Ero Copper（ERO）株式概要エロ・カッパー社はブラジルで鉱業プロジェクトの探査、開発、生産に従事している。 詳細ERO ファンダメンタル分析スノーフレーク・スコア評価3/6将来の成長2/6過去の実績5/6財務の健全性4/6配当金0/6報酬株価収益率（ 10.9 x） US市場（ 18.7 x）を下回っています。収益は年間4.72%増加すると予測されています 過去1年間で収益は1447%増加しました 同業他社や業界と比較して、良好な取引価格 リスク分析多額の負債を抱えている すべてのリスクチェックを見るERO Community Fair Values Create NarrativeSee what 26 others think this stock is worth. Follow their fair value or set your own to get alerts.Your Fair ValueUS$Current PriceUS$29.8618.5% 割高 内在価値ディスカウントGrowth estimate overAnnual revenue growth rate5 Yearstime period%/yrDecreaseIncreasePastFuture-2m1b2016201920222025202620282031Revenue US$1.2bEarnings US$387.7mAdvancedSet Fair ValueView all narrativesEro Copper Corp. 競合他社Freeport-McMoRanSymbol: NYSE:FCXMarket cap: US$94.7bDRDGOLDSymbol: NYSE:DRDMarket cap: US$2.3bKaiser AluminumSymbol: NasdaqGS:KALUMarket cap: US$3.0bSouthern CopperSymbol: NYSE:SCCOMarket cap: US$162.6b価格と性能株価の高値、安値、推移の概要Ero Copper過去の株価現在の株価CA$30.4452週高値CA$39.8052週安値CA$12.79ベータ1.561ヶ月の変化17.30%3ヶ月変化-10.94%1年変化115.73%3年間の変化71.59%5年間の変化32.35%IPOからの変化683.26%最新ニュースSeeking Alpha • May 16Ero Copper: I'm Not Crazy Enough To Say 'Free Lunch,' But This Situation Comes CloseSummary I covered mining stocks many years ago, when I didn’t have enough seniority to switch to something less hair-raising. Price volatility. Operational risks. Yuk. Phooey! It’s now time for me to grow the heck up. How can anyone miss the impact our digital revolution (AI and more) is having on demand for key metals! Having already dipped my toes into the rare earths (MP and USAR), I look now at Brazilian Ero Copper. Brazil has lots of copper (and some gold for added spice). Volume is rising due to ERO’s having addressed some operating snags at one longtime mine and a new mine flexing its volume muscles. Prices have been good but volatile. But…. Copper’s long-term prospects are amazing. Demand is going to boom, and supply will struggle to keep apace. Volatility won’t vanish, but for a 3- to 5-year horizon, ERO is a solid “Buy.”. Read the full article on Seeking AlphaRecent Insider Transactions • May 14Independent Director recently sold US$305k worth of stockOn the 12th of May, Lyle Braaten sold around 10k shares on-market at roughly US$30.46 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 US$4.1m more than they bought in the last 12 months.Valuation Update With 7 Day Price Move • May 11Investor sentiment improves as stock rises 16%After last week's 16% share price gain to US$28.48, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 11x in the Metals and Mining industry in the US. Total returns to shareholders of 55% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$21.52 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 86%. Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Metals and Mining industry in the US. 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 13% 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 US$25.82. The fair value is estimated to be US$21.51, 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.最新情報をもっと見るRecent updatesSeeking Alpha • May 16Ero Copper: I'm Not Crazy Enough To Say 'Free Lunch,' But This Situation Comes CloseSummary I covered mining stocks many years ago, when I didn’t have enough seniority to switch to something less hair-raising. Price volatility. Operational risks. Yuk. Phooey! It’s now time for me to grow the heck up. How can anyone miss the impact our digital revolution (AI and more) is having on demand for key metals! Having already dipped my toes into the rare earths (MP and USAR), I look now at Brazilian Ero Copper. Brazil has lots of copper (and some gold for added spice). Volume is rising due to ERO’s having addressed some operating snags at one longtime mine and a new mine flexing its volume muscles. Prices have been good but volatile. But…. Copper’s long-term prospects are amazing. Demand is going to boom, and supply will struggle to keep apace. Volatility won’t vanish, but for a 3- to 5-year horizon, ERO is a solid “Buy.”. Read the full article on Seeking AlphaRecent Insider Transactions • May 14Independent Director recently sold US$305k worth of stockOn the 12th of May, Lyle Braaten sold around 10k shares on-market at roughly US$30.46 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 US$4.1m more than they bought in the last 12 months.Valuation Update With 7 Day Price Move • May 11Investor sentiment improves as stock rises 16%After last week's 16% share price gain to US$28.48, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 11x in the Metals and Mining industry in the US. Total returns to shareholders of 55% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$21.52 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 86%. Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Metals and Mining industry in the US. 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 13% 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 US$25.82. The fair value is estimated to be US$21.51, 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.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 13%. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Metals and Mining industry in the US. Over the last 3 years on average, earnings per share has increased by 18% per year and the company’s share price has also increased by 18% 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 US$34.42, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 13x in the Metals and Mining industry in the US. Total returns to shareholders of 101% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$53.67 per share.Price Target Changed • Feb 25Price target increased by 10% to US$36.00Up from US$32.67, the current price target is an average from 15 analysts. New target price is approximately in line with last closing price of US$34.37. Stock is up 168% over the past year. The company is forecast to post earnings per share of US$2.90 next year compared to a net loss per share of US$0.66 last year.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.Price Target Changed • Feb 08Price target increased by 7.1% to US$35.51Up from US$33.17, the current price target is an average from 16 analysts. New target price is 16% above last closing price of US$30.61. Stock is up 129% over the past year. The company is forecast to post earnings per share of US$2.90 next year compared to a net loss per share of US$0.66 last year.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.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, 2026Buy Or Sell Opportunity • Jan 30Now 29% undervaluedOver the last 90 days, the stock has risen 57% to US$33.51. The fair value is estimated to be US$47.22, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.4% over the last 3 years. Earnings per share has declined by 26%. For the next 3 years, revenue is forecast to grow by 8.9% per annum. Earnings are also forecast to grow by 11% per annum over the same time period.Valuation Update With 7 Day Price Move • Jan 28Investor sentiment improves as stock rises 16%After last week's 16% share price gain to US$36.10, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 14x in the Metals and Mining industry in the US. Total returns to shareholders of 115% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$47.76 per share.Recent Insider Transactions • Jan 27Independent Director recently sold US$978k worth of stockOn the 23rd of January, Robert Hinman Getz sold around 30k shares on-market at roughly US$32.61 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 US$1.0m. Insiders have been net sellers, collectively disposing of US$3.2m 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.Price Target Changed • Jan 13Price target increased by 9.3% to US$33.17Up from US$30.33, the current price target is an average from 15 analysts. New target price is 11% above last closing price of US$29.83. Stock is up 114% 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.Recent Insider Transactions • Jan 06Independent Lead Director recently sold US$1.0m worth of stockOn the 5th of January, John Wright sold around 35k shares on-market at roughly US$29.88 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 US$1.9m more than they bought in the last 12 months.Recent Insider Transactions • Nov 30Independent Director recently sold US$924k worth of stockOn the 28th of November, Lyle Braaten sold around 37k shares on-market at roughly US$25.21 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 US$733k more than they bought in the last 12 months.Valuation Update With 7 Day Price Move • Nov 28Investor sentiment improves as stock rises 17%After last week's 17% share price gain to US$25.37, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 12x in the Metals and Mining industry in the US. Total returns to shareholders of 94% over the past three years.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 21%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Metals and Mining industry in the US. 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 18% 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.