FY2024 EPS Estimates for Ero Copper Corp. Increased by Analyst (TSE:ERO)

Ero Copper Corp. (TSE:ERO) – Equities researchers at Cormark boosted their FY2024 earnings per share estimates for Ero Copper in a research report issued to clients and investors on Tuesday, July 23rd. Cormark analyst S. Ioannou now forecasts that the company will earn $2.34 per share for the year, up from their prior estimate of $2.16. The consensus estimate for Ero Copper’s current full-year earnings is $2.25 per share. Cormark also issued estimates for Ero Copper’s Q4 2024 earnings at $1.24 EPS, Q2 2025 earnings at $1.20 EPS, Q3 2025 earnings at $1.02 EPS, Q4 2025 earnings at $1.20 EPS and FY2025 earnings at $4.43 EPS.

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

ERO has been the subject of several other reports. Raymond James raised their price objective on Ero Copper from C$30.00 to C$34.00 in a research note on Thursday, May 23rd. Canaccord Genuity Group increased their price target on Ero Copper from C$36.00 to C$39.00 in a report on Monday. Ventum Financial downgraded Ero Copper from a “buy” rating to a “neutral” rating and increased their price target for the stock from C$31.50 to C$33.00 in a report on Tuesday, May 28th. CIBC upgraded Ero Copper from a “neutral” rating to an “outperform” rating and increased their price target for the stock from C$32.00 to C$36.00 in a report on Thursday, June 20th. Finally, National Bankshares increased their price target on Ero Copper from C$32.50 to C$33.00 and gave the stock a “sector perform” rating in a report on Monday, July 15th. Seven investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Ero Copper presently has an average rating of “Moderate Buy” and a consensus price target of C$34.04.

Ero Copper Price Performance

TSE:ERO opened at C$26.37 on Thursday. The firm has a market capitalization of C$2.72 billion, a price-to-earnings ratio of 29.63, a PEG ratio of -0.72 and a beta of 2.12. Ero Copper has a 1 year low of C$15.72 and a 1 year high of C$32.89. The business has a 50 day simple moving average of C$29.25 and a 200-day simple moving average of C$26.11. The company has a debt-to-equity ratio of 62.41, a current ratio of 0.82 and a quick ratio of 1.43.

Insider Activity

In other news, Director Lyle Braaten sold 1,208 shares of Ero Copper stock in a transaction on Friday, May 10th. The stock was sold at an average price of C$29.69, for a total value of C$35,865.52. In the last three months, insiders have sold 16,208 shares of company stock worth $464,151. 10.93% 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.