Financial Data and Key Metrics Changes - The company reported adjusted EBITDA of $51.5 million and adjusted net income attributable to owners of the company of $18.6 million, or $0.18 per share on a diluted basis, compared to Q1 2024 [18] - Operating cash flow for the second quarter was $14.7 million, reflecting solid production and favorable market conditions [10] - C1 cash costs for copper production decreased to $2.16 per pound, driven by lower treatment charges and a stronger U.S. dollar against the Brazilian Real [9][18] Business Line Data and Key Metrics Changes - At Caraiba, copper production increased by 9.6% to 8,867 tons in concentrate, with tons processed up 12.2% quarter-on-quarter [7] - Xavantina operations saw gold production of 16,555 ounces, with tons processed up 6.9% quarter-on-quarter and unit operating costs below budget at $428 C1 cash costs per ounce [9] - The Tucuma Project achieved first saleable copper concentrate production in mid-July, with expectations to reach commercial production levels by the end of Q3 [5][12] Market Data and Key Metrics Changes - The strengthening of the U.S. dollar against the Brazilian Real increased from 5.01 on March 31 to 5.55 on June 30, benefiting operating costs but resulting in non-cash unrealized foreign exchange losses [18] - The company secured a blending treatment charge of just over $5 per ton for copper concentrate, significantly lower than the previous average of nearly $80 per ton [8][9] Company Strategy and Development Direction - The company is focused on doubling copper production next year and advancing its long-term growth strategy, highlighted by a definitive agreement with Vale Base Metals on the Furnas Copper Project [5][6] - The ramp-up of the Tucuma Project is a priority, with plans to shift focus to the Furnas project after completion of Tucuma's construction [15] - The company aims to deleverage its balance sheet while maintaining exploration budgets, reallocating resources to the Furnas project without significant changes to overall exploration expenses [26] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges faced during the quarter, including a fatal incident at Caraiba Operations, emphasizing a commitment to safety [4] - The company expects consolidated copper production to increase sequentially each quarter, driven by the ramp-up at Tucuma and higher mined grades at Carajás [10] - Full-year unit operating costs are projected to be lower than originally budgeted, with a reduction in gold C1 cash cost guidance by $100 to a range of $450 to $550 per ounce [11] Other Important Information - The company is on track to publish a maiden resource estimate for the Furnas project later this year, following extensive environmental studies and validation programs [6][15] - The ramp-up expenditures guidance for Tucuma has been increased due to early mining and associated costs, reflecting a revised tax position [14][58] Q&A Session Summary Question: Can you provide more details on the ramp-up at Tucumã? - The ramp-up is progressing well, with concentrate grades above expectations and recovery rates near design targets, achieving 40% to 50% of design throughput capacity [23] Question: Will there be financials related to Tucumã before reaching commercial production? - In Q3, some costs will be expensed as revenue is generated, but until commercial production is reached, only a portion of costs will be expensed [25] Question: What is the focus for 2025 regarding free cash flow? - The focus will be on deleveraging the balance sheet, with no significant changes expected in the overall exploration budget [26] Question: Can you confirm if there was a seismic event at Caraiba? - Yes, there was a seismic event, but it was unrelated to the fatality incident, and operations were temporarily evacuated as a precaution [28][29] Question: What are the grade expectations for the second half of the year at Caraiba? - The expectation is for a higher proportion of high-grade stopes, leading to improved grades compared to the first half of the year [31] Question: What is the strategy for the Furnas project? - The company plans to approach Furnas as an underground mine, requiring infill drilling and extending the deposit to depth [51]

(all amounts in US dollars, unless otherwise noted) VANCOUVER, British Columbia, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Ero Copper Corp. (TSX: ERO, NYSE: ERO) ("Ero" or the "Company") is pleased to announce its operating and financial results for the three and six months ended June 30, 2024. Management will host a conference call tomorrow, Friday, August 2, 2024, at 11:30 a.m. eastern time to discuss the results. Dial-in details for the call can be found near the end of this press release. HIGHLIGHTS The Company ...

