Ero Copper Corp.

Ero Copper currently trades at a trailing P/E of just 10.4×—a discount to most of its peers. Setbacks and temporarily inflated gold earnings help explain why. Ero's underlying business is improving—copper production is expected to grow approximately 32% by 2028, while declining debt, operational improvements, and cost savings strengthen Ero's position. Significant copper production growth is forecast, with 2028 guidance targeting 80,000–90,000 tonnes, and free cash flow is highly sensitive to copper prices and capex discipline.

Ero Copper NYSE: ERO reported record third-quarter financial results as higher copper and gold sales volumes, stronger metal prices and increased throughput supported cash flow and debt reduction. The company said it remains on track to meet full-year copper production guidance and now expects record annual gold output from its Xavantina operation.

Ero Copper Corp. ( ERO:CA ) Q3 2026 Earnings Call November 3, 2026 10:30 AM EST Company Participants Farooq Hamed - Vice President of Investor Relations Makko Defilippo - President, CEO & Director Gelson Batista - Executive VP & COO Wayne Drier - Executive VP & CFO Conference Call Participants Fahad Tariq - Jefferies LLC, Research Division Orest Wowkodaw - Scotiabank Global Banking and Markets, Research Division Guilherme Rosito - BofA Securities, Research Division Matheus Moreira - Banco Bradesco BBI S.A., Research Division Ricardo Monegaglia Neto - J.

The Tucumã mine ramp-up successfully transformed the company into a high-margin copper producer. Operational success is tempered by sensitivity to global copper prices and regional currency fluctuations.