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, 2025Valuation Update With 7 Day Price Move • Sep 29Investor sentiment improves as stock rises 15%After last week's 15% share price gain to US$19.97, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 14x in the Metals and Mining industry in the US. Total returns to shareholders of 77% over the past three years.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 US$16.93, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 14x in the Metals and Mining industry in the US. Total returns to shareholders of 62% over the past three years.Price Target Changed • Sep 10Price target increased by 7.1% to US$18.75Up from US$17.50, the current price target is an average from 14 analysts. New target price is 19% above last closing price of US$15.75. Stock is down 16% over the past year. The company is forecast to post earnings per share of US$2.75 next year compared to a net loss per share of US$0.66 last year.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 100%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Metals and Mining industry in the US. 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 12% 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.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 US$14.28, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 13x in the Metals and Mining industry in the US. Total returns to shareholders of 65% 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.Price Target Changed • Jun 25Price target increased by 21% to US$18.50Up from US$15.25, the current price target is an average from 13 analysts. New target price is 17% above last closing price of US$15.83. Stock is down 28% over the past year. The company is forecast to post earnings per share of US$2.99 next year compared to a net loss per share of US$0.66 last 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, 2025Price Target Changed • Jun 04Price target increased by 18% to US$18.00Up from US$15.25, the current price target is an average from 13 analysts. New target price is 13% above last closing price of US$15.90. Stock is down 19% over the past year. The company is forecast to post earnings per share of US$3.02 next year compared to a net loss per share of US$0.66 last year.Reported Earnings • May 06First 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 96 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.Seeking Alpha • Apr 27Ero Copper: 2025 Could Be A Record Year For ProfitabilitySummary Ero Copper Corp. receives a "Buy" rating due to rising profitability, driven by strong metal prices and solid production from its Brazilian mines. Ero Copper seems undervalued and represents an attractive entry point given its growth potential, fantastic opportunities to improve financial metrics, and shares are 24% lower than previous analysis. The company is set for transformational growth in 2025, with significant increases in copper production and cash flow from operations, particularly from the Tucumã mine. Ero Copper's improved profitability and operational flexibility, alongside favorable market conditions for copper and gold, make its NYSE-listed shares a compelling investment. Read the full article on Seeking AlphaPrice Target Changed • Apr 07Price target decreased by 19% to US$15.00Down from US$18.50, the current price target is an average from 12 analysts. New target price is 49% above last closing price of US$10.09. Stock is down 52% over the past year. The company is forecast to post earnings per share of US$2.20 next year compared to a net loss per share of US$0.66 last year.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 4.7% growth forecast for the Metals and Mining industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance.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, 2025Seeking Alpha • Feb 03ERO Copper: Undervalued Growth Play As Copper Production Set To DoubleSummary ERO Copper is undervalued with a 54% upside potential, driven by rising copper and gold prices, and production set to double in 2025. The new Tucumã mine will significantly boost copper output, complementing the existing Caraíba and Xavantina mines, enhancing overall production and revenue. Despite operating in Brazil, a non-Tier one mining jurisdiction, ERO Copper's growth prospects and low valuation compared to peers make it a compelling buy. Risks include commodity price volatility, operational disruptions, and jurisdictional uncertainties, but the long-term outlook for copper and gold remains bullish. Read the full article on Seeking AlphaPrice Target Changed • Jan 16Price target decreased by 22% to US$21.00Down from US$27.00, the current price target is an average from 12 analysts. New target price is 51% above last closing price of US$13.90. Stock is down 7.8% over the past year. The company is forecast to post earnings per share of US$0.42 for next year compared to US$0.99 last year.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.Seeking Alpha • Nov 16Ero Copper: Attractive Price With Amazing Prospects For Copper And GoldSummary Ero Copper Corp. upgraded to "Buy" due to promising copper and gold production prospects in Brazil and global market prices, despite short-term "Trump Trade" impacts. Copper demand is set to surge due to global electrification and AI data centers, positioning Ero Copper for significant future growth. Ero Copper's profitability is improving, driven by lower costs and higher metal prices, making current oversold share levels an attractive entry point. Bullish sentiment on gold due to the Fed's rate cut is being bolstered by investors flocking to the metal as a portfolio hedge. Investors should consider buying Ero Copper shares now, anticipating a strong rebound with expected interest rate cuts and favorable metals market conditions. Read the full article on Seeking Alpha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.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 18%After last week's 18% share price decline to US$19.06, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 11x in the Metals and Mining industry in the US. Total loss to shareholders of 17% over the past three years.Recent Insider Transactions • May 13Independent Director recently sold US$469k worth of stockOn the 10th of May, Lyle Braaten sold around 21k shares on-market at roughly US$22.11 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 US$541k 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 released: US$0.069 loss per share (vs US$0.26 profit in 1Q 2023)First 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 is forecast to grow 23% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Metals and Mining industry in the US. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings.お知らせ • Apr 12Ero Copper Corp. to Report Q1, 2024 Results on May 07, 2024Ero Copper Corp. announced that they will report Q1, 2024 results After-Market on May 07, 2024Valuation Update With 7 Day Price Move • Mar 15Investor sentiment improves as stock rises 15%After last week's 15% share price gain to US$19.05, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 13x in the Metals and Mining industry in the US. Total returns to shareholders of 2.3% over the past three years.お知らせ • Mar 09Ero Copper Corp. Provides Production Guidance for the Year 2024Ero Copper Corp. provided production guidance for the year 2024. The company's 2024 production guidance reflects the ongoing execution of its organic growth strategy, including the successful completion of the Xavantina Operations' NX60 initiative as well as the anticipated completion of the Tucumã Project, which remains on track to commence production in H2 2024. As a result, the Company expects to deliver consolidated copper production of 59,000 to 72,000 tonnes in concentrate and gold production of 55,000 to 60,000 ounces. The Company's 2024 copper C1 cash cost guidance on a consolidated basis is $1.50 to $1.75. This range incorporates several key updates relative to previous 2024 C1 cash cost projections, including a revised copper C1 cash cost calculation methodology, as detailed in the Company's dated February 21, 2024. At the Xavantina Operations, the gold C1 cash cost guidance range of $550 to $650 reflects improved fixed cost efficiencies driven by higher expected gold production, partially offsetting the impact of planned decreases to mined and processed gold grades. The gold AISC guidance range for 2024 is $1,050 to $1,150. The Company's updated 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.Reported Earnings • Mar 08Full year 2023 earnings released: EPS: US$0.99 (vs US$1.12 in FY 2022)Full year 2023 results: EPS: US$0.99 (down from US$1.12 in FY 2022). Revenue: US$427.5m (flat on FY 2022). Net income: US$92.8m (down 8.9% from FY 2022). Profit margin: 22% (down from 24% in FY 2022). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Metals and Mining industry in the US. