ERO

Basic Materials

Ero Copper Corp. · Copper · $3B

UQS Score — Balanced Preset
63.2
Good

Ero Copper Corp. scores 63.2/100 using the Balanced preset.

UQS vs Basic Materials Sector
ERO
63.2
Sector avg
38.2
Quality
Good
Moat
Weak
Growth
Strong
Risk
Good
Valuation
Attractive

What is Ero Copper Corp.?

Ero Copper Corp. is a Canadian base metals mining company focused entirely on Brazil, where it operates copper-producing and development assets across multiple states. Its concentrated geographic focus sets it apart from more diversified global miners.

Ero Copper generates revenue primarily through the production and sale of copper concentrate from its MCSA Mining Complex in the Curaçá Valley of northeastern Bahia state. Gold and silver byproducts from the same complex contribute additional revenue. The company is also advancing the Boa Esperança copper development project in southeastern Pará state and holds the NX Gold property in Mato Grosso state, positioning itself for future production growth.

Incorporated in 2016 and headquartered in Vancouver, Canada, Ero Copper listed publicly in 2017.

  • Copper concentrate production from the MCSA Mining Complex
  • Gold and silver byproduct sales
  • Boa Esperança copper development project
  • NX Gold exploration property in Mato Grosso

Is ERO a Good Stock to Buy?

UQS Score rates ERO as Good overall, reflecting a balanced but opportunity-rich profile for investors watching the copper space.

The Growth pillar stands out as the clearest strength, supported by active project development and expanding production capacity in Brazil. The Risk and Quality pillars both register as Good, suggesting the business is being managed with reasonable financial discipline relative to its mining-sector peers.

The Moat pillar is rated Weak, which is common for commodity producers that lack pricing power and compete on cost rather than brand or proprietary technology.

See the exact pillar breakdown and full financial metrics by signing up for a UQS Pro account. Sign up free →

Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.

Does ERO pay dividends?

No — Ero Copper Corp. does not currently pay a dividend.

Ero Copper does not currently pay a dividend. For a growth-stage mining company actively developing new projects, retaining capital for exploration, construction, and operational ramp-up is a common and rational approach. Investors seeking income may want to look elsewhere, while those focused on production growth may find this reinvestment strategy aligned with their goals.

When does ERO report earnings?

Ero Copper reports earnings on a quarterly cadence, consistent with standard practice for TSX- and NYSE-listed mining companies.

The company's growth trajectory has been shaped by ongoing development at its Brazilian assets, with production volumes and project milestones driving quarterly narratives. Copper price movements and operational updates at the MCSA complex tend to be the focal points each reporting period.

For the most recent quarter's results and guidance updates, visit Ero Copper's investor relations page directly.

ERO Price History

+15.7% over 5Y

Monthly close, adjusted for stock splits and dividend reinvestment.

Return Calculator

What if I invested in Ero Copper Corp.?

$
Today it would be worth
$14,222
That's a +42.2% total return, or +7.3% annualized.

Based on Ero Copper Corp.'s historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.

ERO Long-term Outlook

Ero Copper's Strong Growth pillar reflects a meaningful pipeline of production expansion, anchored by the Boa Esperança development project and ongoing work at the MCSA complex. The Good Risk rating suggests the company is navigating execution and commodity-cycle risks at an above-average level for its peer group. Valuation is rated Attractive, which may indicate the market has not yet fully priced in the growth runway ahead.

Growth drivers

  • Ramp-up and commissioning of the Boa Esperança copper project in Pará state
  • Continued production optimization at the MCSA Mining Complex
  • Structural demand tailwinds for copper tied to electrification and energy transition

Key risks

  • Commodity price volatility — copper prices directly affect revenue and project economics
  • Single-country concentration in Brazil introduces political and regulatory exposure
  • Development-stage project execution risk at Boa Esperança

ERO vs Peers

Ero Copper operates in a competitive mid-tier copper mining landscape alongside several peers with overlapping investor audiences.

IE.TOERO scores higher
Ivanhoe Electric Inc.

Ivanhoe Electric combines copper exploration with proprietary geophysical technology, giving it a more technology-forward identity than pure-play producers like Ero.

TKO.TOERO scores higher
Taseko Mines Limited

Taseko operates primarily in British Columbia, Canada, offering investors a North American copper exposure in contrast to Ero's Brazil-only footprint.

TGBERO scores higher
Taseko Mines Limited

The US-listed shares of Taseko provide American market access to the same Canadian copper producer, appealing to investors who prefer NYSE-listed vehicles.

Frequently Asked Questions

What does Ero Copper Corp. do?

Ero Copper is a base metals mining company that explores, develops, and produces copper in Brazil. Its primary revenue comes from copper concentrate sales at the MCSA Mining Complex in Bahia state, with gold and silver byproducts adding supplementary income. It is also advancing the Boa Esperança copper project in Pará state.

Does ERO pay dividends?

No, Ero Copper does not currently pay a dividend. The company reinvests available capital into project development and production growth, which is typical for mining companies at this stage of their asset build-out.

When does ERO report earnings?

Ero Copper follows a standard quarterly reporting schedule. Exact dates vary each quarter, so investors should check the company's investor relations page or their brokerage platform for the most current schedule.

Is ERO a good stock to buy?

