Ero Copper Corp

ERO

Equity

ISIN CA2960061091 / Valor 38252813

Toronto Stock Exchange (2024-12-27)

CAD 19.25-0.93%

Ero Copper Corp
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About company

Ero Copper Corp is a mining company that focuses on the exploration, development, and production of copper in Brazil.

Summarized from source with an LLMView SourceSector: Non-Energy Materials

Revenue and Gross Profit

Ero Copper Corp's second quarter 2024 financial results were bolstered by stronger metal prices and a favorable exchange rate environment. This contributed to another quarter of record gross profit at the Xavantina Operations. The company reported revenues of $117.1 million for Q2 2024, reflecting a significant increase compared to previous quarters.

Net Loss and Adjusted Net Income

Despite the strong revenue performance, Ero Copper Corp reported a net loss attributable to the owners of the company of $53.2 million, or $0.52 per share on a diluted basis for Q2 2024. However, the adjusted net income attributable to the owners of the company was $18.6 million, or $0.18 per share on a diluted basis, indicating a more favorable underlying performance when excluding certain items.

EBITDA and Adjusted EBITDA

For the second quarter of 2024, Ero Copper Corp reported an EBITDA of $43.3 million. The adjusted EBITDA, which excludes certain non-recurring items, was $51.5 million. This adjusted figure highlights the company's strong operational performance during the quarter.

Liquidity Position

As of the end of Q2 2024, Ero Copper Corp had available liquidity of $169.8 million. This includes $44.8 million in cash and cash equivalents, $100.0 million of undrawn availability under the company's senior secured revolving credit facility, and $25.0 million of undrawn availability under the copper prepayment facility entered into in May 2024.

Production and Cost Guidance

Ero Copper Corp is reaffirming its full-year production and copper cash cost guidance for 2024. The company expects consolidated copper production to be between 59,000 to 72,000 tonnes in concentrate, with production weighted towards the second half of the year due to the ramp-up at the Tucumã Project. Additionally, the company has lowered its gold cost guidance, with full-year gold C1 cash cost now expected to be $450 to $550 per ounce, and AISC guidance reduced to $900 to $1,000 per ounce.

Summarized from source with an LLMView Source

Key figures

-11.8%1Y

0.10%3Y

-17.9%5Y

Performance

45.5%1Y

51.9%3Y

54.3%5Y

Volatility