BUZZ-Raymond James raises PT on Ero Copper, sees strong Q4 and growth ahead
Raymond James raises Ero Copper's price target to C$40, indicating an 11.6% upside. The brokerage expects strong Q4 performance and growth through 2026. ERO is seen as a 'show me' story, with investors awaiting full mill ramp-up. Current valuation is considered good value. ERO's stock is up ~85% YTD, with nine of 15 analysts rating it 'buy' or higher.
Raymond James raises price target on Canadian copper miner Ero Copper (ERO.TO) to C$40 from C$33
The new price target represents an 11.6% upside to Canadian stock’s last close
Brokerage views the company to be well positioned to deliver a strong Q4, meet its 2025 forecast and deliver 2026⁄2025 production growth at all three of its operations
“While we continue to expect ERO to be a ‘show me’ story in the near term with investors looking for full ramp up of its mills, Tucuma and normalization of Caraiba and Xavantina, we believe the current valuation represents good value” - brokerage
Nine of 15 rate “buy” or higher, six “hold”; median PT is C$37 - data compiled by LSEG
As of last close, ERO up ~85% YTD
