Q: Stock has been experiencing a steady drop in valuation, would you be able to provide any insight?
Really appreciate all your great advice. Ted.
Really appreciate all your great advice. Ted.
5i Research Answer:
Recent news from ERO has actually been fairly positive. The company recently reported an increase in reserves and resources at its Xavantina gold operations in Brazil. Goldman initiated coverage on it at a 'buy.' Q3 results in November beat EPS estimates but missed on revenue. The weakness is more so surrounding the copper market as the commodity prices have largely dropped from their May highs. At just 5x forward earnings we think this is an interesting entry point for ERO.