View Future GrowthEro Copper 過去の業績過去 基準チェック /56Ero Copperの収益は年間平均-8.7%の割合で減少していますが、 Metals and Mining業界の収益は年間 増加しています。収益は年間18.3% 10.9%割合で 増加しています。 Ero Copperの自己資本利益率は26.8%であり、純利益率は31.6%です。主要情報-8.69%収益成長率-13.81%EPS成長率Metals and Mining 業界の成長27.39%収益成長率10.91%株主資本利益率26.84%ネット・マージン31.63%前回の決算情報31 Mar 2026最近の業績更新Reported Earnings • May 06First quarter 2026 earnings: EPS and revenues exceed analyst expectationsFirst quarter 2026 results: EPS: US$1.04 (up from US$0.78 in 1Q 2025). Revenue: US$263.2m (up 110% from 1Q 2025). Net income: US$108.8m (up 36% from 1Q 2025). Profit margin: 41% (down from 64% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.8%. Earnings per share (EPS) also surpassed analyst estimates by 84%. Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Metals and Mining industry in Canada. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth.お知らせ • Apr 02Ero Copper Corp. to Report Q1, 2026 Results on May 04, 2026Ero Copper Corp. announced that they will report Q1, 2026 results After-Market on May 04, 2026Reported Earnings • Mar 06Full year 2025 earnings: EPS misses analyst expectationsFull year 2025 results: EPS: US$2.54 (up from US$0.66 loss in FY 2024). Revenue: US$785.8m (up 67% from FY 2024). Net income: US$263.7m (up US$332.2m from FY 2024). Profit margin: 34% (up from net loss in FY 2024). The move to profitability was primarily driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 12%. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Metals and Mining industry in Canada. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 17% per year.お知らせ • Jan 31Ero Copper Corp. to Report Q4, 2025 Results on Mar 05, 2026Ero Copper Corp. announced that they will report Q4, 2025 results After-Market on Mar 05, 2026Reported Earnings • Nov 06Third quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behindThird quarter 2025 results: EPS: US$0.35 (down from US$0.40 in 3Q 2024). Revenue: US$177.1m (up 42% from 3Q 2024). Net income: US$36.0m (down 12% from 3Q 2024). Profit margin: 20% (down from 33% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 3.0%. Earnings per share (EPS) exceeded analyst estimates by 23%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Metals and Mining industry in Canada. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings.お知らせ • Oct 08Ero Copper Corp. to Report Q3, 2025 Results on Nov 04, 2025Ero Copper Corp. announced that they will report Q3, 2025 results at 4:00 PM, US Eastern Standard Time on Nov 04, 2025すべての更新を表示Recent updatesナラティブの更新 • May 19ERO: Copper Demand Strength And Furnas Project Will Support Future UpsideThe analyst price target for Ero Copper has been adjusted to CA$48.18 from CA$47.46 as analysts weigh recent target increases tied to company-specific factors and copper demand expectations against more cautious views on potential copper price gains and valuation. Analyst Commentary Recent research shows a mix of optimism and caution on Ero Copper, with several target hikes balanced by a downgrade and a modest target trim.Recent Insider Transactions • May 14Independent Director recently sold CA$418k worth of stockOn the 12th of May, Lyle Braaten sold around 10k shares on-market at roughly CA$41.80 per share. This transaction amounted to 3.8% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of CA$5.7m more than they bought in the last 12 months.ライブニュース • May 13Ero Copper Delivers Solid Q1 2026 Production and Revenue With Lower Net DebtEro Copper reported Q1 2026 consolidated copper production of 17,287 tonnes and gold production of 5,495 ounces, supported by ongoing infrastructure work at the Xavantina operation. Net debt declined 60% year over year, bringing the net leverage ratio to 1.0x, while revenue was more than 110% higher year over year, helped by higher metal prices, foreign exchange gains and operational performance. The company reaffirmed its 2026 copper production guidance of 67,500 to 77,500 tonnes and expects capital expenditures of $275 million to $320 million. It is also advancing the Furnas Copper-Gold Project and tailings filtration expansion at Tucumã, and reported a four-year lost-time injury-free record at Tucumã. The combination of higher revenue, reduced leverage and reaffirmed guidance indicates that the company is allocating capital to growth projects while seeking to keep balance sheet risk in check. Investors may want to monitor how capital spending on Furnas, Tucumã and Xavantina affects future production metrics and whether earnings trends align more consistently with analyst expectations.Major Estimate Revision • May 13Consensus revenue estimates fall by 12%The consensus outlook for revenues in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from US$1.41b to US$1.24b. EPS estimate fell from US$4.79 to US$4.19 per share. Net income forecast to grow 60% next year vs 31% growth forecast for Metals and Mining industry in Canada. Consensus price target of CA$48.18 unchanged from last update. Share price rose 15% to CA$42.50 over the past week.Valuation Update With 7 Day Price Move • May 11Investor sentiment improves as stock rises 17%After last week's 17% share price gain to CA$38.96, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 5x in the Metals and Mining industry in Canada. Total returns to shareholders of 57% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CA$29.47 per share.Reported Earnings • May 06First quarter 2026 earnings: EPS and revenues exceed analyst expectationsFirst quarter 2026 results: EPS: US$1.04 (up from US$0.78 in 1Q 2025). Revenue: US$263.2m (up 110% from 1Q 2025). Net income: US$108.8m (up 36% from 1Q 2025). Profit margin: 41% (down from 64% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.8%. Earnings per share (EPS) also surpassed analyst estimates by 84%. Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Metals and Mining industry in Canada. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth.お知らせ • May 06Ero Copper Corp. Maintains Consolidated Production Guidance for the Fiscal Year 2026Ero Copper Corp. maintained consolidated production guidance for the fiscal year 2026. For the year, the company's Consolidated copper production guidance is maintained at 67,500 tonnes to 77,500 tonnes.Buy Or Sell Opportunity • May 05Now 20% overvaluedOver the last 90 days, the stock has fallen 27% to CA$35.14. The fair value is estimated to be CA$29.27, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 12% per annum. Earnings are also forecast to grow by 15% per annum over the same time period.ナラティブの更新 • Apr 29ERO: Copper Demand Strength And Furnas Development Will Support Future UpsideNarrative Update: Ero Copper Analyst Price Target Shift The updated analyst model points to a slightly lower fair value for Ero Copper, trimming the price target by about CA$0.03. Analysts are balancing higher assumed revenue growth with more conservative profit margins and a modestly higher discount rate after a mix of recent target hikes and cuts across the Street.ナラティブの更新 • Apr 09ERO: Copper Demand Strength And Furnas Project Will Drive Future UpsideThe analyst price target for Ero Copper edges higher to CA$47.49 from CA$47.09, reflecting recent CA$50 to CA$52 target moves from several firms and analyst expectations that copper demand trends support the updated outlook. Analyst Commentary Recent Street research on Ero Copper reflects a mix of constructive and more cautious views, with several firms adjusting price targets and ratings as they reassess copper market trends and the company’s execution risk.Major Estimate Revision • Apr 07Consensus EPS estimates increase by 12%The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from US$1.21b to US$1.22b. EPS estimate increased from US$3.95 to US$4.41 per share. Net income forecast to grow 73% next year vs 36% growth forecast for Metals and Mining industry in Canada. Consensus price target of CA$47.49 unchanged from last update. Share price rose 14% to CA$39.46 over the past week.Valuation Update With 7 Day Price Move • Apr 02Investor sentiment improves as stock rises 15%After last week's 15% share price gain to CA$39.06, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 5x in the Metals and Mining industry in Canada. Total returns to shareholders of 64% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CA$75.50 per share.お知らせ • Apr 02Ero Copper Corp. to Report Q1, 2026 Results on May 04, 2026Ero Copper Corp. announced that they will report Q1, 2026 results After-Market on May 04, 2026ナラティブの更新 • Mar 25ERO: Copper Upswing And Furnas Development Will Drive Future Upside PotentialAnalysts have lifted the CA$ fair value estimate for Ero Copper to CA$47.09, supported by higher Street price targets such as CA$50 at Scotiabank and CA$52 at Canaccord, along with slightly higher modeled revenue growth, profit margins, and a lower future P/E multiple. Analyst Commentary Recent Street research around Ero Copper shows a mix of optimism on upside potential and some caution around execution and sector risks.Major Estimate Revision • Mar 12Consensus EPS estimates fall by 24%The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from US$5.22 to US$3.99 per share. Revenue forecast steady at US$1.24b. Net income forecast to grow 68% next year vs 33% growth forecast for Metals and Mining industry in Canada. Consensus price target of CA$47.90 unchanged from last update. Share price fell 12% to CA$38.02 over the past week.ナラティブの更新 • Mar 11ERO: Copper Price Upswing And Furnas Project Will Shape OutlookOur fair value estimate for Ero Copper edges up from CA$46.33 to CA$47.90. This echoes a series of recent analyst price target increases into the CA$50 to CA$52 range that are supported by a higher assumed future P/E multiple and updated copper market views.Reported Earnings • Mar 06Full year 2025 earnings: EPS misses analyst expectationsFull year 2025 results: EPS: US$2.54 (up from US$0.66 loss in FY 2024). Revenue: US$785.8m (up 67% from FY 2024). Net income: US$263.7m (up US$332.2m from FY 2024). Profit margin: 34% (up from net loss in FY 2024). The move to profitability was primarily driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 12%. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Metals and Mining industry in Canada. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 17% per year.Valuation Update With 7 Day Price Move • Feb 26Investor sentiment improves as stock rises 16%After last week's 16% share price gain to CA$47.05, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 8x in the Metals and Mining industry in Canada. Total returns to shareholders of 102% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CA$75.25 per share.お知らせ • Feb 24Ero Copper Corp. Announces Inaugural PEA for Furnas, Outlines Low Capital Intensity Project with A 24-Year Initial Mine LifeEro Copper Corp. announced results of the Preliminary Economic Assessment ("PEA") on the Furnas Copper-Gold Project ("Furnas" or the "Project"), located in the Carajas Mineral Province in Para State, Brazil. The PEA outlines the potential for a large-scale, long-life copper-gold operation with a robust production profile and exceptional economics, reinforcing Furnas as a cornerstone asset within the Company's organic growth pipeline. Furnas is being advanced in partnership with Vale Base Metals ("VBM") pursuant to an earn-in agreement wherein the Company will earn a 60% interest upon completion of the prescribed work programs. 24-year initial mine life based on an updated mineral resource estimate that remains open to depth and laterally along strike. Average annual copper equivalent production of approximately 108,000 tonnes over the first 15 years of operation, including approximately 70,000 tonnes of copper, 111,000 ounces of gold, and 532,000 ounces of silver per year.ナラティブの更新 • Feb 23ERO: Copper Price Upswing And 2026 Production Plan Will Drive OutlookThe analyst price target for Ero Copper has been raised to CA$46.33 from CA$45.63, as analysts factor in updated assumptions on copper pricing, revenue growth, profit margins, and a lower future P/E multiple. Analyst Commentary Recent Street research on Ero Copper shows a mix of optimism and caution, with several firms adjusting price targets in both directions and at least one ratings change.ナラティブの更新 • Feb 09ERO: Critical Mineral Role And Gold Output Will Shape Balanced OutlookEro Copper's analyst target has been raised by about $4.33 to $45.63, as analysts factor in updated assumptions around growth, margins and future P/E multiples. This change is reflected in a cluster of recent target changes and upgrades.お知らせ • Feb 06Ero Copper Corp. Provides Consolidated Production Guidance for the Fiscal Year 2026Ero Copper Corp. provided consolidated production guidance for the fiscal year 2026. For the year, the company expects Consolidated copper production is expected to be in the range of 67,500 to 77,500 tonnes, representing an increase of up to 20% compared to 2025. Guidance reflects higher sustained plant throughput and lower planned grades at both Caraíba and Tucumã. Consolidated C1 cash costs are expected to be between $2.15 and $2.35 per pound of copper produced.新しいナラティブ • Jan 31Ramp Up At Tucumã And Mechanization At Xavantina Will Reshape Long Term OutlookCatalysts About Ero Copper Ero Copper is a base and precious metals producer with copper operations at Caraíba and Tucumã and a gold operation at Xavantina, all in Brazil. What are the underlying business or industry changes driving this perspective?お知らせ • Jan 31Ero Copper Corp. to Report Q4, 2025 Results on Mar 05, 2026Ero Copper Corp. announced that they will report Q4, 2025 results After-Market on Mar 05, 2026Valuation Update With 7 Day Price Move • Jan 29Investor sentiment improves as stock rises 20%After last week's 20% share price gain to CA$51.21, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 9x in the Metals and Mining industry in Canada. Total returns to shareholders of 141% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CA$65.66 per share.