Ero Copper (ERO)
Operates Brazilian copper mines and an underground gold mine.
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Operates the Caraíba and Tucumã copper operations and the Xavantina underground gold mine in Brazil. Its operating base was assembled through the acquisition of MCSA and NX Gold, with a Furnas copper-gold earn-in extending the portfolio.
Operates the Caraíba copper complex in Bahia, the open-pit Tucumã copper operation in Pará, and the Xavantina underground gold mine in Mato Grosso. Caraíba and Tucumã form the copper business, while Xavantina provides a separate gold operation. An earn-in agreement with Vale Base Metals covers a potential interest in the Furnas Copper-Gold Project.
The operating platform was assembled through the acquisition of MCSA and NX Gold and has since added Vermelhos and Tucumã. Operations are concentrated in Brazil, so the business depends on its Brazilian mines, workforce and operating environment. Tucumã recently reached commercial production, making its ramp-up a current operating transition.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 2, 2026 | Bradesco | Downgrade | ||
| Jul 19, 2026 | Bradesco | Upgrade | Rating: — | |
| Jul 16, 2026 | B of A Securities | Upgrade | ||
| Apr 14, 2026 | Goldman Sachs | Downgrade | ||
| Apr 13, 2026 | Goldman Sachs | Target | Target: $33 | Target: $31 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $101.7M · Total debt $573.4M · Total assets $2.16B · Shareholders' equity $1.21B
- Revenue
- $284.3M
- Operating income
- $107.0M
- Net income
- $89.5M
No dividends on record.
| Institutions | ≈ 65.45% | 68.25M ADS | |
|---|---|---|---|
| 232 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 5.93% | 6.18M ADS | |
| 1 holder · as of Feb 11, 2022 | |||
| Strategic holders | 4.73% | 4.93M ADS | |
| 1 holder · as of Sep 8, 2022 | |||
| Other | ≈ 23.89% | 24.91M ADS | |
| remainder | |||
104.28M ADS as of Aug 30, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
The share count is from the company's Dec 2024 annual report; nothing newer is on file here.
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
FIL LtdInstitution | 8.94% | 9.32M ADS | as of Jun 30, 2026 |
David StrangInsider | 5.93% | 6.18M | filed Feb 11, 2022 |
BlackRock, Inc.Strategic | 4.73% | 4.93M | filed Sep 8, 2022 |
Mirae Asset Global Etfs Holdings Ltd.Institution | 4.58% | 4.77M ADS | as of Jun 30, 2026 |
FMR LLCInstitution | 4.30% | 4.49M ADS | as of Jun 30, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
- Vale (ADR)
Brazilian copper producer with Salobo and Sossego
- Freeport-McMoRan
Global producer of copper concentrate and gold
- Aura Minerals
Brazil-focused gold producer with multiple operating mines
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Ero Copper | $36.66 | +5.65% | $3.62B | 11.7 | 8.2 | 3.5 | +73.9% |
| Vale (ADR) | $14.06 | −0.67% | $60.34B | 29.5 | 7.8 | 1.5 | +19.2% |
| Freeport-McMoRan | $73.64 | +2.04% | $103.69B | 35.4 | 20.6 | 4.0 | −7.3% |
| Aura Minerals | $89.42 | +0.30% | $7.47B | 25.1 | 13.4 | 5.8 | +76.4% |
| Median | 29.5 | 13.4 | 4.0 | +19.2% |