The Globe and Mail reports in its Thursday, May 7, edition that National Bank Financial analyst Shane Nagle has elevated his recommendation for Ero Copper to "outperform" from "sector perform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Nagle continues to target the shares at $50. Analysts on average target the shares at $47.29. Mr. Nagle says in a note: "The company remains somewhat insulated from ongoing inflationary pressures driven by unrest in the Middle East as diesel prices are set in Brazil by Petrobras. Ero sees a modest five U.S. cents to 10 U.S.cent/lb impact to costs partially offset by higher by-product credits for the year (accounted for in NBCM Estimates). "Ero ended Q1/26 with $91.2-million (U.S.) in cash, working capital of $66.2-million (U.S.) and $542.7-million (U.S.) in long-term debt (ND/EBITDA of one times). The company has available liquidity of $146.2-million (U.S.), which includes $55-million (U.S.) of undrawn amounts under its Senior Secured revolving credit facility. We model leverage decreasing to below 0.5 times by Q4/26 driven by additional gold concentrate sales from Xavantina and continued ramp-up of Tucuma."