UQS Score rates ERO as Good overall. The Growth pillar is rated Strong and Valuation is Attractive, while the Moat pillar is Weak — a common trait for commodity producers. Whether it suits your portfolio depends on your risk tolerance and view on copper demand. The full pillar breakdown is available to Pro members.

Is ERO overvalued?

Based on the UQS framework, ERO's Valuation pillar is rated Attractive, suggesting the stock may be reasonably priced or even undervalued relative to its fundamentals and growth profile. Investors should review the complete valuation metrics available in the Pro analysis.

How does ERO compare to its competitors?

Ero Copper differentiates itself through its exclusive focus on Brazilian copper assets and a Strong Growth rating within the UQS framework. Peers like Taseko Mines offer North American copper exposure, while Ivanhoe Electric blends exploration with proprietary technology. Each carries a different risk and growth profile.

What is ERO's market cap bracket?

Ero Copper is classified as a mid-cap company. This places it above the smallest junior miners but below the major global diversified miners, making it a meaningful but still growth-oriented position in the copper sector.

Who founded Ero Copper Corp.?

Ero Copper was incorporated in 2016 and went public in 2017. Founding and leadership details are publicly available through the company's official filings and investor relations materials on its website.

Is ERO a long-term quality investment?

From a UQS quality-indicator perspective, ERO scores Good overall with a Strong Growth pillar and Attractive Valuation — both positive signals for long-term investors. The Weak Moat rating is a consideration, as commodity miners generally lack durable pricing power. Pro members can access the full long-term quality breakdown.

What is the main competitive advantage of Ero Copper?

Ero Copper's primary edge lies in its established, low-cost copper operations in the Curaçá Valley and its pipeline of development projects in Brazil. However, the UQS Moat pillar rates this advantage as Weak, reflecting the broader challenge commodity producers face in building durable competitive barriers.

What sector does ERO belong to?

Ero Copper belongs to the Basic Materials sector, specifically within base metals mining. The company's fortunes are closely tied to global copper demand, which is increasingly driven by electrification, renewable energy infrastructure, and electric vehicle adoption.

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Pro Analysis

ERO — Score History

5560657075Apr 2Apr 12Apr 22May 2May 12May 22May 24v5
Score changes· 21 most recent
DateUQSQualityMoatGrowthRiskValueChange
May 23, 202663.268.325.085.064.787.5+0.1
May 21, 202663.168.425.085.064.787.0-0.2
May 20, 202663.368.625.085.064.787.7+0.9
May 14, 202662.467.425.085.064.784.1-0.3
May 12, 202662.767.825.085.064.785.50.0
May 7, 202662.766.625.085.063.788.0-0.1
May 3, 202662.866.625.085.063.789.1+0.2
Apr 26, 202662.666.625.085.063.787.8+0.1
Apr 25, 202662.566.625.085.063.787.3-0.1
Apr 23, 202662.666.525.085.063.787.7+0.1

ERO — Pillar Breakdown

Quality

68.3/100 (25%)

Ero Copper Corp. shows solid profitability with healthy returns on capital and reasonable margins.

Capital Efficiency (ROIC)Moderate

How effectively capital is deployed to generate returns.

Return on EquityStrong

Profitability relative to shareholders' equity.

Operating ProfitabilityStrong

Ability to convert revenue into operating profit.

Net ProfitabilityStrong

Bottom-line profit as a share of revenue.

Gross Profit / AssetsModerate

Asset productivity — how much gross profit each dollar of assets generates.

Cash GenerationModerate

Free cash flow relative to market value.

Growth

85.0/100 (20%)

Ero Copper Corp. is growing rapidly with strong revenue and earnings expansion.

Recent Revenue TrendStrong

Revenue trajectory over the last twelve months.

3Y Revenue CAGRStrong

Compound annual revenue growth rate over 3 years.

EPS GrowthStrong

Year-over-year earnings per share growth.

Forward Revenue OutlookStrong

Analyst consensus for future revenue growth.

Forward EPS GrowthStrong

Analyst consensus for future earnings growth.

Risk

64.7/100 (15%)

Ero Copper Corp. maintains a reasonable risk profile with manageable debt levels.

Financial LeverageModerate

Debt levels relative to earnings capacity.

Debt/EquityStrong

Total debt relative to shareholder equity.

Current RatioWeak

Short-term liquidity — ability to pay near-term obligations.

Interest CoverageStrong

Earnings capacity relative to interest payments.

Valuation

87.5/100 (15%)

Ero Copper Corp. appears attractively valued relative to its earnings, cash flows, and sector peers.

Earnings YieldStrong

Inverse of forward P/E — higher yield means cheaper stock.

Price to Free Cash FlowModerate

How many years of FCF the market cap represents.

PEG RatioStrong

P/E relative to earnings growth — lower is more attractive.

EV/EBITDA vs SectorStrong

Enterprise value multiple relative to sector median.

Moat

25/100 (25%)

Ero Copper Corp. operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for ERO.

Score Composition

Quality
68.3×25%17.1
Growth
85.0×20%17.0
Risk
64.7×15%9.7
Valuation
87.5×15%13.1
Moat
25.0×25%6.3
Total
63.2Good

Financial Data

More Stock Analysis

How is the ERO UQS Score Calculated?

The UQS (Unified Quality Score) for Ero Copper Corp. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.

Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.

Moat (25%) assesses Ero Copper Corp.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.

Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.

Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.

Valuation (15%) measures whether Ero Copper Corp. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.

Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.