Ero Copper Q2 revenue beats estimates, reaffirms 2026 copper production guidance
ERO•Analyst coverage and valuation
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell".
The average consensus recommendation for the specialty mining & metals peer group is "buy".
Wall Street's median 12-month price target for Ero Copper Corp. is C$50.00, about 22.5% above its August 4 closing price of C$40.82.
The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 7 three months ago.
Q2 results beat on revenue, miss on adjusted EBITDA
Canada copper and gold miner's Q2 revenue beat analyst expectations, while adjusted EBITDA for Q2 missed analyst estimates.
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | Beat | $284.3 mln | $276.33 mln (3 Analysts) |
| Q2 Adjusted Net Income | $87.4 mln | ||
| Q2 Net Income | $90.7 mln | ||
| Q2 Adjusted EBITDA | Miss | $144 mln | $155.57 mln (6 Analysts) |
| Q2 Cash Flow from Operations | $137.9 mln |
Quarterly drivers included higher gold output and operational improvements
- Higher gold output - Gold production at Xavantina rose 170% quarter-on-quarter, driven by improved mining rates and increased recovery from historic concentrate stockpiles.
