Ero Copper Update: Raising Price Target

Increases in copper & gold prices and a new mine coming online merit a rerate of the stock

Introduction

I published my first report on Ero Copper on February the 29^th, since then the stock has gone up 39.92%. Ero released its results for Q1 2024 on May the 7^th, I apologize for not doing an update earlier, I am working on the gold report nonstop. In fact, today´s update will be short, unlike my first update on Ero.

I listened to the conference call for investors that Ero held with analysts. It was positive to see that none of the analysts were concerned with the net income loss. In fact, through their questions I inferred that they have a very long-term vision on Ero, since most of the questions were about the new Tucuma project, nickel exploration, the gold mine and copper mine expansions.