In the latest trading session, Ero Copper Corp. (ERO) closed at $34.19, marking a +2.03% move from the previous day. The stock outperformed the S&P 500, which registered a daily gain of 0.54%. On the other hand, the Dow registered a gain of 1.05%, and the technology-centric Nasdaq increased by 0.56%.
Coming into today, shares of the company had gained 15.35% in the past month. In that same time, the Basic Materials sector gained 7.23%, while the S&P 500 gained 0.74%.
Investors will be eagerly watching for the performance of Ero Copper Corp. in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.99, indicating a 482.35% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $347.9 million, up 184% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.99 per share and revenue of $786.55 million. These totals would mark changes of +155.13% and 0%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for Ero Copper Corp. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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. The Zacks Consensus EPS estimate has moved 6.28% higher within the past month. Ero Copper Corp. is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, Ero Copper Corp. is currently exchanging hands at a Forward P/E ratio of 8.34. This expresses a discount compared to the average Forward P/E of 28.49 of its industry.
The Mining - Non Ferrous industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 62, positioning it in the top 26% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Ero Copper Corp. (ERO): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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