分析記事 • Jan 28A Piece Of The Puzzle Missing From Ero Copper Corp.'s (TSE:ERO) 28% Share Price ClimbDespite an already strong run, Ero Copper Corp. ( TSE:ERO ) shares have been powering on, with a gain of 28% in the...Recent Insider Transactions • Jan 28Independent Director recently sold CA$1.3m worth of stockOn the 23rd of January, Robert Hinman Getz sold around 30k shares on-market at roughly CA$44.79 per share. This transaction amounted to 23% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth CA$1.4m. Insiders have been net sellers, collectively disposing of CA$4.5m more than they bought in the last 12 months.お知らせ • Jan 27Ero Copper Corp., Annual General Meeting, Apr 23, 2026Ero Copper Corp., Annual General Meeting, Apr 23, 2026.ナラティブの更新 • Jan 26ERO: Critical Mineral Status And Gold Windfall Will Shape Balanced OutlookThe analyst price target for Ero Copper has been raised from $37.97 to $41.30 as analysts factor in updated assumptions for revenue growth, margins and future P/E, supported by a series of recent target hikes and upgrades across the Street. Analyst Commentary Bullish Takeaways Bullish analysts are lifting price targets in both US$ and C$, which signals higher assumed fair value for Ero Copper based on their updated models.Price Target Changed • Jan 22Price target increased by 7.1% to CA$41.30Up from CA$38.57, the current price target is an average from 15 analysts. New target price is approximately in line with last closing price of CA$42.62. Stock is up 108% over the past year. The company is forecast to post earnings per share of US$3.00 next year compared to a net loss per share of US$0.66 last year.ナラティブの更新 • Jan 09ERO: Gold Windfall And Critical Mineral Status Will Guide Balanced OutlookNarrative Update The analyst price target for Ero Copper has moved higher to reflect a fair value of about $38, with analysts citing recent target increases across the Street and updated expectations for revenue growth, margins and future P/E following the surprise gold windfall disclosure. Analyst Commentary Recent Street research on Ero Copper reflects a mix of optimism around new gold related upside and caution around execution risk and current valuation.Recent Insider Transactions • Jan 06Independent Lead Director recently sold CA$1.4m worth of stockOn the 5th of January, John Wright sold around 35k shares on-market at roughly CA$41.11 per share. This transaction amounted to 7.8% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of CA$2.7m more than they bought in the last 12 months.ナラティブの更新 • Dec 15ERO: Gold Windfall And Critical Mineral Status Will Shape Balanced OutlookWe increase our fair value estimate for Ero Copper to approximately $37.43 per share from $35.80, reflecting analysts' higher price targets following upgraded ratings, improved long term revenue growth and margin expectations, and incremental upside from the recently identified gold windfall. Analyst Commentary Recent Street research reflects a more constructive stance on Ero Copper overall, but with a clear split between optimistic and cautious voices as the market digests the impact of stronger commodity price forecasts, the gold windfall, and project execution risks.ナラティブの更新 • Nov 30ERO: Surprise Gold Windfall And Critical Mineral Listing Will Shape OutlookEro Copper's analyst price target has increased modestly from C$35.33 to C$35.80, as analysts cite positive catalysts including surprise gold windfall developments and upwardly revised commodity forecasts. Analyst Commentary Recent analyst actions reflect both increased optimism and newly noted risks surrounding Ero Copper.Recent Insider Transactions • Nov 30Independent Director recently sold CA$1.3m worth of stockOn the 28th of November, Lyle Braaten sold around 37k shares on-market at roughly CA$35.22 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of CA$1.0m more than they bought in the last 12 months.分析記事 • Nov 29Is Ero Copper (TSE:ERO) A Risky Investment?Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...Valuation Update With 7 Day Price Move • Nov 27Investor sentiment improves as stock rises 15%After last week's 15% share price gain to CA$33.97, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 7x in the Metals and Mining industry in Canada. Total returns to shareholders of 92% over the past three years.ナラティブの更新 • Nov 16ERO: New Gold Reserve Monetization Will Drive Near-Term UpsideEro Copper’s analyst price target has increased from C$33.93 to C$35.33. Analysts point to newly monetizable gold reserves and higher commodity price forecasts as key drivers behind the upward revision.Reported Earnings • Nov 06Third quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behindThird quarter 2025 results: EPS: US$0.35 (down from US$0.40 in 3Q 2024). Revenue: US$177.1m (up 42% from 3Q 2024). Net income: US$36.0m (down 12% from 3Q 2024). Profit margin: 20% (down from 33% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 3.0%. Earnings per share (EPS) exceeded analyst estimates by 23%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Metals and Mining industry in Canada. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings.お知らせ • Nov 05Ero Copper Corp. Provides Production Guidance for the Fourth Quarter and Full Year 2025Ero Copper Corp. provided production guidance for the Fourth quarter and full Year 2025. For the full year The company maintained guidance with overall production expected at the low end of the 67,500 to 80,000-tonne range. Production in Fourth Quarter 2025 is expected to improve due to increased plant throughput at both the Caraíba and Tucumã Operations, with Tucumã also expected to benefit from mine sequencing in higher grade blocks of the open pit.ナラティブの更新 • Nov 02ERO: Drilling Success and Gold Momentum Will Drive Earnings Upside AheadThe consensus analyst price target for Ero Copper has been raised from approximately $31.67 to $33.93. This change reflects increased optimism due to higher projected copper and gold prices, as well as improved revenue growth and profit margins.ナラティブの更新 • Oct 18Mechanization Upgrades Will Support Sustainable Copper DemandThe analyst consensus price target for Ero Copper has increased significantly from C$27.71 to C$31.67. Analysts cite stronger revenue growth projections and rising gold price forecasts as key drivers for the uplift.お知らせ • Oct 08Ero Copper Corp. to Report Q3, 2025 Results on Nov 04, 2025Ero Copper Corp. announced that they will report Q3, 2025 results at 4:00 PM, US Eastern Standard Time on Nov 04, 2025Price Target Changed • Oct 06Price target increased by 7.8% to CA$28.21Up from CA$26.16, the current price target is an average from 14 analysts. New target price is 6.7% below last closing price of CA$30.23. Stock is up 6.1% over the past year. The company is forecast to post earnings per share of US$2.91 next year compared to a net loss per share of US$0.66 last year.ナラティブの更新 • Oct 04Mechanization Upgrades Will Support Sustainable Copper DemandThe analyst price target for Ero Copper has increased by approximately $2, now standing at $27.71. Analysts cite strengthened profit margins and favorable commodity market outlooks, despite mixed changes in individual ratings and targets.Valuation Update With 7 Day Price Move • Sep 29Investor sentiment improves as stock rises 16%After last week's 16% share price gain to CA$27.79, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 8x in the Metals and Mining industry in Canada. Total returns to shareholders of 80% over the past three years.分析記事 • Sep 25Ero Copper Corp. (TSE:ERO) Held Back By Insufficient Growth Even After Shares Climb 31%Ero Copper Corp. ( TSE:ERO ) shares have had a really impressive month, gaining 31% after a shaky period beforehand...お知らせ • Sep 18Ero Copper Corp. Announces the Remaining Assay Results from Its 28,000-Meter Phase 1 Drill Program At the Furnas Copper-Gold ProjectEro Copper Corp. announced the remaining assay results from its 28,000-meter Phase 1 drill program at the Furnas Copper-Gold Project ("Furnas" or the "Project"), located in the Carajas Mineral Province in Para State, Brazil. Complete results from the Phase 1 program are highlighted by intercepts that continue to demonstrate high-grade continuity throughout the deposit as well as significantly extend the known limits of mineralization within the high-grade zones (greater than 1% CuEq1) to depth. New Phase 1 program drill results are highlighted by: FURN-DD-00322: 115 meters at 0.76% copper and 0.47 grams per tonne ("gpt") gold (0.98% CuEq1), including 46 meters at 0.81% copper and 0.56 gpt gold (1.11% CuEq1) and 28 meters at 0.91% copper and 0.71 gpt gold (1.25% CuEq1). Ero expects to complete the 17,000-meter Phase 2 drill program in early Fourth Quarter 2025, approximately three months ahead of schedule. The complete results from the Phase 1 drill program will serve as the foundation for an updated NI 43-101 compliant mineral resource estimate as well as a preliminary economic assessment ("PEA") of the Project. Using a 1.00% copper equivalent cut-off grade, the mineral resource estimate, effective June 30, 2024, totaled: Indicated Mineral Resource: 35.2 million tonnes grading 1.04% copper and 0.69 gpt gold (1.36% CuEq1), containing an estimated 364,700 tonnes of copper and 775,300 ounces of gold; Inferred Mineral Resource: 61.3 million tonnes grading 1.06% copper and 0.63 gpt gold (1. 36% CuEq1),containing an estimated 647,400 tonnes of copper and 1,235,600 ounces of gold. For additional information on the Project's mineral resource estimate, please see the Company's press release dated October 2, 2024 as well as the corresponding technical report titled "Furnas Copper Project - Para State, Brazil - NI 43-101 Mineral Resource Estimate Technical Report", dated November 18, 2024 with an effective date of June 30, 2024, prepared for the Company by Anderson Goncalves Candido, FAusIMM of RPMGlobal Canada Limited ("RPM"). All sample results from the Phase 1 drill programs have been monitored through a quality assurance and quality control ("QA/QC") program that includes adherence to the internal operational procedures and the insertion of certified standards, blanks and duplicates at a rate of three standards, one coarse blank, one fine blank, one field duplicate, one coarse duplicate, and one pulp duplicate for every 50 total samples, yielding a blended QC rate of approximately 16%.Valuation Update With 7 Day Price Move • Sep 11Investor sentiment improves as stock rises 15%After last week's 15% share price gain to CA$23.40, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 8x in the Metals and Mining industry in Canada. Total returns to shareholders of 69% over the past three years.Reported Earnings • Aug 01Second quarter 2025 earnings: EPS and revenues exceed analyst expectationsSecond quarter 2025 results: EPS: US$0.68 (up from US$0.52 loss in 2Q 2024). Revenue: US$163.5m (up 40% from 2Q 2024). Net income: US$70.5m (up US$123.8m from 2Q 2024). Profit margin: 43% (up from net loss in 2Q 2024). The move to profitability was primarily driven by lower expenses. Revenue exceeded analyst estimates by 3.7%. Earnings per share (EPS) also surpassed analyst estimates by 102%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Metals and Mining industry in Canada. Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings.お知らせ • Aug 01Ero Copper Corp. Reaffirms Production Guidance for the Year 2025Ero Copper Corp. reaffirmed production guidance for the year 2025. The company is reaffirming full-year guidance at Caraíba, and updating guidance ranges at Tucumã and Xavantina to reflect H1 2025 performance. At the Caraíba Operations, programs launched in H1 2025 to enhance operating efficiency and cost control are delivering strong margin performance compared to full-year guidance. These ongoing initiatives include (i) focusing the Pilar Mine's fleet on the upper levels of the mine to reduce haul distances, (ii) implementing new technologies aimed at enhancing both safety and productivity, and (iii) improving fleet and mine infrastructure maintenance initiatives to increase mobile equipment availability and reduce unplanned downtime. While these efforts are expected to result in full-year copper production at the lower end of the 37,500 to 42,500 tonne guidance range, C1 cash costs are projected to fall within the lower half of the guidance range of $2.15 to $2.35 per pound. Sequential increases in mined and processed volumes are expected to contribute to higher copper production over the remainder of the year. At the Tucumã Operation, full-year copper production guidance has been updated to 30,000 to 37,500 tonnes at C1 cash costs of $1.10 to $1.30 per pound of copper produced to reflect lower-than-forecast tonnes processed in H1 2025. Updated full-year guidance reflects a significant expected increase in copper production during H2 2025, consistent with original 2025 guidance. At the Xavantina Operations, full-year production guidance has been updated to 40,000 to 50,000 ounces with C1 cash costs of $850 to $1,000 per ounce of gold produced and AISC of $1,800 to $2,000 per ounce to reflect lower-than- planned production in H1 2025. Ongoing investments in mine modernization and mechanization are expected to drive a step-change in mining rates in H2 2025, resulting in higher projected production and lower unit costs that align with the long-term outlook for the operation.Major Estimate Revision • Jul 16Consensus EPS estimates fall by 17%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from US$828.0m to US$799.1m. EPS estimate also fell from US$3.23 per share to US$2.68 per share. Net income forecast to grow 1,321% next year vs 33% growth forecast for Metals and Mining industry in Canada. Consensus price target down from CA$27.00 to CA$25.96. Share price was steady at CA$19.53 over the past week.