Core Insights - Lundin Mining (LUNMF) reported quarterly earnings of $0.42 per share, exceeding the Zacks Consensus Estimate of $0.30 per share, and showing a significant increase from $0.12 per share a year ago, resulting in an earnings surprise of +40.80% [1] - The company achieved revenues of $1.3 billion for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 13.06%, and compared to $858.9 million in the same quarter last year [2] - Lundin shares have increased approximately 20% since the beginning of the year, significantly outperforming the S&P 500's gain of 0.5% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.27 on revenues of $1.09 billion, while for the current fiscal year, the estimate is $1.07 on revenues of $4.17 billion [7] - The estimate revisions trend for Lundin was mixed prior to the earnings release, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [6] Industry Context - The Mining - Non Ferrous industry, to which Lundin belongs, is currently ranked in the top 31% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

Industry Overview - The Zacks Mining - Non Ferrous industry is experiencing promising prospects due to rising metal prices and increasing demand for non-ferrous metals, particularly driven by the energy-transition trend [1][4] - The industry includes companies producing metals such as copper, gold, silver, cobalt, molybdenum, zinc, aluminum, and uranium, which are essential across various sectors [3] Market Dynamics - Silver prices surged by 170% in 2025, with an 8.6% increase so far this year, while gold prices are near $5,000 per ounce, reflecting a 15.3% gain this year [4] - Copper futures have risen by 24.2% over the past year, driven by high demand and expectations of tightening global supply [4] - Uranium prices recently retreated to $92 per pound after reaching a two-year high of $101.50, indicating fluctuations in supply expectations [4] Demand Drivers - The demand for non-ferrous metals is expected to remain high, particularly due to their applications in transportation, construction, and renewable energy sectors [6] - The U.S. Infrastructure Investment and Jobs Act is anticipated to drive significant demand for non-ferrous metals as infrastructure upgrades and green policies are implemented [6] Company Highlights - **Coeur Mining**: Revenues nearly doubled to $2.1 billion in 2025, with net income surging to $586 million. The company is set to acquire New Gold, creating a major North American mining entity [15] - **Southern Copper Corporation**: Reported record net sales of $13.4 billion in 2025, with plans to increase copper production to 1.6 million tons by 2033, supported by a $20.5 billion investment over the next decade [19] - **Freeport-McMoRan**: Positioned for growth with high-quality copper assets and ongoing expansions at existing operations, including a significant project in Peru [22] - **Lundin Mining**: Increased its copper mineral resources by 37% and forecasts strong production figures for 2026, aiming to become a top-ten global copper producer [24] Financial Performance - The Zacks Mining - Non Ferrous industry has outperformed the Zacks Basic Materials sector with a collective gain of 77.9% over the past year, compared to the sector's 43% [9] - The industry is currently trading at a trailing 12-month EV/EBITDA ratio of 16.95X, slightly below the S&P 500's 17.80X [10] Future Outlook - The Zacks Industry Rank for the Mining - Non Ferrous industry is 74, placing it in the top 30% of 243 Zacks industries, indicating strong near-term prospects [7]

分组1 - Coeur Mining reported quarterly earnings of $0.35 per share, missing the Zacks Consensus Estimate of $0.43 per share, but showing an increase from $0.11 per share a year ago, resulting in an earnings surprise of -18.61% [1] - The company posted revenues of $674.7 million for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 0.90%, and showing significant growth from year-ago revenues of $305.4 million [2] - Coeur Mining shares have increased approximately 22.3% since the beginning of the year, outperforming the S&P 500, which has shown a zero return [3] 分组2 - The current consensus EPS estimate for the upcoming quarter is $0.53 on revenues of $683.6 million, and for the current fiscal year, it is $1.99 on revenues of $2.69 billion [7] - The Mining - Non Ferrous industry, to which Coeur Mining belongs, is currently ranked in the top 32% of over 250 Zacks industries, indicating a favorable outlook for the sector [8] - Coeur Mining has a Zacks Rank of 1 (Strong Buy), suggesting that the stock is expected to outperform the market in the near future [6]

