Ero Copper Corp. ( (ERO) ) has released its Q3 earnings. Here is a breakdown of the information Ero Copper Corp. presented to its investors.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Ero Copper Corp. is a high-margin, high-growth copper producer operating in Brazil, with its headquarters in Vancouver, Canada. The company primarily engages in copper mining but also produces gold and silver, with key operations in the Caraíba and Tucumã mines in Brazil.
In its third quarter of 2024, Ero Copper Corp. reported notable operational achievements including the first production of saleable copper concentrate at the Tucumã Operation. Despite facing operational challenges like power disruptions, the company achieved consolidated copper production of 10,759 tonnes and gold production of 13,485 ounces.
Key financial highlights from the quarter include a net income of $40.9 million and an adjusted EBITDA of $62.2 million. The company maintained a strong liquidity position with $125.2 million available at the end of the quarter. Ero Copper also entered into gold collar contracts to hedge a significant portion of its 2025 gold production.
Looking ahead, Ero Copper has updated its copper production guidance to 43,000 to 48,000 tonnes due to delays in the Tucumã ramp-up, while reaffirming its full-year gold production guidance. Despite some operational headwinds, the company remains optimistic about its future performance, aiming for significant value creation in 2025.
Ero Copper’s management remains focused on overcoming current challenges and expects the upcoming year to be their best yet, supported by improved operational efficiencies and strategic initiatives.