分析記事 • Jul 15Is Ero Copper (TSE:ERO) A Risky Investment?Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...お知らせ • Jul 10Ero Copper Corp. Announces the Completion of Its Phase 1 Drill Program At the Furnas Copper-Gold ProjectEro Copper Corp. announced the completion of its Phase 1 drill program at the Furnas Copper-Gold Project ("Furnas" or the "Project"), located in the Carajas Mineral Province in Para State, Brazil. Initial results from the completed 28,000-meter Phase 1 program are highlighted by significant down-dip intercepts, including: FURN-DD-00284: 105 meters at 1.17% copper and 0.77 grams per tonne ("gpt") gold (1.54% CuEq1), including 63 meters at 1.30% copper and 1.13 gpt gold (1.84% CuEq1), drilled in the Southeast zone at the limit of the previously defined indicated resource; and, FURN-DD-00271: 75 meters at 1.02% copper and 0.59 gpt gold (1.30% CuEq1"), including 30 meters at 1.71% copper and 1.05 gpt gold (2.21% CuEq1), and 15 meters at 2.30% copper and 1.,60 gpt gold (3.06% CuEq1), also drilled in the Southeast zone, approximately 70 meters down-dip from the previously known extent of mineralization. To date, assay results have been received for approximately 10,000 meters of the 28,000-meter drill program. The results continue to both demonstrate continuity and extend the known limits of mineralization within the high-grade mineralized zones (greater than 1% CuEq1) that are the focus of future underground mining operations. Complete results from the program will be released following receipt of all pending assay results. There are currently eight drill rigs operating on the Project, where the Phase 2 drill program is underway. This program is expected to comprise a minimum of 17,000 meters of drilling and includes a greater focus on step-out drilling aimed at further extending known mineralization. The complete results from the Phase 1 drill program will serve as the foundation for an updated NI 43-101 mineral resource estimate as well as a preliminary economic assessment ("PEA") of the Project. Using a 1.00% copper equivalent cut-off grade, the mineral resource estimate, effective June 30, 2024, totaled: Indicated Mineral Resource: 35.2 million tonnes grading 1.04% copper and 0.69 gpt gold (1.36% CuEq1), containing an estimated 364,700 tonnes of copper and 775,300 ounces of gold; Inferred Mineral Resource: 61.3 million tonnes grading 1.06% copper and 0.63 gpt gold (1. 36% CuEq1), consisting an estimated 647,400 tonnes of copper and 1,235,600 ounces of gold.Valuation Update With 7 Day Price Move • Jul 09Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to CA$19.51, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 7x in the Metals and Mining industry in Canada. Total returns to shareholders of 74% over the past three years.New Risk • Jul 03New major risk - Revenue and earnings growthEarnings have declined by 20% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 20% per year over the past 5 years. Minor Risks High level of debt (78% net debt to equity). Profit margins are more than 30% lower than last year (3.9% net profit margin).お知らせ • Jul 03Ero Copper Corp Achieves Commercial Production At Tucum OperationEro Copper Corp. announced that the Tucum Operation, located in Par State, Brazil, achieved commercial production, effective July 1, 2025. During the month of June, following the completion of commissioning of the third filter press as well as modifications to the process plant, the operation achieved sustained throughput levels exceeding 75% of design capacity. Copper production at Tucum totaled approximately 6,400 tonnes during the second quarter, including approximately 2,000 tonnes of copper produced during the second half of June. Metallurgical recovery rates and copper concentrate grades have continued to meet or exceed design targets. The Company expects plant throughput volumes to continue increasing through year-end, supporting sequential growth in copper production during the second half of the year.お知らせ • Jun 25Ero Copper Corp. to Report Q2, 2025 Results on Jul 31, 2025Ero Copper Corp. announced that they will report Q2, 2025 results After-Market on Jul 31, 2025分析記事 • May 07Ero Copper Corp. Just Recorded A 397% EPS Beat: Here's What Analysts Are Forecasting NextIt's been a pretty great week for Ero Copper Corp. ( TSE:ERO ) shareholders, with its shares surging 13% to CA$19.46 in...Reported Earnings • May 07First quarter 2025 earnings releasedFirst quarter 2025 results: Net income: (up US$7.14m from 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 98 percentage points per year, which is a significant difference in performance.お知らせ • May 06Ero Copper Corp. Reaffirms Consolidated Production Guidance for the Year 2025Ero Copper Corp. reaffirmed consolidated production guidance for the year 2025. Consolidated copper production for 2025 is expected to increase sequentially each quarter, with full-year production projected to range between 75,000 and 85,000 tonnes. At the Tucumã Operation, production is anticipated to increase sequentially throughout the year, with higher mill throughput volumes expected to offset a gradual decline in processed copper grades. At the Caraíba Operations, the Company achieved targeted mining rates at the Pilar Mine in March 2025 and completed the mobilization of a second underground development contractor during the quarter. As a result, higher mined and processed tonnage is expected to be sustained for the remainder of the year. At the Xavantina Operations, the Company is also reaffirming production guidance of 50,000 to 60,000 ounces with higher processed tonnage and improved gold grades projected to support increased gold production and lower unit operating costs through the balance of the year.分析記事 • May 04Revenues Not Telling The Story For Ero Copper Corp. (TSE:ERO) After Shares Rise 25%Those holding Ero Copper Corp. ( TSE:ERO ) shares would be relieved that the share price has rebounded 25% in the last...分析記事 • Apr 15Is Ero Copper (TSE:ERO) Using Too Much Debt?The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...お知らせ • Apr 02Ero Copper Corp. to Report Q1, 2025 Results on May 05, 2025Ero Copper Corp. announced that they will report Q1, 2025 results After-Market on May 05, 2025Reported Earnings • Mar 07Full year 2024 earnings: EPS and revenues miss analyst expectationsFull year 2024 results: US$0.66 loss per share (down from US$0.99 profit in FY 2023). Revenue: US$470.3m (up 10.0% from FY 2023). Net loss: US$68.5m (down 174% from profit in FY 2023). Production and reserves: Copper Production: 40,600 t (43,857 t in FY 2023) Proved and probable reserves (ore): 82.77 Mt (122 Mt in FY 2023) Number of mines: 2 (2 in FY 2023) Gold Production: 57.21 troy koz (59.222 troy koz in FY 2023) Number of mines: 1 (1 in FY 2023) Silver Production: 33.927 troy koz (37.674 troy koz in FY 2023) Number of mines: 1 (1 in FY 2023) Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Metals and Mining industry in Canada. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance.分析記事 • Mar 03Ero Copper Corp.'s (TSE:ERO) Price Is Out Of Tune With RevenuesWith a median price-to-sales (or "P/S") ratio of close to 3x in the Metals and Mining industry in Canada, you could be...新しいナラティブ • Feb 23Advancements At Tucumã And Caraíba Will Strengthen Future Copper Output Completion of the Tucumã operation and Furnas Copper-Gold exploration could drive future revenue growth as production and exploration progress. 分析記事 • Feb 15What Does The Future Hold For Ero Copper Corp. (TSE:ERO)? These Analysts Have Been Cutting Their EstimatesToday is shaping up negative for Ero Copper Corp. ( TSE:ERO ) shareholders, with the analysts delivering a substantial...Major Estimate Revision • Feb 14Consensus revenue estimates decrease by 11%The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from US$536.7m to US$477.9m. EPS estimate unchanged from US$0.026 per share at last update. Metals and Mining industry in Canada expected to see average net income growth of 22% next year. Consensus price target down from CA$30.27 to CA$27.59. Share price rose 7.4% to CA$20.50 over the past week.Price Target Changed • Feb 12Price target decreased by 7.3% to CA$28.27Down from CA$30.50, the current price target is an average from 11 analysts. New target price is 50% above last closing price of CA$18.82. Stock is down 3.6% over the past year. The company is forecast to post earnings per share of US$0.026 for next year compared to US$0.99 last year.お知らせ • Feb 12Ero Copper Corp. Provides Consolidated Production Guidance for the Fiscal Year 2025, 2026 and 2027Ero Copper Corp. provided consolidated production guidance for the fiscal year 2025, 2026 and 2027. For the year 2025, consolidated copper production is expected to increase by approximately 85% to 110% year-on-year to a range of 75,000 and 85,000 tonnes at consolidated C1 cash costs between $1.55 and $1.80 per pound of copper produced with the Tucumã Operation expected to achieve commercial production in first half of 2025. The Xavantina Operations are expected to produce 50,000 to 60,000 ounces of gold at C1 cash costs between $650 and $800 per ounce of gold produced and all-in sustaining costs ("AISC") between $1,400 and $1,600 per ounce of gold produced. Consolidated copper production across the company's operations is expected to reach between 85,000 and 95,000 tonnes in concentrate in 2026 and 2027. The Xavantina Operations are expected to sustain annual gold production levels of 50,000 to 60,000 ounces through 2027.お知らせ • Feb 11Ero Copper Corp., Annual General Meeting, Apr 24, 2025Ero Copper Corp., Annual General Meeting, Apr 24, 2025. Location: british columbia., vancouver CanadaMajor Estimate Revision • Feb 07Consensus EPS estimates fall by 62%The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from US$0.372 to US$0.14. Revenue forecast unchanged from US$522.7m at last update. Net income forecast to grow 1,273% next year vs 29% growth forecast for Metals and Mining industry in Canada. Consensus price target broadly unchanged at CA$29.91. Share price was steady at CA$19.08 over the past week.お知らせ • Feb 06Ero Copper Corp. to Report Q4, 2024 Results on Mar 06, 2025Ero Copper Corp. announced that they will report Q4, 2024 results After-Market on Mar 06, 2025Major Estimate Revision • Jan 24Consensus EPS estimates increase by 42%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from US$530.3m to US$538.2m. EPS estimate increased from US$0.415 to US$0.589 per share. Net income forecast to grow 1,826% next year vs 29% growth forecast for Metals and Mining industry in Canada. Consensus price target of CA$31.05 unchanged from last update. Share price was steady at CA$20.36 over the past week.Major Estimate Revision • Jan 17Consensus EPS estimates increase by 15%The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from US$0.411 to US$0.474. Revenue forecast steady at US$531.6m. Net income forecast to grow 1,688% next year vs 32% growth forecast for Metals and Mining industry in Canada. Consensus price target of CA$31.05 unchanged from last update. Share price was steady at CA$20.47 over the past week.お知らせ • Dec 04Ero Copper Corp. Announces Updated Mineral Reserve and Resource Estimates for the Xavantina OperationsEro Copper Corp. announced an update of its National Instrument 43-101 compliant mineral reserve and resource estimates for its Xavantina Operations, located in Mato Grosso State, Brazil. The company dual strategy remains focused on extending mine life and discovering new vein structures to expand mine and mill feed, enabling the company to fully utilize the mill's installed capacity of up to 300,000 tonnes per annum. The company's dual strategy remains focused on extending Mine life and discovering new vein structures To expand mine and mill feed, allowing company to fully utilize the Mill's installed capacity of up to300,000 tonnes per annum." The company's Notes on Mineral Reserves and Mineral Resources section of this press release for a discussion on the assumptions, parameters and methods used to estimate the mineral reserves for 2024. The 2024 mineral reserve and mineral resource estimates are effective as at June 30, 2024. Mineral resources are presented, including mineral reserves. All figures have been rounded to the relative accuracy of the estimates. Summed amounts may not add due to rounding. Mineral resources that are not mineral reserves do not have a demonstrated economic viability. The 2024 mineral reserve and resource estimates for the Xavantina Operations are prepared under the supervision of and verified by Mr. Cid Gonçalves Monteiro Filho, SME RM (04317974), MAIG (No. 8444), FAusIMM (No. 329148) and Resource Manager of the Company who is a “qualified person” within the meanings of NI 43-101. Reference herein of $or USD is to United States dollars and BRL is to Brazilian reais. Mineral Reserves for the Xavantina Operations have been estimated using a gold price of $1,900/oz, and the exchange rate used for mineral reserve and resource estimates was USD/BRL 5.10. Grade shells using a value of 1.20 gpt gold were used to generate a 3D mineralization model of the Xavantina Operations. Within the grade shells, mineral resources were estimated using ordinary kriging within 10 meter by 10 meter by 2 meter block size, with a minimum sub- block size of 1.0 meter by 1.0 meter by 0.5 meter, and the mineral resource estimate was constrained using a minimum stope dimension of 2.0 meters by 2.0 meters by 1.5 meters, a cut-off of 1.20 gpt based on underground mining and processing costs of US$72 per tonne and a gold price of US$1,900 per ounce. The 2024 mineral reserve estimates were prepared in accordance with the CIM Standards and the CIM Guidelines, using geostatistical and/or classical methods, plus economic and mining parameters appropriate for the deposit. Mineral reserves are the economic portion of the measured and indicated mineral resources. Mineral reserve estimates include operational dilution of 17.4% plus planned dilution of approximately 8.5% within each stope for room- and-pillar mining areas and operational dilution of 3.2% plus planned dilution of 21.2% for cut-and-fill mining areas. Mining recovery of 92.5% and 94.7% assumed for room-and-pillar and cut-and-fill areas, respectively. Practical mining shapes (wireframes) were designed using geological wireframes /mineral resource block models as a guide.