The Globe and Mail reports in its Thursday edition that National Bank Financial analysts Shane Nagle and Rabi Nizami think copper price tailwinds are likely to support the first quarter financial results for producers "ahead of recent volatility." The Globe's David Leeder writes that the RBC analysts, citing "increased uncertainty from the impact of tariffs on the global economy/copper consumption," lowered their valuation multiples for stocks in their coverage universe on Wednesday, remaining "cautious on the near-term supply/demand outlook for 2025 with expected deferral of growth projects to offer fundamental long-term support." Accordingly, Mr. Nagle gave his Ero Copper share target a $2 trim to $21.50. He continues to rate Ero Copper "sector perform." Analysts on average target the shares at $24.50. Mr. Nagle says in a note: "We continue to account for ramp-up challenges throughout H1/25 at Tucuma. We continue to see risks to 2025 consolidated production guidance and projected FCF inflection without further confirmation that the operation's commissioning challenges are fully resolved." The Globe reported on Feb. 4 and Feb. 13 that Mr. Nagle rated Ero Copper "sector perform." It was then worth $18.85 and $18.82.