The Globe and Mail reports in its Friday, Nov. 7, edition that National Bank Financial analyst Shane Nagle is keeping his "sector perform" call on Ero Copper intact. The Globe's David Leeder writes in the Eye On Equities column that Mr. Nagle gave his share target a $2 boost to $37. Analysts on average target the shares at $33.07. Mr. Nagle says in a note: "Cash flow multiples appear more attractive after accounting for incremental gold concentrate sales out of Xavantina; however, the market will need to see evidence of an operational turnaround in Q4, given challenges to date and production below the low end of recently revised guidance. We remain cautious on the long-term outlook for the company given a premium P/NAV valuation of 1.18 times (peers: 1.0 times) and declining production profile from existing operations beginning in H2/27 as grades decline at Tucuma. We remain conservative on our 2026 operating assumption, but mention that management noted positive operational momentum after implementation of processing improvements across all of Ero's operations." The Globe reported on July 10 that Mr. Nagle had lowered his recommendation for Ero Copper to "sector perform" from "outperform." It was then worth $19.51.