お知らせ • Nov 06+ 2 more updatesEro Copper Corp. Announces CEO Changes, Effective January 1, 2025Ero Copper Corp. announced the next phase of its leadership succession plan, effective January 1, 2025. David Strang, co-founder and current Chief Executive Officer will assume the role of Executive Chairman, and Makko DeFilippo, President and Chief Operating Officer, will be appointed as Chief Executive Officer. Mr. DeFilippo joined Ero in January 2017 as Vice President, Corporate Development, where he played a key role in supporting the Company through its initial public offering in October 2017. He was promoted to President in January 2021 and assumed the additional role of Chief Operating Officer in March 2023. Over his tenure, Mr. DeFilippo has been instrumental in elevating several strategic initiatives, including the transformation of the Xavantina Operations from a non-core asset into a high-margin, core asset of the Company. He led the successful negotiation and completion of the $110 million streaming transaction with Royal Gold Inc. and was key in establishing the Company’s partnership with Vale Base Metals on the Furnas Copper-Gold Project earn-in agreement, announced in July 2024. Additionally, Mr. DeFilippo guided the construction of the Tucumã Operation, which was successfully completed on schedule earlier this year. Mr. DeFilippo holds a M.Sc. in Metallurgical Engineering from the Colorado School of Mines and a B.Sc. in Geological Engineering from the University of Arizona.お知らせ • Oct 17Ero Copper Confirms Full Power Restoration At the Tucumã OperationEro Copper Corp. confirmed that full power has been restored at its Tucumã Operation following a temporary disruption caused by a severe localized windstorm in the southwest region of the Carajás Mineral Province in Pará State, Brazil on October 5, 2024. With power now restored, the Company has safely resumed the ramp-up of milling, flotation, and filtration circuits within the processing plant.お知らせ • Oct 08Ero Copper Corp. to Report Q3, 2024 Results on Nov 05, 2024Ero Copper Corp. announced that they will report Q3, 2024 results After-Market on Nov 05, 2024お知らせ • Aug 03Ero Copper Corp. Provides Production Guidance for the Year 2024Ero Copper Corp. provided production guidance for the year 2024. The Company is reaffirming its consolidated copper production guidance of 59,000 to 72,000 tonnes in concentrate, with production expected to be weighted towards H2 2024 largely due to the projected ramp-up of production at the Tucumã Project. Contributions from the Tucumã Project, combined with significantly lower concentrate treatment and refining charges, as well as a more favorable USD to BRL exchange rate, are expected to result in lower consolidated copper C1 cash costs in H2 2024 compared to H1 2024. As a result, the Company is reaffirming its full-year consolidated copper C1 cash cost guidance range of $1.50 to $1.75 per pound of copper produced. The Company is reaffirming its increased full-year gold production guidance range of 60,000 to 65,000 ounces. While slightly lower production is projected to result in higher unit costs in H2 2024 compared to H1 2024, the Company is lowering its 2024 gold cost guidance to reflect exceptional year-to-date unit cost performance. Full-year gold C1 cash cost guidance is now $450 to $550 (originally $550 to $650) per ounce of gold produced, and AISC guidance has been reduced to $900 to $1,000 (from $1,050 to $1,150) per ounce of gold produced. The Company's cost guidance for 2024 assumes a foreign exchange rate of 5.00 BRL per USD, a gold price of $1,900 per ounce and a silver price of $23.00 per ounce.お知らせ • Jul 31Ero Copper Corp. Announces Temporary Suspension of Operations At CaraíbaEro Copper Corp. announced that the tragic loss of a member of its team, who succumbed to injuries sustained in a light-duty truck accident at the Caraíba Operations. A second team member is in critical condition. Details surrounding the incident, which occurred in a non-operational area on surface, are still under investigation. In response to this tragedy, the Company immediately activated its emergency response and safety protocols which included suspending operations, notifying the relevant government authorities, and undertaking a full investigation. Operations at Caraíba are expected to resume tomorrow.分析記事 • Jul 17Returns On Capital Signal Tricky Times Ahead For Ero Copper (TSE:ERO)If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Typically, we'll...お知らせ • Jul 09Ero Copper Corp. to Report Q2, 2024 Results on Aug 01, 2024Ero Copper Corp. announced that they will report Q2, 2024 results After-Market on Aug 01, 2024分析記事 • Jun 28Is Ero Copper (TSE:ERO) Using Too Much Debt?Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...Recent Insider Transactions • Jun 23Independent Director recently sold CA$281k worth of stockOn the 21st of June, Lyle Braaten sold around 10k shares on-market at roughly CA$28.11 per share. This transaction amounted to 3.2% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth CA$641k. Insiders have been net sellers, collectively disposing of CA$661k more than they bought in the last 12 months.お知らせ • Jun 14Ero Copper Corp. Receives Operational License for Tucumã Project, Commissioning on Track for First Copper Production Early Third Quarter of 2024Ero Copper Corp. announced that it has received the Operational License for the Tucumã Project - the last remaining permitting milestone for commercial operation. With physical completion at approximately 99%, commissioning well advanced, and over 90% of the operational staff hired and trained, first concentrate continues to be expected early in the third quarter of 2024. The total direct capital cost estimate for Project completion remains unchanged at approximately $310 million. Highlights: Permitting: Project awarded Operational License by the Pará State environmental agency, Secretaria de Estado de Meio Ambiente e Sustentabilidade (SEMAS) Construction: Physical construction of the Project has reached approximately 99% completion. All mechanical equipment and electrical installations complete, ball mill successfully handed over to operations Pre-stripping activities completed ahead of schedule, and full mining operations have commenced. To date, approximately 110,000 tonnes of ore have been placed on the run-of-mine stockpile with an additional 55,000 tonnes of ore drilled and ready to be blasted in the mine. Process control room, on-site process laboratory, and administrative offices complete. Remaining piping, electric cabling and instrumentation installations on track to complete construction by the end of Second Quarter 2024. Commissioning Plan: Commissioning activities continue to progress on site. First ore through primary and secondary crushers as well as screening and conveyance systems completed with approximately 10,000 tonnes of ore placed on the crushed ore stockpile to date. Mechanical completion and sub-component commissioning (lubrication, hydraulic, electrical, instrumentation and automation systems) completed. First charge through the milling circuit completed, flotation and filtration commissioning nearing completion - Project remains on track to achieve first production and initiate Project ramp-up in early Third Quarter 2024. People & Safety: To date, there have been no lost-time injuries on the Project, with over six million hours of work completed since 2022: Additionally, all site-based management positions have been filled and over 90% of the operational staff required for full-scale operations have been hired and fully trained. Project Capital Estimate: Direct Project capital expenditure for completion remains unchanged at approximately $310 Million.Valuation Update With 7 Day Price Move • Jun 04Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to CA$26.08, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 5x in the Metals and Mining industry in Canada. Total loss to shareholders of 5.8% over the past three years.分析記事 • May 28Ero Copper Corp.'s (TSE:ERO) Popularity With Investors Is ClearEro Copper Corp.'s ( TSE:ERO ) price-to-earnings (or "P/E") ratio of 38.7x might make it look like a strong sell right...Recent Insider Transactions Derivative • May 15Independent Director exercised options to buy CA$536k worth of stock.On the 10th of May, Chantal Gosselin exercised 20.00k options to receive shares at no cost, then sold around 2.03k of them at CA$21.09 each and kept the remainder. Since December 2023, Chantal has owned 10.17k shares directly. Company insiders have collectively bought CA$2.5m more than they sold, via options and on-market transactions, in the last 12 months.Recent Insider Transactions • May 13Independent Director recently sold CA$641k worth of stockOn the 10th of May, Lyle Braaten sold around 21k shares on-market at roughly CA$30.20 per share. This transaction amounted to 6.2% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of CA$732k more than they bought in the last 12 months.お知らせ • May 09Ero Copper Corp. Updates Production Guidance for the Year 2024Ero Copper Corp. updated production guidance for the year 2024. For the year, the company is increasing its 2024 gold production guidance from 55,000 to 60,000 ounces to a range of 60,000 to 65,000 ounces. The Company expects mined and processed gold grades to remain above plan through the remainder of H1 2024, as positive grade reconciliations have continued into Second Quarter 2024. While this trend may continue beyond Second Quarter 2024, the Company is projecting a reversion to long-term block model grades for planned mining areas in H2 2024. As a result of higher full-year production expectations, the Company is guiding towards the low end of its full-year cost guidance for the Xavantina Operations. Consolidated copper production of 59,000 to 72,000 tonnes in concentrate is expected to be weighted towards H2 2024, largely due to the anticipated commencement of production at the Tucumã Project in early Third Quarter 2024. Consequently, consolidated copper C1 cash costs are projected to be lower in H2 2024 versus H1 2024.Reported Earnings • May 08First quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behindFirst quarter 2024 results: US$0.069 loss per share (down from US$0.26 profit in 1Q 2023). Revenue: US$105.8m (up 4.8% from 1Q 2023). Net loss: US$7.14m (down 130% from profit in 1Q 2023). Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Metals and Mining industry in Canada. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.Price Target Changed • Apr 23Price target increased by 7.8% to CA$29.81Up from CA$27.66, the current price target is an average from 12 analysts. New target price is 13% above last closing price of CA$26.27. Stock is up 1.5% over the past year. The company is forecast to post earnings per share of US$1.33 for next year compared to US$0.99 last year.収支内訳Ero Copper の稼ぎ方とお金の使い方。LTMベースの直近の報告された収益に基づく。収益と収入の歴史TSX:ERO 収益、費用、利益 ( )USD Millions日付収益収益G+A経費研究開発費31 Mar 2692429275031 Dec 2578626474030 Sep 2558813857030 Jun 2553614356031 Mar 254901954031 Dec 24470-6860030 Sep 244641766030 Jun 24444-2162031 Mar 244326262031 Dec 234279362030 Sep 234287867030 Jun 234088070031 Mar 234187461031 Dec 2242610257030 Sep 2244513952030 Jun 2247016247031 Mar 2247622149031 Dec 2149020147030 Sep 2144620744030 Jun 2142921241031 Mar 2137913638031 Dec 203245237030 Sep 203093140030 Jun 202751640031 Mar 202812440031 Dec 192859239030 Sep 192945836030 Jun 192814735031 Mar 192651433031 Dec 18233-332030 Sep 18219133030 Jun 182041531031 Mar 181762427031 Dec 171482224030 Sep 17783190質の高い収益: EROは 高品質の収益 を持っています。利益率の向上: EROの現在の純利益率 (31.6%)は、昨年(3.9%)よりも高くなっています。フリー・キャッシュフローと収益の比較過去の収益成長分析収益動向: EROの収益は過去 5 年間で年間8.7%減少しました。成長の加速: EROの過去 1 年間の収益成長率 ( 1447% ) は、5 年間の平均 ( 年間-8.7%を上回っています。収益対業界: EROの過去 1 年間の収益成長率 ( 1447% ) はMetals and Mining業界129.4%を上回りました。株主資本利益率高いROE: EROの 自己資本利益率 ( 26.8% ) は 高い とみなされます。総資産利益率使用総資本利益率過去の好業績企業の発掘7D1Y7D1Y7D1YMaterials 、過去の業績が好調な企業。View Financial Health企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/21 14:25終値2026/05/21 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Ero Copper Corp. 14 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。33 アナリスト機関Stefan IoannouATB CormarkStefan IoannouATB Cormark Historical (Cormark Securities)Matthew MurphyBarclays30 その他のアナリストを表示
Reported Earnings • May 06First quarter 2026 earnings: EPS and revenues exceed analyst expectationsFirst quarter 2026 results: EPS: US$1.04 (up from US$0.78 in 1Q 2025). Revenue: US$263.2m (up 110% from 1Q 2025). Net income: US$108.8m (up 36% from 1Q 2025). Profit margin: 41% (down from 64% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.8%. Earnings per share (EPS) also surpassed analyst estimates by 84%. Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Metals and Mining industry in Canada. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth.
