Ero Copper Corp.

TSX:ERO Stock Report

Market Cap: CA$4.3b

Ero Copper Valuation

Is ERO undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of ERO when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: ERO (CA$41.24) is trading below our estimate of future cash flow value (CA$74.28)

Significantly Below Future Cash Flow Value: ERO is trading below future cash flow value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ERO?

Key metric: As ERO is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for ERO. This is calculated by dividing ERO's market cap by their current earnings.
What is ERO's PE Ratio?
PE Ratio22.7x
EarningsUS$137.81m
Market CapUS$3.13b

Price to Earnings Ratio vs Peers

How does ERO's PE Ratio compare to its peers?

The above table shows the PE ratio for ERO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average18.1x
CS Capstone Copper
25.1x22.87%CA$10.7b
III Imperial Metals
9.5xn/aCA$1.7b
LUN Lundin Mining
23.6x-10.17%CA$33.8b
FVI Fortuna Mining
14.1x20.24%CA$5.1b
ERO Ero Copper
22.7x14.77%CA$4.3b

Price-To-Earnings vs Peers: ERO is expensive based on its Price-To-Earnings Ratio (22.7x) compared to the peer average (18.1x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does ERO's PE Ratio compare vs other companies in the CA Metals and Mining Industry?

32 CompaniesPrice / EarningsEstimated GrowthMarket Cap
THX Thor Explorations
4.7x-11.92%US$769.68m
DC.A Dundee
3.2xn/aUS$294.68m
NIF.UN Noranda Income Fund
4.2xn/aUS$72.05m
SPOT EarthLabs
3xn/aUS$45.71m
ERO 22.7xIndustry Avg. 22.7xNo. of Companies32PE020406080100+
32 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ERO is expensive based on its Price-To-Earnings Ratio (22.7x) compared to the Canadian Metals and Mining industry average (22.7x).

Price to Earnings Ratio vs Fair Ratio

What is ERO's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ERO PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio22.7x
Fair PE Ratio20.1x

Price-To-Earnings vs Fair Ratio: ERO is expensive based on its Price-To-Earnings Ratio (22.7x) compared to the estimated Fair Price-To-Earnings Ratio (20.1x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst ERO forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCA$41.24
CA$46.33
+12.35%
15.70%CA$56.00CA$31.00n/a15
Feb ’27CA$45.68
CA$44.40
-2.80%
16.11%CA$56.00CA$31.00n/a15
Jan ’27CA$38.83
CA$37.90
-2.40%
10.97%CA$46.00CA$31.00n/a15
Dec ’26CA$35.85
CA$36.27
+1.16%
10.29%CA$46.00CA$31.00n/a15
Nov ’26CA$29.95
CA$33.93
+13.30%
10.18%CA$39.00CA$25.00n/a15
Oct ’26CA$28.83
CA$26.88
-6.78%
11.09%CA$33.00CA$22.50n/a14
Sep ’26CA$19.72
CA$25.66
+30.13%
9.71%CA$32.00CA$22.50n/a14
Aug ’26CA$18.51
CA$25.71
+38.92%
9.35%CA$32.00CA$22.50n/a14
Jul ’26CA$23.00
CA$26.31
+14.38%
12.49%CA$34.00CA$22.00n/a13
Jun ’26CA$19.38
CA$25.12
+29.59%
16.79%CA$34.00CA$18.00n/a13
May ’26CA$17.38
CA$24.38
+40.30%
17.33%CA$34.00CA$18.00n/a13
Apr ’26CA$17.62
CA$25.91
+47.04%
12.34%CA$34.00CA$22.00n/a11
Mar ’26CA$17.08
CA$27.00
+58.08%
17.71%CA$39.00CA$23.00n/a11
Feb ’26CA$19.46
CA$30.50
+56.73%
11.38%CA$38.00CA$26.00CA$45.6811
Jan ’26CA$19.38
CA$32.13
+65.76%
9.30%CA$38.00CA$27.00CA$38.8312
Dec ’25CA$21.39
CA$32.75
+53.11%
8.11%CA$38.00CA$27.00CA$35.8512
Nov ’25CA$25.74
CA$34.96
+35.81%
8.81%CA$40.00CA$30.00CA$29.9512
Oct ’25CA$30.35
CA$35.17
+15.87%
8.96%CA$40.00CA$30.00CA$28.8312
Sep ’25CA$27.71
CA$35.00
+26.31%
9.42%CA$40.00CA$30.00CA$19.7211
Aug ’25CA$25.96
CA$36.13
+39.16%
10.75%CA$43.00CA$31.00CA$18.5112
Jul ’25CA$29.24
CA$34.50
+17.99%
11.49%CA$41.00CA$29.00CA$23.0012
Jun ’25CA$29.02
CA$33.83
+16.59%
9.81%CA$40.00CA$30.00CA$19.3812
May ’25CA$28.12
CA$30.93
+10.00%
4.78%CA$34.00CA$28.50CA$17.3811
Apr ’25CA$26.12
CA$26.09
-0.11%
8.45%CA$32.00CA$23.50CA$17.6211
Mar ’25CA$24.07
CA$25.00
+3.86%
9.61%CA$32.00CA$23.00CA$17.0811
Feb ’25CA$21.94
CA$24.68
+12.50%
9.27%CA$30.00CA$22.00CA$19.4611
CA$46.33
Fair Value
11.0% undervalued intrinsic discount
15
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/02/22 10:38
End of Day Share Price 2026/02/20 00:00
Earnings2025/09/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Ero Copper Corp. is covered by 34 analysts. 11 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Stefan IoannouATB Cormark
Stefan IoannouATB Cormark Historical (Cormark Securities)
Matthew MurphyBarclays