The Globe and Mail reports in its Friday edition that Stifel analyst Alex Terentiew has resumed coverage on Ero Copper with a "hold" recommendation following its $111-million equity financing. The Globe's David Leeder writes in the Eye On Equities column that Mr. Terentiew slashed his share target back by $8 to $22. Analysts on average target the shares at $25. Mr. Terentiew says in a note: "[The share target reduction] is attributable to the financing, with the remainder coming from our assumption of higher costs going forward. While Ero Copper is facing the same cost pressures the broader industry is facing, the stronger Brazilian real and our new assumption that all concentrate from Caraiba will now be sold internationally and incur higher off-site charges, has moved our forecast 2024 estimated AISC cost higher by 14 per cent, and our all-in-cost per lb CuEq [copper equivalent] up by 13 per cent." The Globe reported on May 23 that Mr. Terentiew rated Ero Copper "hold." In the item he said, "Ero Copper is the lowest cost, highest margin producer in our coverage." The shares could then be had for $25.06. The Globe reported on Nov. 7 that Scotia Capital rated Ero "sector perform" when it could be had for $16.41.