Production Performance - Consolidated copper production reached a record 15,513 tonnes in Q2 2025, with a 25% increase in production at both the Caraíba and Tucumã Operations compared to Q1 2025[13] - The Caraíba Operations produced 9,162 tonnes of copper in concentrate at an average C1 cash cost of $2.07 per pound, reflecting a 25% quarter-on-quarter production growth and a 7% reduction in unit costs[13] - The Tucumã Operation produced 6,351 tonnes of copper in concentrate in Q2 2025, marking a 25% increase from Q1 2025 as commissioning and ramp-up continued[13] - The Xavantina Operations produced 7,743 ounces of gold at an average C1 cash cost of $1,115 per ounce, with a 17% increase in production quarter-on-quarter[13] - Total copper production guidance for 2025 revised to 67,500 - 80,000 tonnes, down from the original guidance of 75,000 - 85,000 tonnes[28] - Gold production guidance for 2025 adjusted to 40,000 - 50,000 ounces, down from 50,000 - 60,000 ounces[28] Financial Performance - Revenues for Q2 2025 were $163.5 million, up from $125.1 million in Q1 2025 and $117.1 million in Q2 2024[12] - Gross profit for Q2 2025 was $67.3 million, compared to $55.5 million in Q1 2025 and $43.3 million in Q2 2024[12] - Net income attributable to owners of the Company was $70.5 million in Q2 2025, an increase from $80.2 million in Q1 2025 and a loss of $53.2 million in Q2 2024[12] - Cash flow from operations was $90.3 million in Q2 2025, significantly higher than $65.4 million in Q1 2025 and $14.7 million in Q2 2024[12] - Year-to-date revenue for 2025 reached $288.6 million, up 29.5% from $222.9 million in 2024[39] - Net income for Q2 2025 was $71.0 million, a significant turnaround from a net loss of $53.4 million in Q2 2024[36] - Year-to-date net income for 2025 was $151.7 million, compared to a net loss of $60.2 million in 2024[39] Cost Management - The Caraíba Operations achieved a copper production of 9,162 tonnes in Q2 2025 at an average C1 cash cost of $2.07 per pound, with realized copper prices at $4.17 per pound[19] - At the Caraíba Operations, copper production guidance for 2025 is expected to be at the lower end of the 37,500 to 42,500 tonne range, with C1 cash costs projected to fall within $2.15 to $2.35 per pound[20] - The Tucumã Operation produced 6,351 tonnes of copper in Q2 2025, a 25% increase from Q1 2025, with updated full-year copper production guidance of 30,000 to 37,500 tonnes and C1 cash costs of $1.10 to $1.30 per pound[21] - C1 cash costs for gold in Q2 2025 were $1,115 per ounce, slightly up from $1,100 in Q1 2025[110] - AISC for gold in Q2 2025 was $2,234 per ounce, compared to $2,228 in Q1 2025, showing a marginal increase[110] Liquidity and Capital Structure - Available liquidity stood at $113.3 million as of Q2 2025, down from $169.8 million in the previous year[12] - As of June 30, 2025, the company had cash and cash equivalents of $68.3 million and available liquidity of $113.3 million, indicating strong liquidity position[43] - The company had a working capital deficit of $33.5 million as of June 30, 2025, indicating potential liquidity challenges[46] - The Company amended its Senior Credit Facility in January 2025, increasing the limit from $150.0 million to $200.0 million and extending the maturity to December 2028[49] - The Company entered into a $50.0 million non-priced copper prepayment facility, with repayments structured over 27 equal monthly installments starting October 2024, delivering 272 tonnes of copper monthly[50] Exploration and Development - The Company completed 18,000 meters of drilling at the Furnas Copper-Gold Project, with a Phase 1 drill program of 28,000 meters successfully concluded ahead of schedule[18] - The company expects to complete the 17,000-meter Phase 2 drill program at Furnas by year-end 2025, focusing on extending known mineralization[18] - Ongoing investments in mine modernization and mechanization at the Xavantina Operations are expected to drive higher production rates and lower unit costs in H2 2025[23] - The company has provided forward-looking statements regarding production, operating costs, and capital expenditure guidance, indicating a focus on expanding mineral resources and deposits[136] Market and Regulatory Considerations - The company emphasizes the importance of obtaining necessary governmental and regulatory approvals to advance its projects[140] - The company has acknowledged the inherent uncertainties in forward-looking statements and the potential for actual results to differ materially from projections[139] - The company has made assumptions regarding favorable market conditions, including equity and debt capital markets, to support its production and exploration initiatives[140] Shareholder Information - Basic net income per share for Q2 2025 was $0.68, a recovery from a loss of $0.52 per share in Q2 2024[36] - Adjusted EPS for Q2 2025 was $0.46, compared to $0.35 in Q1 2025 and $0.18 in Q2 2024, with a year-to-date adjusted EPS of $0.81[120] - As of July 31, 2025, the Company had 103,601,437 common shares issued and outstanding[82]