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings.お知らせ • Feb 21Ero Copper Corp. Provides Production Guidance for Fiscal Year 2024 and Fiscal Year 2025Ero Copper Corp. provided production guidance for the fiscal year 2024 and 2025. For the year 2024, the company expects Consolidated copper production is expected to be 59,000 tonnes to 72,000 tonnes in concentrate at C1 cash costs between $1.50 to $1.75 per pound of copper produced.For the year 2025, the company expects consolidated copper production is projected to more than double to 95,000 tonnes to 105,000 tonnes in 2025.お知らせ • Feb 10Ero Copper Corp., Annual General Meeting, Apr 24, 2024Ero Copper Corp., Annual General Meeting, Apr 24, 2024.お知らせ • Feb 06Ero Copper Corp. to Report Q4, 2023 Results on Mar 07, 2024Ero Copper Corp. announced that they will report Q4, 2023 results After-Market on Mar 07, 2024Seeking Alpha • Feb 03Ero Copper: Wait For Better Entries In This Growing Player (Rating Downgrade)Summary Ero Copper Corp. receives a "Hold" rating, downgraded from "Buy," due to current unattractive stock patterns. The company's growth prospects in the copper and gold mining sectors are positive, but the market value of shares is not the most favorable one. Ero Copper's performance has outperformed competitors and the materials sector in the long run, making it a very interesting investment option. Read the full article on Seeking Alphaお知らせ • Jan 18Ero Copper Corp. Provides Construction Update for the Tucum ProjectEro Copper Corp. provided a construction update for the Tucum Project (the "Project"), highlighting significant progress since October 2023. With physical completion now at over 85% and production of copper concentrate scheduled to commence in second quarter 2024, the Company has initiated the transition from construction to commissioning, as outlined below in the 2024 Commissioning Plan. Construction: Physical construction of the Project is now over 85% complete. Main substation and e-houses installed and commissioned with 16-kilometer power line tie-in to the national grid completed ahead of schedule; line expected to be fully energized by the 20th of January. Pre-stripping activities are tracking approximately 10% ahead of schedule with completion now expected at the end of first quarter 2024. Construction activities through the remainder of First Quarter 2024 will focus on completing piping, electric cabling, automation and instrumentation system installations. 2024 Commissioning Plan: Expected commissioning milestones in advance of first concentrate production in second quarter 2024, include: End of First Quarter 2024: mechanical completion and sub-component commissioning (lubrication, hydraulic, electrical, instrumentation and automation systems). March 2024: First ore through the crushing circuit comprised of primary and secondary crushers as well as screening and conveyance systems. April 2024: First ore through the milling circuit, May 2024: First ore through regrind mill circuit, concentrate and tailings filtering systems. June 2024: Integrated commissioning with flotation circuit and Project ramp-up. People & Safety: Opportunistic increase in construction workforce mobilization. Recent demobilization of a Brazilian mining project has allowed the Company to add approximately 500 trained contractors on site, increasing the total workforce of employees and contractors to approximately 2,220 people. To date, there have been no lost-time injuries on the Project, with over three million hours of work completed since 2022. Project Capital Estimate: Remaining construction expenditures hedged through expanded foreign exchange hedge program. Direct Project capital expenditures have been updated to approximately $310 million (compared to the previous estimate of $305 million) to reflect the impact of a stronger Brazilian Real ("BRL") against the U.S. dollar ("USD") in fourth quarter 2023, which was partially offset by reduced stripping costs. Following the opportunistic expansion of the Company's foreign exchange hedge program in late 2023, the Project's remaining construction expenditures are hedged at a weighted average floor and ceiling of 5.10 and 5.23 BRL per USD, respectively.Recent Insider Transactions • Nov 19Director recently bought US$247k worth of stockOn the 14th of November, Faheem Tejani bought around 20k shares on-market at roughly US$12.35 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold US$73k more in shares than they bought in the last 12 months.お知らせ • Nov 15Ero Copper Corp. has completed a Follow-on Equity Offering in the amount of $105.0985 million.Ero Copper Corp. has completed a Follow-on Equity Offering in the amount of $105.0985 million. Security Name: Common Shares Security Type: Common Stock Securities Offered: 8,510,000 Price\Range: $12.35 Discount Per Security: $0.6175Seeking Alpha • Nov 11Ero Copper: The Returns Could Be Staggering If Gold Soars (Rating Upgrade)Summary Ero Copper Corp. receives a "Buy" rating which is an upgrade from the previous "Hold" rating. The company is well-positioned for future growth in copper and gold markets. The stock is currently trading at a cheap price compared to its growth opportunities. Read the full article on Seeking Alphaお知らせ • Nov 08Ero Copper Corp. has filed a Follow-on Equity Offering in the amount of $105.0985 million.Ero Copper Corp. has filed a Follow-on Equity Offering in the amount of $105.0985 million. Security Name: Common Shares Security Type: Common Stock Securities Offered: 8,510,000 Price\Range: $12.35Reported Earnings • Nov 03Third quarter 2023 earnings released: EPS: US$0.027 (vs US$0.041 in 3Q 2022)Third quarter 2023 results: EPS: US$0.027 (down from US$0.041 in 3Q 2022). Revenue: US$105.2m (up 22% from 3Q 2022). Net income: US$2.53m (down 33% from 3Q 2022). Profit margin: 2.4% (down from 4.4% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Metals and Mining industry in the US. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has remained flat, which means it is well ahead of earnings.お知らせ • Nov 02Ero Copper Corp. Announces Changes to the Board of DirectorsEro Copper Corp. announced the appointment of Faheem Tejani to the Company's Board of Directors (the "Board"), effective November 1, 2023, as part of the Company's ongoing Board succession planning. The Company also announced that Director Matthew Wubs will not be seeking re-election at the 2024 Annual Meeting of Shareholders (the "2024 Annual Meeting"), as he plans to dedicate more time to his family business. Mr. Tejani is a seasoned finance professional with 25 years of experience in capital markets, corporate finance, and mergers and acquisitions. He is currently the President of Capital Asset Lending, one of the private mortgage administrators of non-traditional residential mortgages in Canada with approximately $1 billion of assets under management. Prior to this, he dedicated over 17 years of his career to BMO Capital Markets, culminating his tenure as Managing Director in the Equity Capital Markets division, with a focus on the mining and metals sector. Before joining BMO Capital Markets, he worked at one of the global accounting firms. Mr. Tejani also notably served on the Board of Directors of Pretium Resources from 2018 to 2022. He holds a Bachelor of Arts (Honours) degree from the University of Western Ontario and is a Chartered Professional Accountant. In preparation for these transitions, Jill Angevine has been appointed as the new Chairperson of the Board's Audit Committee. Mr. Wubs will remain a member of the Board's Audit Committee until the 2024 Annual Meeting.お知らせ • Oct 20Ero Copper Corp. Provides an Update on the Excellent Progress Being Made At the Company's Tucumã ProjectEro Copper Corp. provided an update on the excellent progress being made at the company's Tucumã Project. Since commencing site works in 2022, all engineering, procurement and construction activities for the Project remain on schedule for first copper concentrate production in H2 2024. Total direct Project capital expenditures remain in line with current guidance of approximately $305 million. Project development highlights include: Construction: Physical construction of the Project is now 70% complete; Significant advancement in mine pre-stripping, with first sulphide ore on track to be reached in early November; All earthworks now completed, including the water storage reservoir, site drainage and run-of-mine stockpiles; Over 15,000 cubic meters of concrete poured (over 65% complete), concluding all major foundation requirements for the Project; Steel structure pre-assembly and erection tracking ahead of schedule with approximately 1,000 tonnes of steel already in place; Key pieces of processing equipment arrived on site with installations either concluded or ongoing, including the primary crusher, ball mill, secondary and tertiary crushers, vibrating screen decks and flotation cells; Main substation installed on site, primary e-room commissioned, and approximately 16 kilometer power line construction tracking ahead of schedule; tie-in to national grid power expected during fourth quarter of 2023. Platework, piping and electrical cabling all commenced ahead of schedule: People & Safety: Peak construction workforce successfully mobilized on the Project: Approximately 1,750 third-party contractors and employees working on site; To date, there have been no lost-time injuries on the Project, with approximately two million hours of work completed since 2022; Commissioning: The Company remains on track to initiate the first phase of process plant commissioning by year-end and commence operations in second half of 2024.