Why Ero Copper Corp. (ERO) Dipped More Than Broader Market Today

Stock Performance - Ero Copper Corp ended the recent trading session at $19 49, showing a -1 47% change from the previous day's closing price [1] - The stock underperformed compared to the S&P 500's daily loss of 0 92%, the Dow's loss of 0 96%, and the Nasdaq's loss of 1 6% [1] - Over the last month, the company's shares decreased by 12 59%, lagging behind the Basic Materials sector's gain of 1 26% and the S&P 500's gain of 2 68% [1] Earnings and Revenue Projections - The company is expected to report earnings on November 5, 2024, with projected earnings per share (EPS) of$ 0 27, a 50% increase from the same quarter last year [1] - Revenue for the upcoming quarter is forecasted at $148 8 million, reflecting a 41 44% growth compared to the corresponding quarter of the prior year [1] - For the entire fiscal year, consensus estimates project earnings of$ 1 27 per share and revenue of $605 72 million, representing year-over-year changes of +45 98% and +41 68%, respectively [2] Analyst Estimates and Zacks Rank - Recent changes in analyst estimates for Ero Copper Corp indicate evolving near-term business trends, with positive revisions reflecting confidence in the company's performance [2] - The Zacks Rank system, which integrates estimate changes, currently assigns Ero Copper Corp a rank of 3 (Hold) [3] - The company's Forward P/E ratio of 15 53 is lower than the industry average of 25 26, indicating it is trading at a discount [3] Industry Overview - The Mining - Non Ferrous industry, part of the Basic Materials sector, holds a Zacks Industry Rank of 47, placing it in the top 19% of over 250 industries [3] - The Zacks Industry Rank measures the strength of industry groups, with the top 50% rated industries outperforming the bottom half by a factor of 2 to 1 [4]