(all amounts in US dollars, unless otherwise noted) VANCOUVER, British Columbia, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Ero Copper Corp. (TSX: ERO, NYSE: ERO) ("Ero" or the "Company") is pleased to announce its operating and financial results for the three and six months ended June 30, 2024. Management will host a conference call tomorrow, Friday, August 2, 2024, at 11:30 a.m. eastern time to discuss the results. Dial-in details for the call can be found near the end of this press release. HIGHLIGHTS The Company ...

VANCOUVER, British Columbia, July 22, 2024 (GLOBE NEWSWIRE) -- Ero Copper Corp. (TSX: ERO, NYSE: ERO) ("Ero" or the "Company") is pleased to announce that it has signed a definitive earn-in agreement ("Agreement") with Salobo Metais S.A, a subsidiary of Vale Base Metals Limited ("VBM"), to earn a 60% interest in the Furnas Copper Project ("Furnas" or the "Project") located in the Carajás Mineral Province in Pará State, Brazil. The terms of the Agreement align with the previously signed binding term sheet ou ...

VANCOUVER, British Columbia, July 08, 2024 (GLOBE NEWSWIRE) -- Ero Copper Corp. (TSX:ERO, NYSE:ERO) (the "Company") will publish its second quarter 2024 operating and financial results on Thursday, August 1, 2024 after market close. The Company will host a conference call to discuss the results on Friday, August 2, 2024 at 11:30am Eastern time (8:30am Pacific time). Dial In: Canada/USA Toll Free: 1-844-763-8274, International: +1-647-484-8814 Please dial in 5-10 minutes prior to the start of the call or pre ...

(all amounts in US dollars, unless otherwise noted) VANCOUVER, British Columbia, June 12, 2024 (GLOBE NEWSWIRE) -- Ero Copper Corp. (TSX:ERO, NYSE:ERO) (the "Company") is pleased to announce that it has received the Operational License for the Tucumã Project (the "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 ex ...

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. Even though momentum is a popular stock cha ...

Ero Copper Corp. (ERO) could be a solid choice for investors given the company's remarkably improving earnings outlook. While the stock has been a strong performer lately, this trend might continue since analysts are still raising their earnings estimates for the company. Analysts' growing optimism on the earnings prospects of this company is driving estimates higher, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate r ...

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Core Viewpoint - Ero Copper Corp. has gained attention as one of the most searched stocks, with a recent performance of +10.2% over the past month, outperforming the S&P 500 composite and the Zacks Mining - Non Ferrous industry [1] Earnings Estimates Revisions - The current quarter's earnings estimate for Ero Copper is projected at $0.27 per share, reflecting a +12.5% change year-over-year, with a significant +53.9% increase in the consensus estimate over the last 30 days [4] - The consensus earnings estimate for the current fiscal year stands at $1.59, indicating an +82.8% year-over-year change, with a slight +1.7% adjustment in the last month [4] - For the next fiscal year, the earnings estimate is $3.04, representing a +91% increase from the previous year, with a +1.7% change over the past month [5] Revenue Growth Forecast - The consensus sales estimate for the current quarter is $113.6 million, showing an +8.3% year-over-year change [8] - For the current fiscal year, the sales estimate is $648.34 million, indicating a +51.7% change, while the next fiscal year's estimate is $963.84 million, reflecting a +48.7% change [8] Last Reported Results and Surprise History - In the last reported quarter, Ero Copper achieved revenues of $105.8 million, a +4.8% year-over-year increase, and an EPS of $0.16, down from $0.24 a year ago [9] - The reported revenues exceeded the Zacks Consensus Estimate of $104.4 million by +1.34%, and the EPS surprise was +220% [9] - Over the last four quarters, Ero Copper surpassed consensus EPS estimates twice and revenue estimates twice [10] Valuation - Ero Copper is currently graded F on the Zacks Value Style Score, indicating it is trading at a premium compared to its peers [14] Conclusion - The Zacks Rank 1 for Ero Copper suggests potential outperformance against the broader market in the near term, despite its premium valuation [15]