お知らせ • Apr 02Ero Copper Corp. to Report Q1, 2026 Results on May 04, 2026Ero Copper Corp. announced that they will report Q1, 2026 results After-Market on May 04, 2026
Reported Earnings • Mar 06Full year 2025 earnings: EPS misses analyst expectationsFull year 2025 results: EPS: US$2.54 (up from US$0.66 loss in FY 2024). Revenue: US$785.8m (up 67% from FY 2024). Net income: US$263.7m (up US$332.2m from FY 2024). Profit margin: 34% (up from net loss in FY 2024). The move to profitability was primarily driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 12%. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Metals and Mining industry in Canada. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 17% per year.
お知らせ • Jan 31Ero Copper Corp. to Report Q4, 2025 Results on Mar 05, 2026Ero Copper Corp. announced that they will report Q4, 2025 results After-Market on Mar 05, 2026
Reported Earnings • Nov 06Third quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behindThird quarter 2025 results: EPS: US$0.35 (down from US$0.40 in 3Q 2024). Revenue: US$177.1m (up 42% from 3Q 2024). Net income: US$36.0m (down 12% from 3Q 2024). Profit margin: 20% (down from 33% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 3.0%. Earnings per share (EPS) exceeded analyst estimates by 23%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Metals and Mining industry in Canada. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings.
お知らせ • Oct 08Ero Copper Corp. to Report Q3, 2025 Results on Nov 04, 2025Ero Copper Corp. announced that they will report Q3, 2025 results at 4:00 PM, US Eastern Standard Time on Nov 04, 2025
ナラティブの更新 • May 19ERO: Copper Demand Strength And Furnas Project Will Support Future UpsideThe analyst price target for Ero Copper has been adjusted to CA$48.18 from CA$47.46 as analysts weigh recent target increases tied to company-specific factors and copper demand expectations against more cautious views on potential copper price gains and valuation. Analyst Commentary Recent research shows a mix of optimism and caution on Ero Copper, with several target hikes balanced by a downgrade and a modest target trim.
Recent Insider Transactions • May 14Independent Director recently sold CA$418k worth of stockOn the 12th of May, Lyle Braaten sold around 10k shares on-market at roughly CA$41.80 per share. This transaction amounted to 3.8% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of CA$5.7m more than they bought in the last 12 months.
ライブニュース • May 13Ero Copper Delivers Solid Q1 2026 Production and Revenue With Lower Net DebtEro Copper reported Q1 2026 consolidated copper production of 17,287 tonnes and gold production of 5,495 ounces, supported by ongoing infrastructure work at the Xavantina operation. Net debt declined 60% year over year, bringing the net leverage ratio to 1.0x, while revenue was more than 110% higher year over year, helped by higher metal prices, foreign exchange gains and operational performance. The company reaffirmed its 2026 copper production guidance of 67,500 to 77,500 tonnes and expects capital expenditures of $275 million to $320 million. It is also advancing the Furnas Copper-Gold Project and tailings filtration expansion at Tucumã, and reported a four-year lost-time injury-free record at Tucumã. The combination of higher revenue, reduced leverage and reaffirmed guidance indicates that the company is allocating capital to growth projects while seeking to keep balance sheet risk in check. Investors may want to monitor how capital spending on Furnas, Tucumã and Xavantina affects future production metrics and whether earnings trends align more consistently with analyst expectations.
Major Estimate Revision • May 13Consensus revenue estimates fall by 12%The consensus outlook for revenues in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from US$1.41b to US$1.24b. EPS estimate fell from US$4.79 to US$4.19 per share. Net income forecast to grow 60% next year vs 31% growth forecast for Metals and Mining industry in Canada. Consensus price target of CA$48.18 unchanged from last update. Share price rose 15% to CA$42.50 over the past week.
Valuation Update With 7 Day Price Move • May 11Investor sentiment improves as stock rises 17%After last week's 17% share price gain to CA$38.96, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 5x in the Metals and Mining industry in Canada. Total returns to shareholders of 57% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CA$29.47 per share.
Reported Earnings • May 06First quarter 2026 earnings: EPS and revenues exceed analyst expectationsFirst quarter 2026 results: EPS: US$1.04 (up from US$0.78 in 1Q 2025). Revenue: US$263.2m (up 110% from 1Q 2025). Net income: US$108.8m (up 36% from 1Q 2025). Profit margin: 41% (down from 64% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.8%. Earnings per share (EPS) also surpassed analyst estimates by 84%. Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Metals and Mining industry in Canada. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth.
お知らせ • May 06Ero Copper Corp. Maintains Consolidated Production Guidance for the Fiscal Year 2026Ero Copper Corp. maintained consolidated production guidance for the fiscal year 2026. For the year, the company's Consolidated copper production guidance is maintained at 67,500 tonnes to 77,500 tonnes.
Buy Or Sell Opportunity • May 05Now 20% overvaluedOver the last 90 days, the stock has fallen 27% to CA$35.14. The fair value is estimated to be CA$29.27, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 12% per annum. Earnings are also forecast to grow by 15% per annum over the same time period.
ナラティブの更新 • Apr 29ERO: Copper Demand Strength And Furnas Development Will Support Future UpsideNarrative Update: Ero Copper Analyst Price Target Shift The updated analyst model points to a slightly lower fair value for Ero Copper, trimming the price target by about CA$0.03. Analysts are balancing higher assumed revenue growth with more conservative profit margins and a modestly higher discount rate after a mix of recent target hikes and cuts across the Street.
ナラティブの更新 • Apr 09ERO: Copper Demand Strength And Furnas Project Will Drive Future UpsideThe analyst price target for Ero Copper edges higher to CA$47.49 from CA$47.09, reflecting recent CA$50 to CA$52 target moves from several firms and analyst expectations that copper demand trends support the updated outlook. Analyst Commentary Recent Street research on Ero Copper reflects a mix of constructive and more cautious views, with several firms adjusting price targets and ratings as they reassess copper market trends and the company’s execution risk.
Major Estimate Revision • Apr 07Consensus EPS estimates increase by 12%The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from US$1.21b to US$1.22b. EPS estimate increased from US$3.95 to US$4.41 per share. Net income forecast to grow 73% next year vs 36% growth forecast for Metals and Mining industry in Canada. Consensus price target of CA$47.49 unchanged from last update. Share price rose 14% to CA$39.46 over the past week.
Valuation Update With 7 Day Price Move • Apr 02Investor sentiment improves as stock rises 15%After last week's 15% share price gain to CA$39.06, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 5x in the Metals and Mining industry in Canada. Total returns to shareholders of 64% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CA$75.50 per share.
お知らせ • Apr 02Ero Copper Corp. to Report Q1, 2026 Results on May 04, 2026Ero Copper Corp. announced that they will report Q1, 2026 results After-Market on May 04, 2026
ナラティブの更新 • Mar 25ERO: Copper Upswing And Furnas Development Will Drive Future Upside PotentialAnalysts have lifted the CA$ fair value estimate for Ero Copper to CA$47.09, supported by higher Street price targets such as CA$50 at Scotiabank and CA$52 at Canaccord, along with slightly higher modeled revenue growth, profit margins, and a lower future P/E multiple. Analyst Commentary Recent Street research around Ero Copper shows a mix of optimism on upside potential and some caution around execution and sector risks.
Major Estimate Revision • Mar 12Consensus EPS estimates fall by 24%The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from US$5.22 to US$3.99 per share. Revenue forecast steady at US$1.24b. Net income forecast to grow 68% next year vs 33% growth forecast for Metals and Mining industry in Canada. Consensus price target of CA$47.90 unchanged from last update. Share price fell 12% to CA$38.02 over the past week.
ナラティブの更新 • Mar 11ERO: Copper Price Upswing And Furnas Project Will Shape OutlookOur fair value estimate for Ero Copper edges up from CA$46.33 to CA$47.90. This echoes a series of recent analyst price target increases into the CA$50 to CA$52 range that are supported by a higher assumed future P/E multiple and updated copper market views.
Reported Earnings • Mar 06Full year 2025 earnings: EPS misses analyst expectationsFull year 2025 results: EPS: US$2.54 (up from US$0.66 loss in FY 2024). Revenue: US$785.8m (up 67% from FY 2024). Net income: US$263.7m (up US$332.2m from FY 2024). Profit margin: 34% (up from net loss in FY 2024). The move to profitability was primarily driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 12%. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Metals and Mining industry in Canada. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 17% per year.
Valuation Update With 7 Day Price Move • Feb 26Investor sentiment improves as stock rises 16%After last week's 16% share price gain to CA$47.05, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 8x in the Metals and Mining industry in Canada. Total returns to shareholders of 102% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CA$75.25 per share.
お知らせ • Feb 24Ero Copper Corp. Announces Inaugural PEA for Furnas, Outlines Low Capital Intensity Project with A 24-Year Initial Mine LifeEro Copper Corp. announced results of the Preliminary Economic Assessment ("PEA") on the Furnas Copper-Gold Project ("Furnas" or the "Project"), located in the Carajas Mineral Province in Para State, Brazil. The PEA outlines the potential for a large-scale, long-life copper-gold operation with a robust production profile and exceptional economics, reinforcing Furnas as a cornerstone asset within the Company's organic growth pipeline. Furnas is being advanced in partnership with Vale Base Metals ("VBM") pursuant to an earn-in agreement wherein the Company will earn a 60% interest upon completion of the prescribed work programs. 24-year initial mine life based on an updated mineral resource estimate that remains open to depth and laterally along strike. Average annual copper equivalent production of approximately 108,000 tonnes over the first 15 years of operation, including approximately 70,000 tonnes of copper, 111,000 ounces of gold, and 532,000 ounces of silver per year.
ナラティブの更新 • Feb 23ERO: Copper Price Upswing And 2026 Production Plan Will Drive OutlookThe analyst price target for Ero Copper has been raised to CA$46.33 from CA$45.63, as analysts factor in updated assumptions on copper pricing, revenue growth, profit margins, and a lower future P/E multiple. Analyst Commentary Recent Street research on Ero Copper shows a mix of optimism and caution, with several firms adjusting price targets in both directions and at least one ratings change.
ナラティブの更新 • Feb 09ERO: Critical Mineral Role And Gold Output Will Shape Balanced OutlookEro Copper's analyst target has been raised by about $4.33 to $45.63, as analysts factor in updated assumptions around growth, margins and future P/E multiples. This change is reflected in a cluster of recent target changes and upgrades.
