The Globe and Mail reports in its Thursday, July 10, edition that Stifel analyst Ralph Profiti commenced coverage on Ero Copper with a "buy" recommendation. The Globe's David Leeder writes in the Eye On Equities column that Mr. Profiti continues to target the shares at $29. Analysts on average target the shares at $26.92. Mr. Profiti says in a note: "Ero Copper offers investors exposure to a high-margin, growth-oriented copper-gold producer with a strategic focus on Brazil and mid-tier target M&A appeal. Ero is positioned to deliver meaningful production growth through stabilized Caraíba operations post its mill expansion completed in Dec, 2023, as well as Tucuma ramp-up, which achieved commercial production on July 3, 2025. FY25 copper production guidance of 75-85Kt includes 37.5-42.5Kt from Caraíba plus 37.5-42.5Kt from Tucuma at C1 cash costs of $1.55–$1.80/lb and compares to FY24 of 40.6Kt at $1.84/lb, respectively, as well as Xavantina gold production of 50–60Koz at cash cost of $650-$800/oz and ASIC of $1,400–$1,600/oz. We expect Ero to prioritize stronger cash flow generation toward balance sheet deleveraging and transformational drilling at Furnas in partnership with Vale Base Metals."