, a price-to-earnings ratio of 30.09, a PEG ratio of -0.72 and a beta of 2.12. The company has a debt-to-equity ratio of 62.41, a current ratio of 0.82 and a quick ratio of 1.43. Ero Copper has a one year low of C$15.72 and a one year high of C$32.89.

Ero Copper (TSE:ERO) last released its quarterly earnings data on Tuesday, May 7th. The company reported C$0.22 EPS for the quarter, beating analysts’ consensus estimates of C$0.07 by C$0.15. The company had revenue of C$142.63 million during the quarter, compared to analyst estimates of C$141.98 million. Ero Copper had a net margin of 14.23% and a return on equity of 9.21%.

Insider Activity at Ero Copper

In other news, Director Lyle Braaten sold 1,208 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of C$29.69, for a total transaction of C$35,865.52. In the last 90 days, insiders have sold 16,208 shares of company stock valued at $464,151. Insiders own 10.93% of the company’s stock.

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.