お知らせ • Feb 06Ero Copper Corp. Provides Consolidated Production Guidance for the Fiscal Year 2026Ero Copper Corp. provided consolidated production guidance for the fiscal year 2026. For the year, the company expects Consolidated copper production is expected to be in the range of 67,500 to 77,500 tonnes, representing an increase of up to 20% compared to 2025. Guidance reflects higher sustained plant throughput and lower planned grades at both Caraíba and Tucumã. Consolidated C1 cash costs are expected to be between $2.15 and $2.35 per pound of copper produced.
新しいナラティブ • Jan 31Ramp Up At Tucumã And Mechanization At Xavantina Will Reshape Long Term OutlookCatalysts About Ero Copper Ero Copper is a base and precious metals producer with copper operations at Caraíba and Tucumã and a gold operation at Xavantina, all in Brazil. What are the underlying business or industry changes driving this perspective?
お知らせ • Jan 31Ero Copper Corp. to Report Q4, 2025 Results on Mar 05, 2026Ero Copper Corp. announced that they will report Q4, 2025 results After-Market on Mar 05, 2026
Valuation Update With 7 Day Price Move • Jan 29Investor sentiment improves as stock rises 20%After last week's 20% share price gain to CA$51.21, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 9x in the Metals and Mining industry in Canada. Total returns to shareholders of 141% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CA$65.66 per share.
分析記事 • Jan 28A Piece Of The Puzzle Missing From Ero Copper Corp.'s (TSE:ERO) 28% Share Price ClimbDespite an already strong run, Ero Copper Corp. ( TSE:ERO ) shares have been powering on, with a gain of 28% in the...
Recent Insider Transactions • Jan 28Independent Director recently sold CA$1.3m worth of stockOn the 23rd of January, Robert Hinman Getz sold around 30k shares on-market at roughly CA$44.79 per share. This transaction amounted to 23% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth CA$1.4m. Insiders have been net sellers, collectively disposing of CA$4.5m more than they bought in the last 12 months.
お知らせ • Jan 27Ero Copper Corp., Annual General Meeting, Apr 23, 2026Ero Copper Corp., Annual General Meeting, Apr 23, 2026.
ナラティブの更新 • Jan 26ERO: Critical Mineral Status And Gold Windfall Will Shape Balanced OutlookThe analyst price target for Ero Copper has been raised from $37.97 to $41.30 as analysts factor in updated assumptions for revenue growth, margins and future P/E, supported by a series of recent target hikes and upgrades across the Street. Analyst Commentary Bullish Takeaways Bullish analysts are lifting price targets in both US$ and C$, which signals higher assumed fair value for Ero Copper based on their updated models.
Price Target Changed • Jan 22Price target increased by 7.1% to CA$41.30Up from CA$38.57, the current price target is an average from 15 analysts. New target price is approximately in line with last closing price of CA$42.62. Stock is up 108% over the past year. The company is forecast to post earnings per share of US$3.00 next year compared to a net loss per share of US$0.66 last year.
ナラティブの更新 • Jan 09ERO: Gold Windfall And Critical Mineral Status Will Guide Balanced OutlookNarrative Update The analyst price target for Ero Copper has moved higher to reflect a fair value of about $38, with analysts citing recent target increases across the Street and updated expectations for revenue growth, margins and future P/E following the surprise gold windfall disclosure. Analyst Commentary Recent Street research on Ero Copper reflects a mix of optimism around new gold related upside and caution around execution risk and current valuation.
Recent Insider Transactions • Jan 06Independent Lead Director recently sold CA$1.4m worth of stockOn the 5th of January, John Wright sold around 35k shares on-market at roughly CA$41.11 per share. This transaction amounted to 7.8% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of CA$2.7m more than they bought in the last 12 months.
ナラティブの更新 • Dec 15ERO: Gold Windfall And Critical Mineral Status Will Shape Balanced OutlookWe increase our fair value estimate for Ero Copper to approximately $37.43 per share from $35.80, reflecting analysts' higher price targets following upgraded ratings, improved long term revenue growth and margin expectations, and incremental upside from the recently identified gold windfall. Analyst Commentary Recent Street research reflects a more constructive stance on Ero Copper overall, but with a clear split between optimistic and cautious voices as the market digests the impact of stronger commodity price forecasts, the gold windfall, and project execution risks.
ナラティブの更新 • Nov 30ERO: Surprise Gold Windfall And Critical Mineral Listing Will Shape OutlookEro Copper's analyst price target has increased modestly from C$35.33 to C$35.80, as analysts cite positive catalysts including surprise gold windfall developments and upwardly revised commodity forecasts. Analyst Commentary Recent analyst actions reflect both increased optimism and newly noted risks surrounding Ero Copper.
Recent Insider Transactions • Nov 30Independent Director recently sold CA$1.3m worth of stockOn the 28th of November, Lyle Braaten sold around 37k shares on-market at roughly CA$35.22 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of CA$1.0m more than they bought in the last 12 months.
分析記事 • Nov 29Is Ero Copper (TSE:ERO) A Risky Investment?Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
Valuation Update With 7 Day Price Move • Nov 27Investor sentiment improves as stock rises 15%After last week's 15% share price gain to CA$33.97, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 7x in the Metals and Mining industry in Canada. Total returns to shareholders of 92% over the past three years.
ナラティブの更新 • Nov 16ERO: New Gold Reserve Monetization Will Drive Near-Term UpsideEro Copper’s analyst price target has increased from C$33.93 to C$35.33. Analysts point to newly monetizable gold reserves and higher commodity price forecasts as key drivers behind the upward revision.
Reported Earnings • Nov 06Third quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behindThird quarter 2025 results: EPS: US$0.35 (down from US$0.40 in 3Q 2024). Revenue: US$177.1m (up 42% from 3Q 2024). Net income: US$36.0m (down 12% from 3Q 2024). Profit margin: 20% (down from 33% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 3.0%. Earnings per share (EPS) exceeded analyst estimates by 23%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Metals and Mining industry in Canada. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings.
お知らせ • Nov 05Ero Copper Corp. Provides Production Guidance for the Fourth Quarter and Full Year 2025Ero Copper Corp. provided production guidance for the Fourth quarter and full Year 2025. For the full year The company maintained guidance with overall production expected at the low end of the 67,500 to 80,000-tonne range. Production in Fourth Quarter 2025 is expected to improve due to increased plant throughput at both the Caraíba and Tucumã Operations, with Tucumã also expected to benefit from mine sequencing in higher grade blocks of the open pit.
ナラティブの更新 • Nov 02ERO: Drilling Success and Gold Momentum Will Drive Earnings Upside AheadThe consensus analyst price target for Ero Copper has been raised from approximately $31.67 to $33.93. This change reflects increased optimism due to higher projected copper and gold prices, as well as improved revenue growth and profit margins.
ナラティブの更新 • Oct 18Mechanization Upgrades Will Support Sustainable Copper DemandThe analyst consensus price target for Ero Copper has increased significantly from C$27.71 to C$31.67. Analysts cite stronger revenue growth projections and rising gold price forecasts as key drivers for the uplift.
お知らせ • Oct 08Ero Copper Corp. to Report Q3, 2025 Results on Nov 04, 2025Ero Copper Corp. announced that they will report Q3, 2025 results at 4:00 PM, US Eastern Standard Time on Nov 04, 2025
Price Target Changed • Oct 06Price target increased by 7.8% to CA$28.21Up from CA$26.16, the current price target is an average from 14 analysts. New target price is 6.7% below last closing price of CA$30.23. Stock is up 6.1% over the past year. The company is forecast to post earnings per share of US$2.91 next year compared to a net loss per share of US$0.66 last year.
ナラティブの更新 • Oct 04Mechanization Upgrades Will Support Sustainable Copper DemandThe analyst price target for Ero Copper has increased by approximately $2, now standing at $27.71. Analysts cite strengthened profit margins and favorable commodity market outlooks, despite mixed changes in individual ratings and targets.
Valuation Update With 7 Day Price Move • Sep 29Investor sentiment improves as stock rises 16%After last week's 16% share price gain to CA$27.79, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 8x in the Metals and Mining industry in Canada. Total returns to shareholders of 80% over the past three years.
分析記事 • Sep 25Ero Copper Corp. (TSE:ERO) Held Back By Insufficient Growth Even After Shares Climb 31%Ero Copper Corp. ( TSE:ERO ) shares have had a really impressive month, gaining 31% after a shaky period beforehand...
お知らせ • Sep 18Ero Copper Corp. Announces the Remaining Assay Results from Its 28,000-Meter Phase 1 Drill Program At the Furnas Copper-Gold ProjectEro Copper Corp. announced the remaining assay results from its 28,000-meter Phase 1 drill program at the Furnas Copper-Gold Project ("Furnas" or the "Project"), located in the Carajas Mineral Province in Para State, Brazil. Complete results from the Phase 1 program are highlighted by intercepts that continue to demonstrate high-grade continuity throughout the deposit as well as significantly extend the known limits of mineralization within the high-grade zones (greater than 1% CuEq1) to depth. New Phase 1 program drill results are highlighted by: FURN-DD-00322: 115 meters at 0.76% copper and 0.47 grams per tonne ("gpt") gold (0.98% CuEq1), including 46 meters at 0.81% copper and 0.56 gpt gold (1.11% CuEq1) and 28 meters at 0.91% copper and 0.71 gpt gold (1.25% CuEq1). Ero expects to complete the 17,000-meter Phase 2 drill program in early Fourth Quarter 2025, approximately three months ahead of schedule. The complete results from the Phase 1 drill program will serve as the foundation for an updated NI 43-101 compliant mineral resource estimate as well as a preliminary economic assessment ("PEA") of the Project. Using a 1.00% copper equivalent cut-off grade, the mineral resource estimate, effective June 30, 2024, totaled: Indicated Mineral Resource: 35.2 million tonnes grading 1.04% copper and 0.69 gpt gold (1.36% CuEq1), containing an estimated 364,700 tonnes of copper and 775,300 ounces of gold; Inferred Mineral Resource: 61.3 million tonnes grading 1.06% copper and 0.63 gpt gold (1. 36% CuEq1),containing an estimated 647,400 tonnes of copper and 1,235,600 ounces of gold. For additional information on the Project's mineral resource estimate, please see the Company's press release dated October 2, 2024 as well as the corresponding technical report titled "Furnas Copper Project - Para State, Brazil - NI 43-101 Mineral Resource Estimate Technical Report", dated November 18, 2024 with an effective date of June 30, 2024, prepared for the Company by Anderson Goncalves Candido, FAusIMM of RPMGlobal Canada Limited ("RPM"). All sample results from the Phase 1 drill programs have been monitored through a quality assurance and quality control ("QA/QC") program that includes adherence to the internal operational procedures and the insertion of certified standards, blanks and duplicates at a rate of three standards, one coarse blank, one fine blank, one field duplicate, one coarse duplicate, and one pulp duplicate for every 50 total samples, yielding a blended QC rate of approximately 16%.
Valuation Update With 7 Day Price Move • Sep 11Investor sentiment improves as stock rises 15%After last week's 15% share price gain to CA$23.40, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 8x in the Metals and Mining industry in Canada. Total returns to shareholders of 69% over the past three years.
Reported Earnings • Aug 01Second quarter 2025 earnings: EPS and revenues exceed analyst expectationsSecond quarter 2025 results: EPS: US$0.68 (up from US$0.52 loss in 2Q 2024). Revenue: US$163.5m (up 40% from 2Q 2024). Net income: US$70.5m (up US$123.8m from 2Q 2024). Profit margin: 43% (up from net loss in 2Q 2024). The move to profitability was primarily driven by lower expenses. Revenue exceeded analyst estimates by 3.7%. Earnings per share (EPS) also surpassed analyst estimates by 102%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Metals and Mining industry in Canada. Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings.
