Here's Why Ero Copper Corp. (ERO) Fell More Than Broader Market
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Ero Copper Corp. (ERO) ended the recent trading session at $15.03, demonstrating a -4.08% change from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily loss of 1.13%. Elsewhere, the Dow saw a downswing of 1.79%, while the tech-heavy Nasdaq depreciated by 1.3%. Heading into today, shares of the company had gained 15.05% over the past month, outpacing the Basic Materials sector's gain of 4.24% and the S&P 500's gain of 3.55%.Investors will be eagerly watching for the performance of Ero Copper Corp. in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.51, marking a 183.33% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $195 million, reflecting a 66.52% rise from the equivalent quarter last year. Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.07 per share and revenue of $826 million. These totals would mark changes of +165.38% and +75.67%, respectively, from last year. Investors should also note any recent changes to analyst estimates for Ero Copper Corp. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook. Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system. The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 2.91% upward. Ero Copper Corp. is currently a Zacks Rank #3 (Hold). Valuation is also important, so investors should note that Ero Copper Corp. has a Forward P/E ratio of 7.58 right now. Its industry sports an average Forward P/E of 23.45, so one might conclude that Ero Copper Corp. is trading at a discount comparatively. The Mining - Non Ferrous industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 63, finds itself in the top 26% echelons of all 250+ industries. The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. To follow ERO in the coming trading sessions, be sure to utilize Zacks.com. 7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.5% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Ero Copper Corp. (ERO): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks
Quelle: Zacks