お知らせ • Oct 07Ero Copper Corp. to Report Q3, 2023 Results on Nov 02, 2023Ero Copper Corp. announced that they will report Q3, 2023 results on Nov 02, 2023Seeking Alpha • Aug 13Ero Copper: Red Hot But Expensive [Rating Downgrade]Summary I gave Ero Copper a buy rating almost a year ago, when it was trading at 5x earnings, despite major growth prospects, and the stock price has soared since. Ero missed its Q2 sales target by 4% after realized copper prices came in 15% lower than the market, which seemed to stun analysts on the earnings call. Although the growth prospects remain impressive, the stock may have run too hot, too fast. Read the full article on Seeking AlphaNew Risk • Aug 07New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.7% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (47% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (19% net profit margin). Shareholders have been diluted in the past year (2.7% increase in shares outstanding). Significant insider selling over the past 3 months (US$370k sold).Reported Earnings • Aug 04Second quarter 2023 earnings released: EPS: US$0.32 (vs US$0.26 in 2Q 2022)Second quarter 2023 results: EPS: US$0.32 (up from US$0.26 in 2Q 2022). Revenue: US$104.9m (down 8.7% from 2Q 2022). Net income: US$29.6m (up 24% from 2Q 2022). Profit margin: 28% (up from 21% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Metals and Mining industry in the US. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth.お知らせ • Aug 04Ero Copper Corp. Reaffirms Production Guidance for the Year 2023Ero Copper Corp. reaffirmed production guidance for the year 2023. In 2023, company expects copper production guidance at the Caraíba Operations of 44,000 to 47,000, tonnes of copper in concentrate. Mill throughput volumes are expected to be slightly lower in Third quarter 2023 compared to second quarter 2023 and higher in fourth quarter 2023 due to the anticipated commissioning of the new ball mill. Combined with expected copper grade variations related to planned stope sequencing, copper production is expected to decrease slightly in third quarter 2023 before increasing in the last quarter of the year. At the Xavantina Operations, the Company is reaffirming its 2023 gold production guidance range of 50,000 to 53,000 ounces with slightly higher gold production expected in second half 2023 due to increased mill throughput volumes following the expected commencement of production from the Matinha vein.お知らせ • Jul 07Ero Copper Corp. to Report Q2, 2023 Results on Aug 03, 2023Ero Copper Corp. announced that they will report Q2, 2023 results on Aug 03, 2023Valuation Update With 7 Day Price Move • Jun 15Investor sentiment improves as stock rises 16%After last week's 16% share price gain to US$20.29, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 11x in the Metals and Mining industry in the US. Total returns to shareholders of 69% over the past three years.お知らせ • Jun 09+ 1 more updateEro Copper Announces Update on Nickel Sulphide Exploration Program — Intercepts 11.2 Meters Grading 1.86% Nickel, including 5.0 Meters Grading 3.71% NickelEro Copper Corp. provided an update on its ongoing regional nickel sulphide exploration program within the Curaçá Valley. Drilling activity over the last several months has focused on delineating the Umburana System, which has a current strike length of approximately five kilometers. Mineralization, which outcrops at surface, remains open to depth, to the north and between the VB and Lazaro ("LZ") Zones. To date, the Company has received assays on 97 diamond drill holes across the Umburana System, including 63 diamond drill holes within the VB Zone and 34 within the LZ Zone. New results from drilling conducted since September 2022 are highlighted by: VB Zone: VB-41: 11.2 meters at 1.86% Ni, 0.26% Cu and 0.05% Co (2.08% NiEq), including 5.0 meters at 3.71% Ni, 0.13% Cu and 0.09% Co (4.00% NiEq); Interval includes 1.9 meters of massive-sulphide textures grading 7.09% Ni, 0.18% Cu and 0.18% Co (7.61% NiEq); VB-52: 25.9 meters at 0.69% Ni, 0.18% Cu and 0.02% Co (0.80% NiEq), including 15.5 meters at 1.01% Ni, 0.25% Cu and 0.03% Co (1.17% NiEq); VB-59: 18.7 meters at 0.79% Ni, 0.14% Cu and 0.02% Co (0.90% NiEq), including 6.8 meters at 1.49% Ni, 0.22% Cu and 0.04% Co (1.68% NiEq). LZ Zone: LZ-25: 46.1 meters at 0.20% Ni, 0.04% Cu and 0.03% Co (0.28% NiEq), including 2.6 meters at 0.75% Ni, 0.18% Cu and 0.06% Co (0.96% NiEq); LZ-32: 11.3 meters at 0.43% Ni, 0.10% Cu and 0.02% Co (0.51% NiEq), including 7.0 meters at 0.61% Ni, 0.14% Cu and 0.03% Co (0.73% NiEq). In addition to new drill results, the Company has commenced metallurgical test work on the Umburana System. While the program remains ongoing, initial metallurgical tests, completed on three composite samples of varying grades, demonstrates nickel recoveries through the rougher circuit ranging from 77% to 91% across a range of grind sizes, suggesting that the vast majority of nickel within the Umburana System is contained within sulphide minerals with very little nickel encapsulated within silicate minerals that would render the nickel unrecoverable.Seeking Alpha • Jun 07Ero Copper: Strong Prospects But Shares May Become CheaperSummary Ero Copper Corp. has attractive growth potential but could face near-term challenges due to an expected recession weighing on copper demand. The company's share price is likely to be negatively impacted by the recession, but this could create a more attractive entry point for investors. Ero's growth plans include doubling annual copper production and increasing gold production, making the company an attractive investment for exposure to both markets. Read the full article on Seeking AlphaRecent Insider Transactions • May 22Independent Director recently sold US$277k worth of stockOn the 19th of May, Lyle Braaten sold around 15k shares on-market at roughly US$18.49 per share. This transaction amounted to 4.2% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months.Valuation Update With 7 Day Price Move • May 15Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to US$17.53, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 10x in the Metals and Mining industry in the US. Total returns to shareholders of 64% over the past three years.Reported Earnings • May 10First quarter 2023 earnings released: EPS: US$0.26 (vs US$0.58 in 1Q 2022)First quarter 2023 results: EPS: US$0.26 (down from US$0.58 in 1Q 2022). Revenue: US$101.0m (down 7.3% from 1Q 2022). Net income: US$24.2m (down 54% from 1Q 2022). Profit margin: 24% (down from 48% in 1Q 2022). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 31% p.a. on average during the next 3 years, compared to a 1.6% growth forecast for the Metals and Mining industry in the US. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth.お知らせ • May 09Ero Copper Corp. Provides Production Guidance for the Year 2023Ero Copper Corp. provided production guidance for the year 2023. For the year, the company expects Copper Production (Caraíba Operations) to be in the range of 44,000 tonnes to 47,000 tonnes, Gold Production (Xavantina Operations) to be in the range of 50,000 ounces to 53,000 ounces.Reported Earnings • Mar 08Full year 2022 earnings released: EPS: US$1.12 (vs US$2.27 in FY 2021)Full year 2022 results: EPS: US$1.12 (down from US$2.27 in FY 2021). Revenue: US$426.4m (down 13% from FY 2021). Net income: US$101.8m (down 49% from FY 2021). Profit margin: 24% (down from 41% in FY 2021). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 19% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in the US are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth.Valuation Update With 7 Day Price Move • Mar 03Investor sentiment improves as stock rises 21%After last week's 21% share price gain to US$18.18, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 13x in the Metals and Mining industry in the US. Total returns to shareholders of 82% over the past three years.Seeking Alpha • Feb 21Ero Copper: Battery Mineral Upside But Lula Risk PrevailsSummary Ero Copper is the mid-tier Canadian copper player with multiple projects in Brazil. The company has posted sizable growth and promising financials over the past several years. Its development projects post compelling NPVs and promising upside. But a change in the Brazilian political landscape could hinder upside.株主還元EROUS Metals and MiningUS 市場7D12.8%5.6%1.8%1Y115.7%95.5%28.4%株主還元を見る業界別リターン: ERO過去 1 年間で95.5 % の収益を上げたUS Metals and Mining業界を上回りました。リターン対市場: ERO過去 1 年間で28.4 % の収益を上げたUS市場を上回りました。価格変動Is ERO's price volatile compared to industry and market?ERO volatilityERO Average Weekly Movement8.8%Metals and Mining Industry Average Movement9.9%Market Average Movement7.2%10% most volatile stocks in US Market16.7%10% least volatile stocks in US Market3.0%安定した株価: ERO 、 US市場と比較して、過去 3 か月間で大きな価格変動はありませんでした。時間の経過による変動: EROの 週次ボラティリティ ( 9% ) は過去 1 年間安定しています。会社概要設立従業員CEO（最高経営責任者ウェブサイト20163,690Makko DeFilippowww.ero.comエロ・カッパー社はブラジルで鉱業プロジェクトの探鉱、開発、生産に従事している。同社の主要資産には、ブラジルのバイーア州に位置する銅精鉱の生産と販売からなるカライバ事業と、副産物として生産・販売される金と銀が含まれる。同社は2016年に法人化され、カナダのバンクーバーに本社を置いている。もっと見るEro Copper Corp. 基礎のまとめEro Copper の収益と売上を時価総額と比較するとどうか。ERO 基礎統計学時価総額US$3.11b収益（TTM）US$292.27m売上高(TTM)US$923.93m10.9xPER（株価収益率3.4xP/SレシオERO は割高か？公正価値と評価分析を参照収益と収入最新の決算報告書（TTM）に基づく主な収益性統計ERO 損益計算書（TTM）収益US$923.93m売上原価US$528.91m売上総利益US$395.02mその他の費用US$102.75m収益US$292.27m直近の収益報告Mar 31, 2026次回決算日該当なし一株当たり利益（EPS）2.80グロス・マージン42.75%純利益率31.63%有利子負債／自己資本比率52.8%ERO の長期的なパフォーマンスは？過去の実績と比較を見るView Valuation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2026/05/29 21:52終値2026/05/29 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
