Ero Copper Set for Q2 Rebound Amid Tightening Copper Markets

Ero Copper is set to report its second-quarter earnings on Wednesday after market close. Analysts expect the Vancouver-based company to post earnings of 82 cents a share and revenue of $281.6 million, representing year-over-year gains of 20% and 72%, respectively.

The company has drawn renewed interest from analysts, with BofA Securities upgrading Ero to Buy from Hold on July 16, raising its price target to $34 from $30, implying 17% upside from current levels.

Ero operates two copper mines in Brazil and is advancing the Furnas copper-gold project through an earn-in agreement with Vale Base Metals. The company trades at a forward price-to-earnings ratio of 9.7 times, below its trailing multiple of 10.4 times.