The Globe and Mail reports in its Saturday edition that Stifel analyst Alex Terentiew thinks "the world needs more copper to meet its demand growth aspirations." The Globe's David Leeder writes that Mr. Terentiew says, "Despite indications globally of slowing industrial activity and declining investor sentiment, copper prices have held ground, down 1 per cent year-to-date, solidly outperforming most other industrial commodities." Mr. Terentiew resumed coverage on Ero Copper with a "hold" recommendation and $30 share target. Analysts on average target the shares at $28.36. Mr. Terentiew says in a note: "Ero Copper is the lowest cost, highest margin producer in our coverage, despite spending on its Tucuma copper project, which will start production next year and double the company's copper production. Beyond 2025, however, we forecast a declining production profile that may be filled by successful exploration on its promising, extensive land package, which is in the early stages of being evaluated. At the company's current valuation, however, we believe its high-margin business is well recognized by the market. ... We believe the recent decline in share price is largely attributable to falling copper prices."