Seeking Alpha • May 16Ero Copper: I'm Not Crazy Enough To Say 'Free Lunch,' But This Situation Comes CloseSummary I covered mining stocks many years ago, when I didn’t have enough seniority to switch to something less hair-raising. Price volatility. Operational risks. Yuk. Phooey! It’s now time for me to grow the heck up. How can anyone miss the impact our digital revolution (AI and more) is having on demand for key metals! Having already dipped my toes into the rare earths (MP and USAR), I look now at Brazilian Ero Copper. Brazil has lots of copper (and some gold for added spice). Volume is rising due to ERO’s having addressed some operating snags at one longtime mine and a new mine flexing its volume muscles. Prices have been good but volatile. But…. Copper’s long-term prospects are amazing. Demand is going to boom, and supply will struggle to keep apace. Volatility won’t vanish, but for a 3- to 5-year horizon, ERO is a solid “Buy.”. Read the full article on Seeking Alpha
Recent Insider Transactions • May 14Independent Director recently sold US$305k worth of stockOn the 12th of May, Lyle Braaten sold around 10k shares on-market at roughly US$30.46 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 US$4.1m more than they bought in the last 12 months.
Valuation Update With 7 Day Price Move • May 11Investor sentiment improves as stock rises 16%After last week's 16% share price gain to US$28.48, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 11x in the Metals and Mining industry in the US. Total returns to shareholders of 55% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$21.52 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 86%. Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Metals and Mining industry in the US. 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 13% 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 US$25.82. The fair value is estimated to be US$21.51, 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.
Seeking Alpha • May 16Ero Copper: I'm Not Crazy Enough To Say 'Free Lunch,' But This Situation Comes CloseSummary I covered mining stocks many years ago, when I didn’t have enough seniority to switch to something less hair-raising. Price volatility. Operational risks. Yuk. Phooey! It’s now time for me to grow the heck up. How can anyone miss the impact our digital revolution (AI and more) is having on demand for key metals! Having already dipped my toes into the rare earths (MP and USAR), I look now at Brazilian Ero Copper. Brazil has lots of copper (and some gold for added spice). Volume is rising due to ERO’s having addressed some operating snags at one longtime mine and a new mine flexing its volume muscles. Prices have been good but volatile. But…. Copper’s long-term prospects are amazing. Demand is going to boom, and supply will struggle to keep apace. Volatility won’t vanish, but for a 3- to 5-year horizon, ERO is a solid “Buy.”. Read the full article on Seeking Alpha
Recent Insider Transactions • May 14Independent Director recently sold US$305k worth of stockOn the 12th of May, Lyle Braaten sold around 10k shares on-market at roughly US$30.46 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 US$4.1m more than they bought in the last 12 months.
Valuation Update With 7 Day Price Move • May 11Investor sentiment improves as stock rises 16%After last week's 16% share price gain to US$28.48, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 11x in the Metals and Mining industry in the US. Total returns to shareholders of 55% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$21.52 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 86%. Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Metals and Mining industry in the US. 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 13% 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 US$25.82. The fair value is estimated to be US$21.51, 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.
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 13%. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Metals and Mining industry in the US. Over the last 3 years on average, earnings per share has increased by 18% per year and the company’s share price has also increased by 18% 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 US$34.42, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 13x in the Metals and Mining industry in the US. Total returns to shareholders of 101% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$53.67 per share.
Price Target Changed • Feb 25Price target increased by 10% to US$36.00Up from US$32.67, the current price target is an average from 15 analysts. New target price is approximately in line with last closing price of US$34.37. Stock is up 168% over the past year. The company is forecast to post earnings per share of US$2.90 next year compared to a net loss per share of US$0.66 last year.
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.
Price Target Changed • Feb 08Price target increased by 7.1% to US$35.51Up from US$33.17, the current price target is an average from 16 analysts. New target price is 16% above last closing price of US$30.61. Stock is up 129% over the past year. The company is forecast to post earnings per share of US$2.90 next year compared to a net loss per share of US$0.66 last year.
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.
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
Buy Or Sell Opportunity • Jan 30Now 29% undervaluedOver the last 90 days, the stock has risen 57% to US$33.51. The fair value is estimated to be US$47.22, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.4% over the last 3 years. Earnings per share has declined by 26%. For the next 3 years, revenue is forecast to grow by 8.9% per annum. Earnings are also forecast to grow by 11% per annum over the same time period.
Valuation Update With 7 Day Price Move • Jan 28Investor sentiment improves as stock rises 16%After last week's 16% share price gain to US$36.10, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 14x in the Metals and Mining industry in the US. Total returns to shareholders of 115% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$47.76 per share.
Recent Insider Transactions • Jan 27Independent Director recently sold US$978k worth of stockOn the 23rd of January, Robert Hinman Getz sold around 30k shares on-market at roughly US$32.61 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 US$1.0m. Insiders have been net sellers, collectively disposing of US$3.2m 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.
Price Target Changed • Jan 13Price target increased by 9.3% to US$33.17Up from US$30.33, the current price target is an average from 15 analysts. New target price is 11% above last closing price of US$29.83. Stock is up 114% 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.
Recent Insider Transactions • Jan 06Independent Lead Director recently sold US$1.0m worth of stockOn the 5th of January, John Wright sold around 35k shares on-market at roughly US$29.88 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 US$1.9m more than they bought in the last 12 months.
Recent Insider Transactions • Nov 30Independent Director recently sold US$924k worth of stockOn the 28th of November, Lyle Braaten sold around 37k shares on-market at roughly US$25.21 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 US$733k more than they bought in the last 12 months.
Valuation Update With 7 Day Price Move • Nov 28Investor sentiment improves as stock rises 17%After last week's 17% share price gain to US$25.37, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 12x in the Metals and Mining industry in the US. Total returns to shareholders of 94% over the past three years.