Group 1 - Ero Copper Corp. (ERO) stock closed at $14.46, reflecting a +1.76% change from the previous day, outperforming the S&P 500's gain of 0.14% [1] - Prior to the recent trading session, ERO shares had declined by 6.76%, underperforming the Basic Materials sector's gain of 2.1% and the S&P 500's gain of 5.35% [1] Group 2 - The upcoming earnings report for Ero Copper Corp. is scheduled for July 31, 2025, with projected EPS of $0.38, indicating a 111.11% increase year-over-year [2] - Quarterly revenue is expected to reach $182.9 million, representing a 56.19% increase from the same period last year [2] Group 3 - Full-year Zacks Consensus Estimates predict earnings of $1.92 per share and revenue of $781.65 million, reflecting year-over-year changes of +146.15% and +66.24%, respectively [3] Group 4 - Recent revisions to analyst forecasts for Ero Copper Corp. are important as they indicate the evolving short-term business trends and analysts' favorable outlook on the company's health and profitability [4] Group 5 - The Zacks Rank system, which incorporates estimate revisions, has shown that these changes correlate with near-term share price momentum [5] - Ero Copper Corp. currently holds a Zacks Rank of 3 (Hold), with a recent upward shift of 2.36% in the consensus EPS estimate [6] Group 6 - Ero Copper Corp. is trading at a Forward P/E ratio of 7.42, which is a discount compared to its industry's Forward P/E of 21.14 [7] - The Mining - Non Ferrous industry, part of the Basic Materials sector, has a Zacks Industry Rank of 39, placing it in the top 16% of over 250 industries [7]

Core Viewpoint - Ero Copper Corp. (ERO) shows potential for significant upside, with a mean price target of $19.52 indicating a 29.3% increase from the current price of $15.1 [1] Price Targets and Analyst Consensus - The average of 14 short-term price targets ranges from a low of $15.98 to a high of $25.00, with a standard deviation of $2.65, indicating variability in analyst estimates [2] - The lowest estimate suggests a 5.8% increase, while the highest points to a 65.6% upside [2] - A low standard deviation indicates a high degree of agreement among analysts regarding the stock's price movement [9] Earnings Estimates and Market Sentiment - Analysts have shown increasing optimism about ERO's earnings prospects, with a strong consensus in revising EPS estimates higher, which correlates with potential stock price increases [11] - The Zacks Consensus Estimate for the current year has risen by 2% over the past month, with two estimates increasing and one decreasing [12] - ERO holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates [13] Caution on Price Targets - While price targets are commonly referenced, they can mislead investors, as empirical research shows they rarely indicate actual stock price movements [7][10] - Analysts may set overly optimistic price targets due to business incentives, which can inflate expectations [8]

Core Insights - Ero Copper Corp. is a copper producer experiencing significant growth, with earnings expected to increase by 165% this year due to record-high copper prices [1][7][8] Company Overview - Ero Copper is headquartered in Vancouver, B.C., and operates primarily in Brazil, with a market capitalization of $1.5 billion [1] - The company holds a 99.6% interest in Mineracao Caraiba S.A., which owns the Caraiba and Tucuma Operations [1] - Ero Copper also owns 97.6% of NX Gold S.A., which operates the Xavantina gold and silver mine in Brazil [2] Recent Developments - The Tucuma Operation achieved commercial production as of July 1, 2025, with copper production totaling approximately 6,400 tonnes in Q2 2025 [3][7] - Ero Copper reported a strong Q1 2025, with earnings of $0.35 per share, significantly exceeding the consensus estimate of $0.17 [4] - The company reaffirmed its full-year expenditure guidance of $230 to $270 million, anticipating growth in copper production in the second half of the year [6] Financial Performance - The average C1 cash cost at the Caraiba operation was $2.22 per pound, while at the Xavantina operations, it was $1,100 per ounce with an All-in Sustaining Cost of $2,228 per ounce [4] - Ero Copper has a streaming agreement with Royal Gold, generating total proceeds of $160 million as of the end of Q1 2025 [5] - The company had available liquidity of $115.6 million at the end of Q1 2025, including $80.6 million in cash [5] Market Outlook - Analysts are optimistic about Ero Copper, with the Zacks Consensus Estimate for 2025 earnings raised to $2.07 from $2.02, reflecting a growth of 165.4% compared to last year's earnings of $0.78 [8] - The Zacks Consensus for 2026 earnings has also increased to $2.78 from $2.61, indicating a growth of 34.1% [9] - Ero Copper shares have rallied significantly over the last three months, outperforming the small-cap index, Russell 2000 [10] Valuation - Ero Copper is considered undervalued, trading at a forward price-to-earnings (P/E) ratio of 6.9 [12]

