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 ...

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Any recent changes to analyst estimates for Ero Copper Corp. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the ...

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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 ...

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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]

Financial Data and Key Metrics Changes - The company reported cash flows from operations of $17.2 million and adjusted net income attributable to owners of the company of $16.8 million or $0.16 per share on a diluted basis [62] - C1 cash costs averaged $2.30 per pound produced during the quarter, expected to decrease throughout the year due to projected increases in copper grades and production [56][44] - The company reaffirmed its full-year production guidance of 42,000 to 47,000 tons, with production expected to be weighted towards the second half of the year [56][44] Business Line Data and Key Metrics Changes - At Xavantina operations, gold production increased to 18,234 ounces, a rise of approximately 47% compared to Q1 2023, with C1 cash costs averaging $395 per ounce, below the full-year guidance [43][44] - The Caraiba operations processed approximately 853,000 tons, up over 5% compared to Q4, despite a planned decrease in mined and processed copper grades [44] - Average processed copper grades were reported at 1.08%, with production of 8,091 tons after recoveries of approximately 88% [75] Market Data and Key Metrics Changes - Copper prices rallied to their highest levels in nearly two years, driven by rising demand expectations and a constrained supply outlook [53] - The company locked in two-year TC/RC terms in the low teens on roughly one-third of projected concentrate production, enhancing its pricing strategy [53][28] Company Strategy and Development Direction - The company is focused on completing the Tucuma project, which is approximately 97% complete, with initial production expected in early Q3 2024 [42][48] - There are plans for a potential second concentrated plant in the northern part of the project, although this is still in preliminary evaluation stages [8] - The company aims to maintain its position as one of the lower-cost producers of copper globally by accessing high-grade ore bodies [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving 80% of nameplate capacity at Tucuma by the end of Q3, with a standard ramp-up rate expected over nine months [26][48] - The company highlighted a strong safety culture, with over five million hours of work completed without lost time injuries [54] - Management acknowledged macro and geopolitical uncertainties affecting gold prices, which have reached all-time highs, benefiting the company's operations [41] Other Important Information - The company entered into a $50 million non-priced copper prepayment facility, providing cost-effective capital in a favorable copper market [33] - A favorable move in foreign exchange led to a realized gain on foreign exchange hedges of $2.1 million [62] - The company is evaluating nickel exploration opportunities, with a focus on being strategic and disciplined in its approach [100][90] Q&A Session Summary Question: What is the expected throughput for Caraiba in 2024? - Management indicated that achieving nearly four million tons of throughput is reasonable, with expectations for average grades to improve [38] Question: Are there any delays in underground development at Caraiba? - Management confirmed that issues related to underground development are largely behind them, with strong development rates and production expected [15] Question: What are the critical path items for the Tucuma ramp-up? - Key items include electrical installations, automation, and minor piping, with significant progress already made [19][20] Question: What are the terms for concentrate offtake in the second half of the year? - Management mentioned favorable concentrate treatment and refining charges locked in for about one-third of production, with terms in the low-teens [28] Question: When will the definitive agreement for the Furnas project be finalized? - Management stated that the agreement is imminent and is being finalized with Vale [30] Question: What is the expected sustaining capital for the first year of Tucuma operations? - Management anticipates minimal sustaining capital in the first year, with most costs expensed [102]