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ERO · NYSE · Copper

Ero Copper

Operates Brazilian copper mines and an underground gold mine.

$38.45

After-hours close−0.38 (−0.97%)

At close$38.83(−2.50%)

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Profile

Ero Copper Corp.EROMaterials

Operates the Caraíba and Tucumã copper operations and the Xavantina underground gold mine in Brazil. Its operating base was assembled through the acquisition of MCSA and NX Gold, with a Furnas copper-gold earn-in extending the portfolio.

Operates the Caraíba copper complex in Bahia, the open-pit Tucumã copper operation in Pará, and the Xavantina underground gold mine in Mato Grosso. Caraíba and Tucumã form the copper business, while Xavantina provides a separate gold operation. An earn-in agreement with Vale Base Metals covers a potential interest in the Furnas Copper-Gold Project.

The operating platform was assembled through the acquisition of MCSA and NX Gold and has since added Vermelhos and Tucumã. Operations are concentrated in Brazil, so the business depends on its Brazilian mines, workforce and operating environment. Tucumã recently reached commercial production, making its ramp-up a current operating transition.

Company facts

CEOMakko DeFilippo

ListedOct 20, 2017

ExchangeNYSE

HeadquartersVancouver, Canada

CountryCanada

Employees3,547

CIK0001853860

ISINCA2960061091

Key statistics

Market cap$4.05B

EPS (ttm)$2.96

P/E (ttm)13.12

ROE30.1%

P/B3.34

P/S3.87

Dividend yield—

Beta2.34vs XLB 1.21

Year to date +33.6% · Average volume (30d) 1.4M

Analysts

Price target, next 12 months$31.00−20.2%Median of 4 analysts · vs the Aug 28 close

ConsensusBuy2 of 4 analysts rate it buy or better

Ratings

Strong buyBuyHoldSellStrong sell

Target range

Last close $38.83

High$31.00−20.2%

Median$31.00−20.2%

Low$31.00−20.2%

12 months agoNowIn 12 months

Latest analyst notes

Date	Firm	Action	Prior rating	Rating	Prior target	Target
Jul 19, 2026	Bradesco	Upgrade		Outperform
Jul 16, 2026	B of A Securities	Upgrade	Neutral	Buy
Apr 14, 2026	Goldman Sachs	Downgrade	Buy	Neutral
Apr 13, 2026	Goldman Sachs	Target			$33	$31
Jan 14, 2026	Goldman Sachs	Reiterate		Buy	$25	$33

Earnings

EPS

Estimate$1.14

ReportedDue Nov 3, 2026

Revenue

Estimate$357.3M

ReportedDue Nov 3, 2026

History

Report date	EPS est	EPS	Surprise	Revenue est	Revenue	Surprise	Next session
Aug 5, 2026Q2 FY26	$0.74	$0.83	+12.6%	$277.6M	$284.3M	+2.4%	+2.20%
May 4, 2026Q1 FY26	$0.56	$0.69	+23.2%	$245.5M	$263.2M	+7.2%	+5.56%
Mar 5, 2026Q4 FY25	$1.06	$1.04	−1.9%	$309.0M	$320.2M	+3.6%	−4.01%
Nov 4, 2025Q3 FY25	$0.36	$0.27	−25.0%	$446.6M	$177.1M	−60.3%	+3.87%

View details

Financial highlights

	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26
Revenue	$125.1M	$163.5M	$177.1M	$325.1M	$259.5M	$284.3M
Gross profit	$55.5M	$67.3M	$58.5M	$165.6M	$103.3M	$121.4M
Operating income	$42.1M	$48.0M	$38.1M	$142.8M	$90.2M	$107.0M
Net income	$80.2M	$70.5M	$36.0M	$78.2M	$107.3M	$89.5M
Diluted EPS	$0.77	$0.68	$0.34	$0.75	$1.02	$0.85
Gross margin	44.4%	41.2%	33.0%	50.9%	39.8%	42.7%
Operating margin	33.7%	29.3%	21.5%	43.9%	34.7%	37.6%

Fiscal years (4-quarter sums)FY21 $488.6M · FY22 $422.1M · FY23 $428.9M · FY24 $470.3M · FY25 $790.8M

Balance sheet, Jun 30, 2026Cash & short-term investments $101.7M · Total debt $573.4M · Total assets $2.16B · Shareholders' equity $1.21B

Dividends

No dividends on record.

Ownership

Institutions 67.16%Insiders —

Shares outstanding 104.28M · Float 101.72M · 97.6% free float

Top shareholders13F · 13D/G · Form 4

Holder	Shares	% outstanding	Form	Filed
FIL Ltd	9.32M	8.94%	13F	Aug 13, 2026
Mirae Asset Global Etfs Holdings Ltd.	4.77M	4.58%	13F	Aug 14, 2026
FMR LLC	4.49M	4.30%	13F	Aug 13, 2026
Invesco Ltd.	4.09M	3.92%	13F	Aug 14, 2026
Vanguard Capital Management LLC	2.97M	2.85%	13F	Aug 13, 2026

Insider tradesForm 4

Nothing filed in the last 12 months.