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 21%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Metals and Mining industry in the US. 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 18% 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.
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
Valuation Update With 7 Day Price Move • Sep 29Investor sentiment improves as stock rises 15%After last week's 15% share price gain to US$19.97, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 14x in the Metals and Mining industry in the US. Total returns to shareholders of 77% over the past three years.
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 US$16.93, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 14x in the Metals and Mining industry in the US. Total returns to shareholders of 62% over the past three years.
Price Target Changed • Sep 10Price target increased by 7.1% to US$18.75Up from US$17.50, the current price target is an average from 14 analysts. New target price is 19% above last closing price of US$15.75. Stock is down 16% over the past year. The company is forecast to post earnings per share of US$2.75 next year compared to a net loss per share of US$0.66 last year.
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 100%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Metals and Mining industry in the US. 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 12% 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.
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 US$14.28, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 13x in the Metals and Mining industry in the US. Total returns to shareholders of 65% 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.
Price Target Changed • Jun 25Price target increased by 21% to US$18.50Up from US$15.25, the current price target is an average from 13 analysts. New target price is 17% above last closing price of US$15.83. Stock is down 28% over the past year. The company is forecast to post earnings per share of US$2.99 next year compared to a net loss per share of US$0.66 last 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
Price Target Changed • Jun 04Price target increased by 18% to US$18.00Up from US$15.25, the current price target is an average from 13 analysts. New target price is 13% above last closing price of US$15.90. Stock is down 19% over the past year. The company is forecast to post earnings per share of US$3.02 next year compared to a net loss per share of US$0.66 last year.
Reported Earnings • May 06First 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 96 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.
Seeking Alpha • Apr 27Ero Copper: 2025 Could Be A Record Year For ProfitabilitySummary Ero Copper Corp. receives a "Buy" rating due to rising profitability, driven by strong metal prices and solid production from its Brazilian mines. Ero Copper seems undervalued and represents an attractive entry point given its growth potential, fantastic opportunities to improve financial metrics, and shares are 24% lower than previous analysis. The company is set for transformational growth in 2025, with significant increases in copper production and cash flow from operations, particularly from the Tucumã mine. Ero Copper's improved profitability and operational flexibility, alongside favorable market conditions for copper and gold, make its NYSE-listed shares a compelling investment. Read the full article on Seeking Alpha
Price Target Changed • Apr 07Price target decreased by 19% to US$15.00Down from US$18.50, the current price target is an average from 12 analysts. New target price is 49% above last closing price of US$10.09. Stock is down 52% over the past year. The company is forecast to post earnings per share of US$2.20 next year compared to a net loss per share of US$0.66 last year.
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 4.7% growth forecast for the Metals and Mining industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance.
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
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
Seeking Alpha • Feb 03ERO Copper: Undervalued Growth Play As Copper Production Set To DoubleSummary ERO Copper is undervalued with a 54% upside potential, driven by rising copper and gold prices, and production set to double in 2025. The new Tucumã mine will significantly boost copper output, complementing the existing Caraíba and Xavantina mines, enhancing overall production and revenue. Despite operating in Brazil, a non-Tier one mining jurisdiction, ERO Copper's growth prospects and low valuation compared to peers make it a compelling buy. Risks include commodity price volatility, operational disruptions, and jurisdictional uncertainties, but the long-term outlook for copper and gold remains bullish. Read the full article on Seeking Alpha
Price Target Changed • Jan 16Price target decreased by 22% to US$21.00Down from US$27.00, the current price target is an average from 12 analysts. New target price is 51% above last closing price of US$13.90. Stock is down 7.8% over the past year. The company is forecast to post earnings per share of US$0.42 for next year compared to US$0.99 last year.
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.
Seeking Alpha • Nov 16Ero Copper: Attractive Price With Amazing Prospects For Copper And GoldSummary Ero Copper Corp. upgraded to "Buy" due to promising copper and gold production prospects in Brazil and global market prices, despite short-term "Trump Trade" impacts. Copper demand is set to surge due to global electrification and AI data centers, positioning Ero Copper for significant future growth. Ero Copper's profitability is improving, driven by lower costs and higher metal prices, making current oversold share levels an attractive entry point. Bullish sentiment on gold due to the Fed's rate cut is being bolstered by investors flocking to the metal as a portfolio hedge. Investors should consider buying Ero Copper shares now, anticipating a strong rebound with expected interest rate cuts and favorable metals market conditions. Read the full article on Seeking Alpha
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.
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
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 18%After last week's 18% share price decline to US$19.06, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 11x in the Metals and Mining industry in the US. Total loss to shareholders of 17% over the past three years.
Recent Insider Transactions • May 13Independent Director recently sold US$469k worth of stockOn the 10th of May, Lyle Braaten sold around 21k shares on-market at roughly US$22.11 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 US$541k 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 released: US$0.069 loss per share (vs US$0.26 profit in 1Q 2023)First 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 is forecast to grow 23% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Metals and Mining industry in the US. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings.
お知らせ • Apr 12Ero Copper Corp. to Report Q1, 2024 Results on May 07, 2024Ero Copper Corp. announced that they will report Q1, 2024 results After-Market on May 07, 2024
Valuation Update With 7 Day Price Move • Mar 15Investor sentiment improves as stock rises 15%After last week's 15% share price gain to US$19.05, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 13x in the Metals and Mining industry in the US. Total returns to shareholders of 2.3% over the past three years.
お知らせ • Mar 09Ero Copper Corp. Provides Production Guidance for the Year 2024Ero Copper Corp. provided production guidance for the year 2024. The company's 2024 production guidance reflects the ongoing execution of its organic growth strategy, including the successful completion of the Xavantina Operations' NX60 initiative as well as the anticipated completion of the Tucumã Project, which remains on track to commence production in H2 2024. As a result, the Company expects to deliver consolidated copper production of 59,000 to 72,000 tonnes in concentrate and gold production of 55,000 to 60,000 ounces. The Company's 2024 copper C1 cash cost guidance on a consolidated basis is $1.50 to $1.75. This range incorporates several key updates relative to previous 2024 C1 cash cost projections, including a revised copper C1 cash cost calculation methodology, as detailed in the Company's dated February 21, 2024. At the Xavantina Operations, the gold C1 cash cost guidance range of $550 to $650 reflects improved fixed cost efficiencies driven by higher expected gold production, partially offsetting the impact of planned decreases to mined and processed gold grades. The gold AISC guidance range for 2024 is $1,050 to $1,150. The Company's updated 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.
Reported Earnings • Mar 08Full year 2023 earnings released: EPS: US$0.99 (vs US$1.12 in FY 2022)Full year 2023 results: EPS: US$0.99 (down from US$1.12 in FY 2022). Revenue: US$427.5m (flat on FY 2022). Net income: US$92.8m (down 8.9% from FY 2022). Profit margin: 22% (down from 24% in FY 2022). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Metals and Mining industry in the US. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings.
お知らせ • Feb 21Ero Copper Corp. Provides Production Guidance for Fiscal Year 2024 and Fiscal Year 2025Ero Copper Corp. provided production guidance for the fiscal year 2024 and 2025. For the year 2024, the company expects Consolidated copper production is expected to be 59,000 tonnes to 72,000 tonnes in concentrate at C1 cash costs between $1.50 to $1.75 per pound of copper produced.For the year 2025, the company expects consolidated copper production is projected to more than double to 95,000 tonnes to 105,000 tonnes in 2025.
お知らせ • Feb 10Ero Copper Corp., Annual General Meeting, Apr 24, 2024Ero Copper Corp., Annual General Meeting, Apr 24, 2024.