Core Insights - Freeport-McMoRan Inc. (FCX) reported better-than-expected financial results in Q4, driven by significant increases in copper and gold prices, although lower sales volumes negatively impacted performance [1][4] Sales Performance - Copper sales volumes decreased approximately 29% year-over-year to 709 million pounds, down from 977 million pounds in the previous quarter [1] - Gold sales volumes fell around 77% year-over-year, with only 80,000 ounces sold in Q4 [1] Operational Challenges - The decline in sales volumes was primarily due to the temporary suspension of operations at the Grasberg Block Cave mine in Indonesia following a mud rush incident in September 2025 [2][8] - FCX's outlook for Q1 2026 anticipates minimal contributions from Indonesian operations, projecting copper sales volumes of 640 million pounds, reflecting a 10% sequential and 27% year-over-year decline [3][8] Industry Comparison - Southern Copper Corporation (SCCO) reported a 2.8% increase in copper sales volumes year-over-year, selling 235,591 tons in Q4 [5] - BHP Group Limited (BHP) experienced a 2% year-over-year increase in copper sales, totaling approximately 504.5kt in Q2 of fiscal 2026 [6] Financial Metrics - FCX shares have increased by 55.3% over the past six months, compared to an 81.2% rise in the Zacks Mining - Non Ferrous industry [7] - The company is currently trading at a forward 12-month earnings multiple of 27.13, which is a 6.7% premium to the industry average of 25.43 [10] - The Zacks Consensus Estimate for FCX's earnings in 2026 and 2027 suggests year-over-year increases of 35.6% and 16.3%, respectively, with EPS estimates trending higher over the past 60 days [11]

Company Performance - Freeport-McMoRan (FCX) has gained approximately 24.6% year-to-date, outperforming the Basic Materials sector average gain of about 20.4% [4] - The Zacks Consensus Estimate for FCX's full-year earnings has increased by 24.8% in the past quarter, indicating improved analyst sentiment [4] - FCX currently holds a Zacks Rank of 2 (Buy), suggesting a positive outlook for the stock [3] Industry Comparison - Freeport-McMoRan is part of the Mining - Non Ferrous industry, which has seen an average gain of about 32.6% this year, indicating that FCX is slightly underperforming its industry [6] - Loop Industries, Inc. (LOOP), another stock in the Basic Materials sector, has returned 25% year-to-date and also holds a Zacks Rank of 2 (Buy) [5] - The Chemical - Specialty industry, to which Loop Industries belongs, has gained 11.8% this year, ranking 181 among 43 industries [7]

Core Insights - Ero Copper Corp. (ERO) has outperformed the Zacks Mining-Non Ferrous industry and the S&P 500 over the past year, with a 135.3% increase compared to the industry's 90.9% and the S&P 500's 17.7% [1] - ERO's peers, Freeport-McMoRan, Inc. (FCX) and Southern Copper Corp. (SCCO), have seen increases of 66.7% and 111% respectively in the same timeframe [1] Operational Performance - Ero Copper achieved record Q4 production of 19,706 tons of copper in concentrate, with significant contributions from its Caraíba Operations and the newly ramped-up Tucumã Operation [7][8] - The company reported a 15% increase in mill throughput from the previous quarter, although costs were slightly pressured by lower mined grades [8] - The Tucumã Operation contributed 9,275 tons of copper, with processing rates and plant throughput improving by approximately 22% sequentially [9] Financial Strength - Ero Copper ended Q3 2025 with $66.3 million in cash and cash equivalents, a 230% year-over-year improvement, and a total liquidity of roughly $111 million [10] - Cash flow from operating activities reached approximately $110.3 million during the quarter, a significant increase from $53 million year-over-year, resulting in free cash flow of $34 million [11] Growth Strategy - Ero Copper's growth strategy focuses on enhancing its Brazilian asset base through new capacity commissioning, existing mine development, and mechanization [12] - Investments at the Caraíba Operations include underground development and a new external shaft at the Pilar Mine, expected to improve access to higher-grade ore zones by 2027 [13] - The company is also advancing the Furnas Copper-Gold Project to potentially add another significant copper and gold source [14] Earnings Estimates - The Zacks Consensus Estimate for ERO's fiscal 2025 earnings is $2.13 per share, indicating a year-over-year growth of 173.1%, while 2026 estimates suggest earnings of $4.29 per share, reflecting 101.2% growth [17][18] Valuation - ERO is currently trading at a forward 12-month price-to-earnings multiple of 3.09X, which is below the peer group average of 5.32X [19] - Both ERO and FCX have a Value Score of B, while SCCO has a score of D [21] Investment Outlook - Ero Copper's record production and operational efficiency are driving healthy cash generation and consistent free cash flow [22] - The company's strong liquidity position and low leverage provide flexibility for expansion, reducing risk while supporting growth [22] - Despite its momentum, ERO remains attractively valued relative to its rising output and long-term earnings potential, making it a compelling investment opportunity [22][23]