お知らせ • Aug 01Ero Copper Corp. Reaffirms Production Guidance for the Year 2025Ero Copper Corp. reaffirmed production guidance for the year 2025. The company is reaffirming full-year guidance at Caraíba, and updating guidance ranges at Tucumã and Xavantina to reflect H1 2025 performance. At the Caraíba Operations, programs launched in H1 2025 to enhance operating efficiency and cost control are delivering strong margin performance compared to full-year guidance. These ongoing initiatives include (i) focusing the Pilar Mine's fleet on the upper levels of the mine to reduce haul distances, (ii) implementing new technologies aimed at enhancing both safety and productivity, and (iii) improving fleet and mine infrastructure maintenance initiatives to increase mobile equipment availability and reduce unplanned downtime. While these efforts are expected to result in full-year copper production at the lower end of the 37,500 to 42,500 tonne guidance range, C1 cash costs are projected to fall within the lower half of the guidance range of $2.15 to $2.35 per pound. Sequential increases in mined and processed volumes are expected to contribute to higher copper production over the remainder of the year. At the Tucumã Operation, full-year copper production guidance has been updated to 30,000 to 37,500 tonnes at C1 cash costs of $1.10 to $1.30 per pound of copper produced to reflect lower-than-forecast tonnes processed in H1 2025. Updated full-year guidance reflects a significant expected increase in copper production during H2 2025, consistent with original 2025 guidance. At the Xavantina Operations, full-year production guidance has been updated to 40,000 to 50,000 ounces with C1 cash costs of $850 to $1,000 per ounce of gold produced and AISC of $1,800 to $2,000 per ounce to reflect lower-than- planned production in H1 2025. Ongoing investments in mine modernization and mechanization are expected to drive a step-change in mining rates in H2 2025, resulting in higher projected production and lower unit costs that align with the long-term outlook for the operation.
Major Estimate Revision • Jul 16Consensus EPS estimates fall by 17%The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from US$828.0m to US$799.1m. EPS estimate also fell from US$3.23 per share to US$2.68 per share. Net income forecast to grow 1,321% next year vs 33% growth forecast for Metals and Mining industry in Canada. Consensus price target down from CA$27.00 to CA$25.96. Share price was steady at CA$19.53 over the past week.
分析記事 • Jul 15Is Ero Copper (TSE:ERO) A Risky Investment?Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
お知らせ • Jul 10Ero Copper Corp. Announces the Completion of Its Phase 1 Drill Program At the Furnas Copper-Gold ProjectEro Copper Corp. announced the completion of its Phase 1 drill program at the Furnas Copper-Gold Project ("Furnas" or the "Project"), located in the Carajas Mineral Province in Para State, Brazil. Initial results from the completed 28,000-meter Phase 1 program are highlighted by significant down-dip intercepts, including: FURN-DD-00284: 105 meters at 1.17% copper and 0.77 grams per tonne ("gpt") gold (1.54% CuEq1), including 63 meters at 1.30% copper and 1.13 gpt gold (1.84% CuEq1), drilled in the Southeast zone at the limit of the previously defined indicated resource; and, FURN-DD-00271: 75 meters at 1.02% copper and 0.59 gpt gold (1.30% CuEq1"), including 30 meters at 1.71% copper and 1.05 gpt gold (2.21% CuEq1), and 15 meters at 2.30% copper and 1.,60 gpt gold (3.06% CuEq1), also drilled in the Southeast zone, approximately 70 meters down-dip from the previously known extent of mineralization. To date, assay results have been received for approximately 10,000 meters of the 28,000-meter drill program. The results continue to both demonstrate continuity and extend the known limits of mineralization within the high-grade mineralized zones (greater than 1% CuEq1) that are the focus of future underground mining operations. Complete results from the program will be released following receipt of all pending assay results. There are currently eight drill rigs operating on the Project, where the Phase 2 drill program is underway. This program is expected to comprise a minimum of 17,000 meters of drilling and includes a greater focus on step-out drilling aimed at further extending known mineralization. The complete results from the Phase 1 drill program will serve as the foundation for an updated NI 43-101 mineral resource estimate as well as a preliminary economic assessment ("PEA") of the Project. Using a 1.00% copper equivalent cut-off grade, the mineral resource estimate, effective June 30, 2024, totaled: Indicated Mineral Resource: 35.2 million tonnes grading 1.04% copper and 0.69 gpt gold (1.36% CuEq1), containing an estimated 364,700 tonnes of copper and 775,300 ounces of gold; Inferred Mineral Resource: 61.3 million tonnes grading 1.06% copper and 0.63 gpt gold (1. 36% CuEq1), consisting an estimated 647,400 tonnes of copper and 1,235,600 ounces of gold.
Valuation Update With 7 Day Price Move • Jul 09Investor sentiment deteriorates as stock falls 18%After last week's 18% share price decline to CA$19.51, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 7x in the Metals and Mining industry in Canada. Total returns to shareholders of 74% over the past three years.
New Risk • Jul 03New major risk - Revenue and earnings growthEarnings have declined by 20% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 20% per year over the past 5 years. Minor Risks High level of debt (78% net debt to equity). Profit margins are more than 30% lower than last year (3.9% net profit margin).
お知らせ • Jul 03Ero Copper Corp Achieves Commercial Production At Tucum OperationEro Copper Corp. announced that the Tucum Operation, located in Par State, Brazil, achieved commercial production, effective July 1, 2025. During the month of June, following the completion of commissioning of the third filter press as well as modifications to the process plant, the operation achieved sustained throughput levels exceeding 75% of design capacity. Copper production at Tucum totaled approximately 6,400 tonnes during the second quarter, including approximately 2,000 tonnes of copper produced during the second half of June. Metallurgical recovery rates and copper concentrate grades have continued to meet or exceed design targets. The Company expects plant throughput volumes to continue increasing through year-end, supporting sequential growth in copper production during the second half of the year.
お知らせ • Jun 25Ero Copper Corp. to Report Q2, 2025 Results on Jul 31, 2025Ero Copper Corp. announced that they will report Q2, 2025 results After-Market on Jul 31, 2025
分析記事 • May 07Ero Copper Corp. Just Recorded A 397% EPS Beat: Here's What Analysts Are Forecasting NextIt's been a pretty great week for Ero Copper Corp. ( TSE:ERO ) shareholders, with its shares surging 13% to CA$19.46 in...
Reported Earnings • May 07First quarter 2025 earnings releasedFirst quarter 2025 results: Net income: (up US$7.14m from 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 98 percentage points per year, which is a significant difference in performance.
お知らせ • May 06Ero Copper Corp. Reaffirms Consolidated Production Guidance for the Year 2025Ero Copper Corp. reaffirmed consolidated production guidance for the year 2025. Consolidated copper production for 2025 is expected to increase sequentially each quarter, with full-year production projected to range between 75,000 and 85,000 tonnes. At the Tucumã Operation, production is anticipated to increase sequentially throughout the year, with higher mill throughput volumes expected to offset a gradual decline in processed copper grades. At the Caraíba Operations, the Company achieved targeted mining rates at the Pilar Mine in March 2025 and completed the mobilization of a second underground development contractor during the quarter. As a result, higher mined and processed tonnage is expected to be sustained for the remainder of the year. At the Xavantina Operations, the Company is also reaffirming production guidance of 50,000 to 60,000 ounces with higher processed tonnage and improved gold grades projected to support increased gold production and lower unit operating costs through the balance of the year.
分析記事 • May 04Revenues Not Telling The Story For Ero Copper Corp. (TSE:ERO) After Shares Rise 25%Those holding Ero Copper Corp. ( TSE:ERO ) shares would be relieved that the share price has rebounded 25% in the last...
分析記事 • Apr 15Is Ero Copper (TSE:ERO) Using Too Much Debt?The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...
お知らせ • Apr 02Ero Copper Corp. to Report Q1, 2025 Results on May 05, 2025Ero Copper Corp. announced that they will report Q1, 2025 results After-Market on May 05, 2025
Reported Earnings • Mar 07Full year 2024 earnings: EPS and revenues miss analyst expectationsFull year 2024 results: US$0.66 loss per share (down from US$0.99 profit in FY 2023). Revenue: US$470.3m (up 10.0% from FY 2023). Net loss: US$68.5m (down 174% from profit in FY 2023). Production and reserves: Copper Production: 40,600 t (43,857 t in FY 2023) Proved and probable reserves (ore): 82.77 Mt (122 Mt in FY 2023) Number of mines: 2 (2 in FY 2023) Gold Production: 57.21 troy koz (59.222 troy koz in FY 2023) Number of mines: 1 (1 in FY 2023) Silver Production: 33.927 troy koz (37.674 troy koz in FY 2023) Number of mines: 1 (1 in FY 2023) Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Metals and Mining industry in Canada. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance.
分析記事 • Mar 03Ero Copper Corp.'s (TSE:ERO) Price Is Out Of Tune With RevenuesWith a median price-to-sales (or "P/S") ratio of close to 3x in the Metals and Mining industry in Canada, you could be...
新しいナラティブ • Feb 23Advancements At Tucumã And Caraíba Will Strengthen Future Copper Output Completion of the Tucumã operation and Furnas Copper-Gold exploration could drive future revenue growth as production and exploration progress.
分析記事 • Feb 15What Does The Future Hold For Ero Copper Corp. (TSE:ERO)? These Analysts Have Been Cutting Their EstimatesToday is shaping up negative for Ero Copper Corp. ( TSE:ERO ) shareholders, with the analysts delivering a substantial...
Major Estimate Revision • Feb 14Consensus revenue estimates decrease by 11%The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from US$536.7m to US$477.9m. EPS estimate unchanged from US$0.026 per share at last update. Metals and Mining industry in Canada expected to see average net income growth of 22% next year. Consensus price target down from CA$30.27 to CA$27.59. Share price rose 7.4% to CA$20.50 over the past week.
Price Target Changed • Feb 12Price target decreased by 7.3% to CA$28.27Down from CA$30.50, the current price target is an average from 11 analysts. New target price is 50% above last closing price of CA$18.82. Stock is down 3.6% over the past year. The company is forecast to post earnings per share of US$0.026 for next year compared to US$0.99 last year.
お知らせ • Feb 12Ero Copper Corp. Provides Consolidated Production Guidance for the Fiscal Year 2025, 2026 and 2027Ero Copper Corp. provided consolidated production guidance for the fiscal year 2025, 2026 and 2027. For the year 2025, consolidated copper production is expected to increase by approximately 85% to 110% year-on-year to a range of 75,000 and 85,000 tonnes at consolidated C1 cash costs between $1.55 and $1.80 per pound of copper produced with the Tucumã Operation expected to achieve commercial production in first half of 2025. The Xavantina Operations are expected to produce 50,000 to 60,000 ounces of gold at C1 cash costs between $650 and $800 per ounce of gold produced and all-in sustaining costs ("AISC") between $1,400 and $1,600 per ounce of gold produced. Consolidated copper production across the company's operations is expected to reach between 85,000 and 95,000 tonnes in concentrate in 2026 and 2027. The Xavantina Operations are expected to sustain annual gold production levels of 50,000 to 60,000 ounces through 2027.
お知らせ • Feb 11Ero Copper Corp., Annual General Meeting, Apr 24, 2025Ero Copper Corp., Annual General Meeting, Apr 24, 2025. Location: british columbia., vancouver Canada
Major Estimate Revision • Feb 07Consensus EPS estimates fall by 62%The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from US$0.372 to US$0.14. Revenue forecast unchanged from US$522.7m at last update. Net income forecast to grow 1,273% next year vs 29% growth forecast for Metals and Mining industry in Canada. Consensus price target broadly unchanged at CA$29.91. Share price was steady at CA$19.08 over the past week.
お知らせ • Feb 06Ero Copper Corp. to Report Q4, 2024 Results on Mar 06, 2025Ero Copper Corp. announced that they will report Q4, 2024 results After-Market on Mar 06, 2025
Major Estimate Revision • Jan 24Consensus EPS estimates increase by 42%The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from US$530.3m to US$538.2m. EPS estimate increased from US$0.415 to US$0.589 per share. Net income forecast to grow 1,826% next year vs 29% growth forecast for Metals and Mining industry in Canada. Consensus price target of CA$31.05 unchanged from last update. Share price was steady at CA$20.36 over the past week.
Major Estimate Revision • Jan 17Consensus EPS estimates increase by 15%The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from US$0.411 to US$0.474. Revenue forecast steady at US$531.6m. Net income forecast to grow 1,688% next year vs 32% growth forecast for Metals and Mining industry in Canada. Consensus price target of CA$31.05 unchanged from last update. Share price was steady at CA$20.47 over the past week.