Core Viewpoint - Ero Copper Corp. has successfully completed its Phase 1 drill program at the Furnas Copper-Gold Project, revealing significant down-dip mineralization and extending known limits, which positions the project as a potential large-scale, high-grade underground mining operation [1][4][6]. Group 1: Drill Program Details - The Phase 1 drill program consisted of 28,000 meters, with results received for approximately 10,000 meters, demonstrating continuity and extending mineralization to a maximum depth of 730 meters [1][2]. - Only one of the 66 holes drilled did not intercept mineralization, indicating a high success rate in the drilling campaign [2]. - The program included infill drilling to confirm high-grade mineralization continuity and step-out drilling to extend known mineralization limits [2][4]. Group 2: Mineral Resource Estimates - The current NI 43-101 mineral resource estimate is based on historical drilling averaging 300 meters in depth, with a maximum localized depth of 580 meters [1][6]. - The indicated mineral resource is estimated at 35.2 million tonnes grading 1.04% copper and 0.69 grams per tonne gold (1.36% CuEq), while inferred resources total 61.3 million tonnes grading 1.06% copper and 0.63 grams per tonne gold (1.36% CuEq) [14]. Group 3: Future Plans - The company is advancing to a Phase 2 drill campaign, expected to comprise a minimum of 17,000 meters, with a greater focus on step-out drilling [5][6]. - The complete results from the Phase 1 program will inform an updated NI 43-101 mineral resource estimate and a preliminary economic assessment (PEA) scheduled for completion in the first half of 2026 [6][9]. Group 4: Project Location and Infrastructure - The Furnas Project is located in the Carajás Mineral Province in Pará State, Brazil, approximately 50 kilometers from Vale Base Metals' Salobo operations and 190 kilometers from Ero's Tucumã Operations [7][8]. - The project area covers approximately 2,400 hectares and is near extensive regional infrastructure, including paved roads and a power substation [8]. Group 5: Partnership and Agreements - In July 2024, Ero Copper signed an earn-in agreement with Salobo Metais S.A., a subsidiary of Vale Base Metals, to earn a 60% interest in the project by completing exploration and development milestones over five years [9][35].

Core Insights - Ero Copper Corp. announced the commencement of commercial production at its Tucumã Operation effective July 1, 2025, following the successful repair and commissioning of the third tailings filter in April 2025 [1][7]. Production Performance - The Tucumã Operation achieved sustained throughput rates exceeding 75% of its design capacity after the installation of the third filter press and modifications to the process plant [2]. - In Q2 2025, the operation produced approximately 6,400 tons of copper, with around 2,000 tons produced in the latter half of June [3][7]. - Metallurgical recovery rates and copper concentrate grades consistently met or exceeded targets, with expectations for increased throughput by year-end, driving sequential production growth in the second half of 2025 [3][7]. Financial Results - Ero Copper's Q1 2025 financial results showed improvement attributed to higher metals prices and increased production from the Tucumã Operation, resulting in higher net income and adjusted EBITDA compared to Q4 2024 [5]. Stock Performance - Ero Copper's shares have declined by 26.1% over the past year, contrasting with a 13.6% decline in the industry [6].

VANCOUVER, British Columbia, July 03, 2025 (GLOBE NEWSWIRE) -- Ero Copper Corp. (TSX: ERO, NYSE: ERO) ("Ero" or the “Company”) is pleased to announce that the Tucumã Operation, located in Pará 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. "The achievement of co ...

