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Another little haircut
National Bank Financial took a fresh pass at Ero Copper and trimmed its price target to C$50 from C$53.50, while keeping a Sector Perform rating. Translation: the bank still sees the story as investable, just not exactly on a rocket-fuel trajectory.
The analyst crowd is still split at the dinner table
The broader Street picture is still mixed but leaning constructive. The consensus target sits around C$43.50, with analysts split between 2 Strong Buy, 4 Buy, and 10 Hold calls. In other words, Ero Copper is not the market’s darling, but it’s also not being sent to the penalty box.
Why investors care
The stock was trading around C$40.70, so the new target still leaves room for upside — just not a ton of it. That matters because price-target changes often act like a vibe check on a stock: not a full thesis rewrite, but a signal that expectations are getting adjusted to the current reality.
The backdrop
Ero Copper also recently reported quarterly EPS of C$1.43 on revenue of C$430.18 million, so this isn’t happening in a vacuum. When analysts start nudging targets around after earnings, it usually means they’re trying to reconcile operating performance, commodity prices, and what the next stretch of the mining cycle might look like.
Big picture: Ero Copper still has believers, but this note says the upside story is looking a little less glossy than it did a few weeks ago.