お知らせ • Dec 04Ero Copper Corp. Announces Updated Mineral Reserve and Resource Estimates for the Xavantina OperationsEro Copper Corp. announced an update of its National Instrument 43-101 compliant mineral reserve and resource estimates for its Xavantina Operations, located in Mato Grosso State, Brazil. The company dual strategy remains focused on extending mine life and discovering new vein structures to expand mine and mill feed, enabling the company to fully utilize the mill's installed capacity of up to 300,000 tonnes per annum. The company's dual strategy remains focused on extending Mine life and discovering new vein structures To expand mine and mill feed, allowing company to fully utilize the Mill's installed capacity of up to300,000 tonnes per annum." The company's Notes on Mineral Reserves and Mineral Resources section of this press release for a discussion on the assumptions, parameters and methods used to estimate the mineral reserves for 2024. The 2024 mineral reserve and mineral resource estimates are effective as at June 30, 2024. Mineral resources are presented, including mineral reserves. All figures have been rounded to the relative accuracy of the estimates. Summed amounts may not add due to rounding. Mineral resources that are not mineral reserves do not have a demonstrated economic viability. The 2024 mineral reserve and resource estimates for the Xavantina Operations are prepared under the supervision of and verified by Mr. Cid Gonçalves Monteiro Filho, SME RM (04317974), MAIG (No. 8444), FAusIMM (No. 329148) and Resource Manager of the Company who is a “qualified person” within the meanings of NI 43-101. Reference herein of $or USD is to United States dollars and BRL is to Brazilian reais. Mineral Reserves for the Xavantina Operations have been estimated using a gold price of $1,900/oz, and the exchange rate used for mineral reserve and resource estimates was USD/BRL 5.10. Grade shells using a value of 1.20 gpt gold were used to generate a 3D mineralization model of the Xavantina Operations. Within the grade shells, mineral resources were estimated using ordinary kriging within 10 meter by 10 meter by 2 meter block size, with a minimum sub- block size of 1.0 meter by 1.0 meter by 0.5 meter, and the mineral resource estimate was constrained using a minimum stope dimension of 2.0 meters by 2.0 meters by 1.5 meters, a cut-off of 1.20 gpt based on underground mining and processing costs of US$72 per tonne and a gold price of US$1,900 per ounce. The 2024 mineral reserve estimates were prepared in accordance with the CIM Standards and the CIM Guidelines, using geostatistical and/or classical methods, plus economic and mining parameters appropriate for the deposit. Mineral reserves are the economic portion of the measured and indicated mineral resources. Mineral reserve estimates include operational dilution of 17.4% plus planned dilution of approximately 8.5% within each stope for room- and-pillar mining areas and operational dilution of 3.2% plus planned dilution of 21.2% for cut-and-fill mining areas. Mining recovery of 92.5% and 94.7% assumed for room-and-pillar and cut-and-fill areas, respectively. Practical mining shapes (wireframes) were designed using geological wireframes /mineral resource block models as a guide.
お知らせ • Nov 06+ 2 more updatesEro Copper Corp. Announces CEO Changes, Effective January 1, 2025Ero Copper Corp. announced the next phase of its leadership succession plan, effective January 1, 2025. David Strang, co-founder and current Chief Executive Officer will assume the role of Executive Chairman, and Makko DeFilippo, President and Chief Operating Officer, will be appointed as Chief Executive Officer. Mr. DeFilippo joined Ero in January 2017 as Vice President, Corporate Development, where he played a key role in supporting the Company through its initial public offering in October 2017. He was promoted to President in January 2021 and assumed the additional role of Chief Operating Officer in March 2023. Over his tenure, Mr. DeFilippo has been instrumental in elevating several strategic initiatives, including the transformation of the Xavantina Operations from a non-core asset into a high-margin, core asset of the Company. He led the successful negotiation and completion of the $110 million streaming transaction with Royal Gold Inc. and was key in establishing the Company’s partnership with Vale Base Metals on the Furnas Copper-Gold Project earn-in agreement, announced in July 2024. Additionally, Mr. DeFilippo guided the construction of the Tucumã Operation, which was successfully completed on schedule earlier this year. Mr. DeFilippo holds a M.Sc. in Metallurgical Engineering from the Colorado School of Mines and a B.Sc. in Geological Engineering from the University of Arizona.
お知らせ • Oct 17Ero Copper Confirms Full Power Restoration At the Tucumã OperationEro Copper Corp. confirmed that full power has been restored at its Tucumã Operation following a temporary disruption caused by a severe localized windstorm in the southwest region of the Carajás Mineral Province in Pará State, Brazil on October 5, 2024. With power now restored, the Company has safely resumed the ramp-up of milling, flotation, and filtration circuits within the processing plant.
お知らせ • Oct 08Ero Copper Corp. to Report Q3, 2024 Results on Nov 05, 2024Ero Copper Corp. announced that they will report Q3, 2024 results After-Market on Nov 05, 2024
お知らせ • Aug 03Ero Copper Corp. Provides Production Guidance for the Year 2024Ero Copper Corp. provided production guidance for the year 2024. The Company is reaffirming its consolidated copper production guidance of 59,000 to 72,000 tonnes in concentrate, with production expected to be weighted towards H2 2024 largely due to the projected ramp-up of production at the Tucumã Project. Contributions from the Tucumã Project, combined with significantly lower concentrate treatment and refining charges, as well as a more favorable USD to BRL exchange rate, are expected to result in lower consolidated copper C1 cash costs in H2 2024 compared to H1 2024. As a result, the Company is reaffirming its full-year consolidated copper C1 cash cost guidance range of $1.50 to $1.75 per pound of copper produced. The Company is reaffirming its increased full-year gold production guidance range of 60,000 to 65,000 ounces. While slightly lower production is projected to result in higher unit costs in H2 2024 compared to H1 2024, the Company is lowering its 2024 gold cost guidance to reflect exceptional year-to-date unit cost performance. Full-year gold C1 cash cost guidance is now $450 to $550 (originally $550 to $650) per ounce of gold produced, and AISC guidance has been reduced to $900 to $1,000 (from $1,050 to $1,150) per ounce of gold produced. The Company's cost guidance for 2024 assumes a foreign exchange rate of 5.00 BRL per USD, a gold price of $1,900 per ounce and a silver price of $23.00 per ounce.
お知らせ • Jul 31Ero Copper Corp. Announces Temporary Suspension of Operations At CaraíbaEro Copper Corp. announced that the tragic loss of a member of its team, who succumbed to injuries sustained in a light-duty truck accident at the Caraíba Operations. A second team member is in critical condition. Details surrounding the incident, which occurred in a non-operational area on surface, are still under investigation. In response to this tragedy, the Company immediately activated its emergency response and safety protocols which included suspending operations, notifying the relevant government authorities, and undertaking a full investigation. Operations at Caraíba are expected to resume tomorrow.
分析記事 • Jul 17Returns On Capital Signal Tricky Times Ahead For Ero Copper (TSE:ERO)If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Typically, we'll...
お知らせ • Jul 09Ero Copper Corp. to Report Q2, 2024 Results on Aug 01, 2024Ero Copper Corp. announced that they will report Q2, 2024 results After-Market on Aug 01, 2024
分析記事 • Jun 28Is Ero Copper (TSE:ERO) Using Too Much Debt?Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Recent Insider Transactions • Jun 23Independent Director recently sold CA$281k worth of stockOn the 21st of June, Lyle Braaten sold around 10k shares on-market at roughly CA$28.11 per share. This transaction amounted to 3.2% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth CA$641k. Insiders have been net sellers, collectively disposing of CA$661k more than they bought in the last 12 months.
お知らせ • Jun 14Ero Copper Corp. Receives Operational License for Tucumã Project, Commissioning on Track for First Copper Production Early Third Quarter of 2024Ero Copper Corp. announced that it has received the Operational License for the Tucumã Project - the last remaining permitting milestone for commercial operation. With physical completion at approximately 99%, commissioning well advanced, and over 90% of the operational staff hired and trained, first concentrate continues to be expected early in the third quarter of 2024. The total direct capital cost estimate for Project completion remains unchanged at approximately $310 million. Highlights: Permitting: Project awarded Operational License by the Pará State environmental agency, Secretaria de Estado de Meio Ambiente e Sustentabilidade (SEMAS) Construction: Physical construction of the Project has reached approximately 99% completion. All mechanical equipment and electrical installations complete, ball mill successfully handed over to operations Pre-stripping activities completed ahead of schedule, and full mining operations have commenced. To date, approximately 110,000 tonnes of ore have been placed on the run-of-mine stockpile with an additional 55,000 tonnes of ore drilled and ready to be blasted in the mine. Process control room, on-site process laboratory, and administrative offices complete. Remaining piping, electric cabling and instrumentation installations on track to complete construction by the end of Second Quarter 2024. Commissioning Plan: Commissioning activities continue to progress on site. First ore through primary and secondary crushers as well as screening and conveyance systems completed with approximately 10,000 tonnes of ore placed on the crushed ore stockpile to date. Mechanical completion and sub-component commissioning (lubrication, hydraulic, electrical, instrumentation and automation systems) completed. First charge through the milling circuit completed, flotation and filtration commissioning nearing completion - Project remains on track to achieve first production and initiate Project ramp-up in early Third Quarter 2024. People & Safety: To date, there have been no lost-time injuries on the Project, with over six million hours of work completed since 2022: Additionally, all site-based management positions have been filled and over 90% of the operational staff required for full-scale operations have been hired and fully trained. Project Capital Estimate: Direct Project capital expenditure for completion remains unchanged at approximately $310 Million.
Valuation Update With 7 Day Price Move • Jun 04Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to CA$26.08, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 5x in the Metals and Mining industry in Canada. Total loss to shareholders of 5.8% over the past three years.
分析記事 • May 28Ero Copper Corp.'s (TSE:ERO) Popularity With Investors Is ClearEro Copper Corp.'s ( TSE:ERO ) price-to-earnings (or "P/E") ratio of 38.7x might make it look like a strong sell right...
Recent Insider Transactions Derivative • May 15Independent Director exercised options to buy CA$536k worth of stock.On the 10th of May, Chantal Gosselin exercised 20.00k options to receive shares at no cost, then sold around 2.03k of them at CA$21.09 each and kept the remainder. Since December 2023, Chantal has owned 10.17k shares directly. Company insiders have collectively bought CA$2.5m more than they sold, via options and on-market transactions, in the last 12 months.
Recent Insider Transactions • May 13Independent Director recently sold CA$641k worth of stockOn the 10th of May, Lyle Braaten sold around 21k shares on-market at roughly CA$30.20 per share. This transaction amounted to 6.2% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of CA$732k more than they bought in the last 12 months.
お知らせ • May 09Ero Copper Corp. Updates Production Guidance for the Year 2024Ero Copper Corp. updated production guidance for the year 2024. For the year, the company is increasing its 2024 gold production guidance from 55,000 to 60,000 ounces to a range of 60,000 to 65,000 ounces. The Company expects mined and processed gold grades to remain above plan through the remainder of H1 2024, as positive grade reconciliations have continued into Second Quarter 2024. While this trend may continue beyond Second Quarter 2024, the Company is projecting a reversion to long-term block model grades for planned mining areas in H2 2024. As a result of higher full-year production expectations, the Company is guiding towards the low end of its full-year cost guidance for the Xavantina Operations. Consolidated copper production of 59,000 to 72,000 tonnes in concentrate is expected to be weighted towards H2 2024, largely due to the anticipated commencement of production at the Tucumã Project in early Third Quarter 2024. Consequently, consolidated copper C1 cash costs are projected to be lower in H2 2024 versus H1 2024.
Reported Earnings • May 08First quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behindFirst quarter 2024 results: US$0.069 loss per share (down from US$0.26 profit in 1Q 2023). Revenue: US$105.8m (up 4.8% from 1Q 2023). Net loss: US$7.14m (down 130% from profit in 1Q 2023). Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Metals and Mining industry in Canada. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.
Price Target Changed • Apr 23Price target increased by 7.8% to CA$29.81Up from CA$27.66, the current price target is an average from 12 analysts. New target price is 13% above last closing price of CA$26.27. Stock is up 1.5% over the past year. The company is forecast to post earnings per share of US$1.33 for next year compared to US$0.99 last year.