お知らせ • Feb 06Ero Copper Corp. to Report Q4, 2023 Results on Mar 07, 2024Ero Copper Corp. announced that they will report Q4, 2023 results After-Market on Mar 07, 2024
Seeking Alpha • Feb 03Ero Copper: Wait For Better Entries In This Growing Player (Rating Downgrade)Summary Ero Copper Corp. receives a "Hold" rating, downgraded from "Buy," due to current unattractive stock patterns. The company's growth prospects in the copper and gold mining sectors are positive, but the market value of shares is not the most favorable one. Ero Copper's performance has outperformed competitors and the materials sector in the long run, making it a very interesting investment option. Read the full article on Seeking Alpha
お知らせ • Jan 18Ero Copper Corp. Provides Construction Update for the Tucum ProjectEro Copper Corp. provided a construction update for the Tucum Project (the "Project"), highlighting significant progress since October 2023. With physical completion now at over 85% and production of copper concentrate scheduled to commence in second quarter 2024, the Company has initiated the transition from construction to commissioning, as outlined below in the 2024 Commissioning Plan. Construction: Physical construction of the Project is now over 85% complete. Main substation and e-houses installed and commissioned with 16-kilometer power line tie-in to the national grid completed ahead of schedule; line expected to be fully energized by the 20th of January. Pre-stripping activities are tracking approximately 10% ahead of schedule with completion now expected at the end of first quarter 2024. Construction activities through the remainder of First Quarter 2024 will focus on completing piping, electric cabling, automation and instrumentation system installations. 2024 Commissioning Plan: Expected commissioning milestones in advance of first concentrate production in second quarter 2024, include: End of First Quarter 2024: mechanical completion and sub-component commissioning (lubrication, hydraulic, electrical, instrumentation and automation systems). March 2024: First ore through the crushing circuit comprised of primary and secondary crushers as well as screening and conveyance systems. April 2024: First ore through the milling circuit, May 2024: First ore through regrind mill circuit, concentrate and tailings filtering systems. June 2024: Integrated commissioning with flotation circuit and Project ramp-up. People & Safety: Opportunistic increase in construction workforce mobilization. Recent demobilization of a Brazilian mining project has allowed the Company to add approximately 500 trained contractors on site, increasing the total workforce of employees and contractors to approximately 2,220 people. To date, there have been no lost-time injuries on the Project, with over three million hours of work completed since 2022. Project Capital Estimate: Remaining construction expenditures hedged through expanded foreign exchange hedge program. Direct Project capital expenditures have been updated to approximately $310 million (compared to the previous estimate of $305 million) to reflect the impact of a stronger Brazilian Real ("BRL") against the U.S. dollar ("USD") in fourth quarter 2023, which was partially offset by reduced stripping costs. Following the opportunistic expansion of the Company's foreign exchange hedge program in late 2023, the Project's remaining construction expenditures are hedged at a weighted average floor and ceiling of 5.10 and 5.23 BRL per USD, respectively.
Recent Insider Transactions • Nov 19Director recently bought US$247k worth of stockOn the 14th of November, Faheem Tejani bought around 20k shares on-market at roughly US$12.35 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold US$73k more in shares than they bought in the last 12 months.
お知らせ • Nov 15Ero Copper Corp. has completed a Follow-on Equity Offering in the amount of $105.0985 million.Ero Copper Corp. has completed a Follow-on Equity Offering in the amount of $105.0985 million. Security Name: Common Shares Security Type: Common Stock Securities Offered: 8,510,000 Price\Range: $12.35 Discount Per Security: $0.6175
Seeking Alpha • Nov 11Ero Copper: The Returns Could Be Staggering If Gold Soars (Rating Upgrade)Summary Ero Copper Corp. receives a "Buy" rating which is an upgrade from the previous "Hold" rating. The company is well-positioned for future growth in copper and gold markets. The stock is currently trading at a cheap price compared to its growth opportunities. Read the full article on Seeking Alpha
お知らせ • Nov 08Ero Copper Corp. has filed a Follow-on Equity Offering in the amount of $105.0985 million.Ero Copper Corp. has filed a Follow-on Equity Offering in the amount of $105.0985 million. Security Name: Common Shares Security Type: Common Stock Securities Offered: 8,510,000 Price\Range: $12.35
Reported Earnings • Nov 03Third quarter 2023 earnings released: EPS: US$0.027 (vs US$0.041 in 3Q 2022)Third quarter 2023 results: EPS: US$0.027 (down from US$0.041 in 3Q 2022). Revenue: US$105.2m (up 22% from 3Q 2022). Net income: US$2.53m (down 33% from 3Q 2022). Profit margin: 2.4% (down from 4.4% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Metals and Mining industry in the US. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has remained flat, which means it is well ahead of earnings.
お知らせ • Nov 02Ero Copper Corp. Announces Changes to the Board of DirectorsEro Copper Corp. announced the appointment of Faheem Tejani to the Company's Board of Directors (the "Board"), effective November 1, 2023, as part of the Company's ongoing Board succession planning. The Company also announced that Director Matthew Wubs will not be seeking re-election at the 2024 Annual Meeting of Shareholders (the "2024 Annual Meeting"), as he plans to dedicate more time to his family business. Mr. Tejani is a seasoned finance professional with 25 years of experience in capital markets, corporate finance, and mergers and acquisitions. He is currently the President of Capital Asset Lending, one of the private mortgage administrators of non-traditional residential mortgages in Canada with approximately $1 billion of assets under management. Prior to this, he dedicated over 17 years of his career to BMO Capital Markets, culminating his tenure as Managing Director in the Equity Capital Markets division, with a focus on the mining and metals sector. Before joining BMO Capital Markets, he worked at one of the global accounting firms. Mr. Tejani also notably served on the Board of Directors of Pretium Resources from 2018 to 2022. He holds a Bachelor of Arts (Honours) degree from the University of Western Ontario and is a Chartered Professional Accountant. In preparation for these transitions, Jill Angevine has been appointed as the new Chairperson of the Board's Audit Committee. Mr. Wubs will remain a member of the Board's Audit Committee until the 2024 Annual Meeting.
お知らせ • Oct 20Ero Copper Corp. Provides an Update on the Excellent Progress Being Made At the Company's Tucumã ProjectEro Copper Corp. provided an update on the excellent progress being made at the company's Tucumã Project. Since commencing site works in 2022, all engineering, procurement and construction activities for the Project remain on schedule for first copper concentrate production in H2 2024. Total direct Project capital expenditures remain in line with current guidance of approximately $305 million. Project development highlights include: Construction: Physical construction of the Project is now 70% complete; Significant advancement in mine pre-stripping, with first sulphide ore on track to be reached in early November; All earthworks now completed, including the water storage reservoir, site drainage and run-of-mine stockpiles; Over 15,000 cubic meters of concrete poured (over 65% complete), concluding all major foundation requirements for the Project; Steel structure pre-assembly and erection tracking ahead of schedule with approximately 1,000 tonnes of steel already in place; Key pieces of processing equipment arrived on site with installations either concluded or ongoing, including the primary crusher, ball mill, secondary and tertiary crushers, vibrating screen decks and flotation cells; Main substation installed on site, primary e-room commissioned, and approximately 16 kilometer power line construction tracking ahead of schedule; tie-in to national grid power expected during fourth quarter of 2023. Platework, piping and electrical cabling all commenced ahead of schedule: People & Safety: Peak construction workforce successfully mobilized on the Project: Approximately 1,750 third-party contractors and employees working on site; To date, there have been no lost-time injuries on the Project, with approximately two million hours of work completed since 2022; Commissioning: The Company remains on track to initiate the first phase of process plant commissioning by year-end and commence operations in second half of 2024.