Company Performance - Ero Copper Corp. (ERO) experienced a decline of 2.78% in its stock price, closing at $16.77, while the S&P 500 gained 0.52% [1] - Over the past month, Ero Copper's shares have appreciated by 21.14%, outperforming the Basic Materials sector's gain of 4.06% and the S&P 500's gain of 5.95% [1] Upcoming Earnings - The upcoming earnings release for Ero Copper Corp. is scheduled for July 31, 2025, with projected earnings of $0.43 per share, indicating a year-over-year growth of 138.89% [2] - The consensus estimate for revenue is $195 million, reflecting a 66.52% increase from the prior-year quarter [2] Fiscal Year Projections - For the entire fiscal year, Zacks Consensus Estimates project earnings of $1.97 per share and revenue of $826 million, representing increases of 152.56% and 75.67% respectively from the previous year [3] - Recent modifications to analyst estimates indicate positive sentiment regarding Ero Copper's business and profitability [3] Valuation Metrics - Ero Copper Corp. has a Forward P/E ratio of 8.76, which is significantly lower than the industry average Forward P/E of 24.02 [6] - The Mining - Non Ferrous industry, part of the Basic Materials sector, currently holds a Zacks Industry Rank of 149, placing it in the bottom 40% of over 250 industries [6] Zacks Rank System - The Zacks Rank system, which ranges from 1 (Strong Buy) to 5 (Strong Sell), shows Ero Copper Corp. holding a Zacks Rank of 3 (Hold) [5] - The Zacks Rank has a proven track record of outperformance, with 1 ranked stocks yielding an average annual return of +25% since 1988 [5]

Company Overview - Ero Copper Corp. (ERO) shares increased by 9% to $17.25 in the last trading session, with a higher-than-average trading volume [1] - The stock has gained 10.8% over the past four weeks [1] Copper Market Dynamics - Ero Copper's gains are aligned with rising copper prices, which have surpassed $5 per pound due to increased shipments to the U.S. ahead of potential tariffs [2] - Approximately 400 kilotons of copper have been imported into the U.S. since February, tightening global supply [2] - Positive sentiment in the market is supported by easing tensions in the Middle East, reduced fears of retaliatory tariffs, anticipated Chinese stimulus, and a dovish Federal Reserve [2] Earnings Expectations - Ero Copper is expected to report quarterly earnings of $0.43 per share, reflecting a year-over-year increase of 138.9% [3] - Revenue projections stand at $195 million, marking a 66.5% increase from the same quarter last year [3] - The consensus EPS estimate has remained unchanged over the last 30 days, indicating a potential lack of momentum in earnings estimate revisions [4] Industry Context - Ero Copper operates within the Zacks Mining - Non Ferrous industry, which includes other companies like Centrus Energy Corp. (LEU) [4] - Centrus Energy's EPS estimate has decreased by 21.3% over the past month, indicating a contrasting trend within the same industry [5]

Core Viewpoint - The article discusses the reliability of brokerage recommendations, particularly focusing on Ero Copper Corp. (ERO), and suggests that while the average brokerage recommendation indicates a strong buy, investors should be cautious and validate this information with other tools like the Zacks Rank [1][5][14]. Group 1: Brokerage Recommendations - Ero Copper has an average brokerage recommendation (ABR) of 1.31, indicating a position between Strong Buy and Buy, based on recommendations from 13 brokerage firms [2]. - Out of the 13 recommendations, 10 are Strong Buy and 2 are Buy, which account for 76.9% and 15.4% of all recommendations respectively [2]. Group 2: Limitations of Brokerage Recommendations - Studies indicate that brokerage recommendations have limited success in guiding investors towards stocks with the best price increase potential [5]. - Analysts from brokerage firms often exhibit a strong positive bias due to vested interests, leading to a disproportionate number of favorable ratings compared to negative ones [6][10]. Group 3: Zacks Rank Comparison - The Zacks Rank is a proprietary stock rating tool that categorizes stocks into five groups based on earnings estimate revisions, which are shown to correlate strongly with near-term stock price movements [8][11]. - The Zacks Rank for Ero Copper is currently 3 (Hold), indicating a cautious outlook despite the favorable ABR [14]. Group 4: Earnings Estimates - The Zacks Consensus Estimate for Ero Copper's current year earnings remains unchanged at $1.97, suggesting steady analyst views on the company's earnings prospects [13]. - The lack of change in the consensus estimate may indicate that Ero Copper is likely to perform in line with the broader market in the near term [13].