Ero Copper Corp. (ERO) ended the recent trading session at $19.49, demonstrating a -1.47% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 0.92%. Elsewhere, the Dow lost 0.96%, while the tech-heavy Nasdaq lost 1.6%.
The company's shares have seen a decrease of 12.59% over the last month, not keeping up with the Basic Materials sector's gain of 1.26% and the S&P 500's gain of 2.68%.
The investment community will be paying close attention to the earnings performance of Ero Copper Corp. in its upcoming release. The company is slated to reveal its earnings on November 5, 2024. The company's earnings per share (EPS) are projected to be $0.27, reflecting a 50% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $148.8 million, indicating a 41.44% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.27 per share and a revenue of $605.72 million, representing changes of +45.98% and +41.68%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Ero Copper Corp. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 30.75% lower. As of now, Ero Copper Corp. holds a Zacks Rank of #3 (Hold).
From a valuation perspective, Ero Copper Corp. is currently exchanging hands at a Forward P/E ratio of 15.53. For comparison, its industry has an average Forward P/E of 25.26, which means Ero Copper Corp. is trading at a discount to the group.
The Mining - Non Ferrous industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 47, placing it within the top 19% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Ero Copper Corp. (ERO) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.