お知らせ • Oct 07Ero Copper Corp. to Report Q3, 2023 Results on Nov 02, 2023Ero Copper Corp. announced that they will report Q3, 2023 results on Nov 02, 2023
Seeking Alpha • Aug 13Ero Copper: Red Hot But Expensive [Rating Downgrade]Summary I gave Ero Copper a buy rating almost a year ago, when it was trading at 5x earnings, despite major growth prospects, and the stock price has soared since. Ero missed its Q2 sales target by 4% after realized copper prices came in 15% lower than the market, which seemed to stun analysts on the earnings call. Although the growth prospects remain impressive, the stock may have run too hot, too fast. Read the full article on Seeking Alpha
New Risk • Aug 07New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.7% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (47% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (19% net profit margin). Shareholders have been diluted in the past year (2.7% increase in shares outstanding). Significant insider selling over the past 3 months (US$370k sold).
Reported Earnings • Aug 04Second quarter 2023 earnings released: EPS: US$0.32 (vs US$0.26 in 2Q 2022)Second quarter 2023 results: EPS: US$0.32 (up from US$0.26 in 2Q 2022). Revenue: US$104.9m (down 8.7% from 2Q 2022). Net income: US$29.6m (up 24% from 2Q 2022). Profit margin: 28% (up from 21% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Metals and Mining industry in the US. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth.
お知らせ • Aug 04Ero Copper Corp. Reaffirms Production Guidance for the Year 2023Ero Copper Corp. reaffirmed production guidance for the year 2023. In 2023, company expects copper production guidance at the Caraíba Operations of 44,000 to 47,000, tonnes of copper in concentrate. Mill throughput volumes are expected to be slightly lower in Third quarter 2023 compared to second quarter 2023 and higher in fourth quarter 2023 due to the anticipated commissioning of the new ball mill. Combined with expected copper grade variations related to planned stope sequencing, copper production is expected to decrease slightly in third quarter 2023 before increasing in the last quarter of the year. At the Xavantina Operations, the Company is reaffirming its 2023 gold production guidance range of 50,000 to 53,000 ounces with slightly higher gold production expected in second half 2023 due to increased mill throughput volumes following the expected commencement of production from the Matinha vein.
お知らせ • Jul 07Ero Copper Corp. to Report Q2, 2023 Results on Aug 03, 2023Ero Copper Corp. announced that they will report Q2, 2023 results on Aug 03, 2023
Valuation Update With 7 Day Price Move • Jun 15Investor sentiment improves as stock rises 16%After last week's 16% share price gain to US$20.29, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 11x in the Metals and Mining industry in the US. Total returns to shareholders of 69% over the past three years.
お知らせ • Jun 09+ 1 more updateEro Copper Announces Update on Nickel Sulphide Exploration Program — Intercepts 11.2 Meters Grading 1.86% Nickel, including 5.0 Meters Grading 3.71% NickelEro Copper Corp. provided an update on its ongoing regional nickel sulphide exploration program within the Curaçá Valley. Drilling activity over the last several months has focused on delineating the Umburana System, which has a current strike length of approximately five kilometers. Mineralization, which outcrops at surface, remains open to depth, to the north and between the VB and Lazaro ("LZ") Zones. To date, the Company has received assays on 97 diamond drill holes across the Umburana System, including 63 diamond drill holes within the VB Zone and 34 within the LZ Zone. New results from drilling conducted since September 2022 are highlighted by: VB Zone: VB-41: 11.2 meters at 1.86% Ni, 0.26% Cu and 0.05% Co (2.08% NiEq), including 5.0 meters at 3.71% Ni, 0.13% Cu and 0.09% Co (4.00% NiEq); Interval includes 1.9 meters of massive-sulphide textures grading 7.09% Ni, 0.18% Cu and 0.18% Co (7.61% NiEq); VB-52: 25.9 meters at 0.69% Ni, 0.18% Cu and 0.02% Co (0.80% NiEq), including 15.5 meters at 1.01% Ni, 0.25% Cu and 0.03% Co (1.17% NiEq); VB-59: 18.7 meters at 0.79% Ni, 0.14% Cu and 0.02% Co (0.90% NiEq), including 6.8 meters at 1.49% Ni, 0.22% Cu and 0.04% Co (1.68% NiEq). LZ Zone: LZ-25: 46.1 meters at 0.20% Ni, 0.04% Cu and 0.03% Co (0.28% NiEq), including 2.6 meters at 0.75% Ni, 0.18% Cu and 0.06% Co (0.96% NiEq); LZ-32: 11.3 meters at 0.43% Ni, 0.10% Cu and 0.02% Co (0.51% NiEq), including 7.0 meters at 0.61% Ni, 0.14% Cu and 0.03% Co (0.73% NiEq). In addition to new drill results, the Company has commenced metallurgical test work on the Umburana System. While the program remains ongoing, initial metallurgical tests, completed on three composite samples of varying grades, demonstrates nickel recoveries through the rougher circuit ranging from 77% to 91% across a range of grind sizes, suggesting that the vast majority of nickel within the Umburana System is contained within sulphide minerals with very little nickel encapsulated within silicate minerals that would render the nickel unrecoverable.
Seeking Alpha • Jun 07Ero Copper: Strong Prospects But Shares May Become CheaperSummary Ero Copper Corp. has attractive growth potential but could face near-term challenges due to an expected recession weighing on copper demand. The company's share price is likely to be negatively impacted by the recession, but this could create a more attractive entry point for investors. Ero's growth plans include doubling annual copper production and increasing gold production, making the company an attractive investment for exposure to both markets. Read the full article on Seeking Alpha
Recent Insider Transactions • May 22Independent Director recently sold US$277k worth of stockOn the 19th of May, Lyle Braaten sold around 15k shares on-market at roughly US$18.49 per share. This transaction amounted to 4.2% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months.
Valuation Update With 7 Day Price Move • May 15Investor sentiment deteriorates as stock falls 15%After last week's 15% share price decline to US$17.53, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 10x in the Metals and Mining industry in the US. Total returns to shareholders of 64% over the past three years.
Reported Earnings • May 10First quarter 2023 earnings released: EPS: US$0.26 (vs US$0.58 in 1Q 2022)First quarter 2023 results: EPS: US$0.26 (down from US$0.58 in 1Q 2022). Revenue: US$101.0m (down 7.3% from 1Q 2022). Net income: US$24.2m (down 54% from 1Q 2022). Profit margin: 24% (down from 48% in 1Q 2022). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 31% p.a. on average during the next 3 years, compared to a 1.6% growth forecast for the Metals and Mining industry in the US. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth.
お知らせ • May 09Ero Copper Corp. Provides Production Guidance for the Year 2023Ero Copper Corp. provided production guidance for the year 2023. For the year, the company expects Copper Production (Caraíba Operations) to be in the range of 44,000 tonnes to 47,000 tonnes, Gold Production (Xavantina Operations) to be in the range of 50,000 ounces to 53,000 ounces.
Reported Earnings • Mar 08Full year 2022 earnings released: EPS: US$1.12 (vs US$2.27 in FY 2021)Full year 2022 results: EPS: US$1.12 (down from US$2.27 in FY 2021). Revenue: US$426.4m (down 13% from FY 2021). Net income: US$101.8m (down 49% from FY 2021). Profit margin: 24% (down from 41% in FY 2021). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 19% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in the US are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • Mar 03Investor sentiment improves as stock rises 21%After last week's 21% share price gain to US$18.18, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 13x in the Metals and Mining industry in the US. Total returns to shareholders of 82% over the past three years.
Seeking Alpha • Feb 21Ero Copper: Battery Mineral Upside But Lula Risk PrevailsSummary Ero Copper is the mid-tier Canadian copper player with multiple projects in Brazil. The company has posted sizable growth and promising financials over the past several years. Its development projects post compelling NPVs and promising upside. But a change in the Brazilian political landscape could hinder upside.