分组1 - First Quantum Minerals reported quarterly earnings of $0.01 per share, missing the Zacks Consensus Estimate of $0.06 per share, representing an earnings surprise of -84.45% [1] - The company posted revenues of $1.48 billion for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 6.51%, compared to year-ago revenues of $1.26 billion [2] - The stock has gained approximately 6.4% since the beginning of the year, outperforming the S&P 500's gain of 1.7% [3] 分组2 - The current consensus EPS estimate for the upcoming quarter is $0.12 on revenues of $1.49 billion, and for the current fiscal year, it is $0.88 on revenues of $6.22 billion [7] - The Mining - Non Ferrous industry is currently in the top 10% of over 250 Zacks industries, indicating a favorable outlook for the sector [8] - Lundin Mining, another company in the same industry, is expected to report quarterly earnings of $0.28 per share, reflecting a year-over-year change of +133.3% [9]

Core Viewpoint - Ero Copper Corp. is expected to show significant growth in its upcoming earnings report, with a notable increase in both EPS and revenue compared to the previous year [2][3]. Group 1: Recent Performance - Ero Copper Corp. closed at $30.98, reflecting a decrease of 2.49% from the previous day, underperforming the S&P 500's loss of 0.33% [1] - Over the past month, the company's shares gained 2.38%, which is lower than the Basic Materials sector's gain of 11.52% [1]. Group 2: Earnings Forecast - The upcoming earnings report is scheduled for March 5, 2026, with an expected EPS of $1.02, indicating a 500% increase from the same quarter last year [2]. - Revenue is forecasted to reach $293.5 million, representing a 139.59% increase compared to the year-ago quarter [2]. Group 3: Full Year Estimates - For the full year, earnings are projected at $2.13 per share, showing a growth of 173.08% from the previous year [3]. - Revenue for the full year is estimated at $780.3 million, reflecting a 65.95% increase from the prior year [3]. Group 4: Analyst Estimates and Rankings - Recent modifications to analyst estimates indicate a positive outlook for Ero Copper Corp., with a Zacks Rank of 2 (Buy) [4][6]. - The Zacks Consensus EPS estimate has increased by 13.65% in the past month, suggesting optimism about the company's near-term performance [6]. Group 5: Valuation Metrics - Ero Copper Corp. has a Forward P/E ratio of 7.41, significantly lower than the industry average of 29.67, indicating it is trading at a discount [7]. - The Mining - Non Ferrous industry, to which Ero Copper belongs, ranks in the top 10% of over 250 industries according to the Zacks Industry Rank [7].

Core Insights - Centrus Energy Corp. reported quarterly earnings of $0.79 per share, missing the Zacks Consensus Estimate of $1.42 per share, and down from $3.2 per share a year ago, representing an earnings surprise of -44.52% [1] - The company posted revenues of $146.2 million for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 0.55%, but down from $151.6 million year-over-year [2] - Centrus Energy shares have increased by approximately 13.8% since the beginning of the year, outperforming the S&P 500's gain of 1.7% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.60 on revenues of $72.51 million, and for the current fiscal year, it is $3.87 on revenues of $482.5 million [7] - The estimate revisions trend for Centrus Energy was favorable ahead of the earnings release, resulting in a Zacks Rank 1 (Strong Buy) for the stock, indicating expected outperformance in the near future [6] Industry Context - The Mining - Non Ferrous industry, to which Centrus Energy belongs, is currently in the top 10% of over 250 Zacks industries, suggesting a positive outlook for stocks within this sector [8] - Another company in the same industry, Energy Fuels, is expected to report a quarterly loss of $0.07 per share, with a year-over-year change of +63.2%, and revenues expected to be $27 million, down 32.4% from the previous year [9]

Company Performance - Energy Fuels (UUUU) closed at $21.74, reflecting a -5.91% change from the previous day, underperforming the S&P 500 which had a loss of 0.33% [1] - Over the past month, Energy Fuels' shares increased by 19.94%, outperforming the Basic Materials sector's gain of 11.52% and the S&P 500's unchanged performance [1] Earnings Expectations - Analysts anticipate Energy Fuels will report earnings of -$0.07 per share, indicating a year-over-year growth of 63.16% [2] - Revenue is expected to be $27 million, which represents a decline of 32.36% compared to the same quarter last year [2] Fiscal Year Projections - For the entire fiscal year, earnings are projected at -$0.34 per share and revenue at $56.03 million, reflecting changes of -21.43% and -28.27% respectively from the previous year [3] - Recent revisions to analyst forecasts are crucial as they indicate near-term business trends and can reflect analyst optimism regarding profitability [3] Industry Context - The Mining - Non Ferrous industry, which includes Energy Fuels, is part of the Basic Materials sector and holds a Zacks Industry Rank of 24, placing it in the top 10% of over 250 industries [6] - The Zacks Industry Rank is based on the average Zacks Rank of individual stocks within the industry, with top-rated industries outperforming lower-rated ones by a factor of 2 to 1 [6]