10:32 AM EST, 03/08/2024 (MT Newswires) -- National Bank of Canada said Friday that Ero Copper Corp. ( ERO ) 's adjusted EPS of US$0.21 in the in the fourth quarter of 2023 beat the bank's forecast of US$0.16 but missed the consensus estimate of US$0.24.

Adjusted EBITDA of US$50.3 million aligned with the bank's projection of US$49.8 million but was below the consensus forecast of US$53.2 million.

National Bank expects Ero Copper's ( ERO ) shares to trade slightly behind peers today as production was prereleased and financials were slightly below consensus estimates.

The bank gave Ero a sector perform rating with a $24.00 price target.

"Our sector perform rating considers Ero's near-term growth profile, incremental exploration potential and nearterm expansion opportunities offset by near-term operating cost pressures and a premium valuation," the bank said.

Price: 23.10, Change: -0.44, Percent Change: -1.87