The Globe and Mail reports in its Thursday, Dec. 7, edition that Eight Capital analyst Ralph Profiti sees copper equities "well positioned ahead of the next bull run," expecting "moderate-to-severe" price spikes over the next three to five years. The Globe's David Leeder writes in the Eye On Equities column that Mr. Profiti rates Ero Copper "neutral" in new coverage. He set a share target of $23.50. Analysts on average target the shares at $24. Mr. Profiti says in a note: "We believe a premium valuation for Ero is warranted given its low cash cost, as well as lower cash flow implied AISC relative to the peer group, and significant growth in 2024 and 2025 that we estimate will nearly double copper production relative to 2023. However, it's noteworthy that our estimates diverge significantly from consensus, taking into account F/X impacts from a stronger BRL, an expected slower ramp-up of growth projects, and downside risks to free cash flow estimates given the underperformance of copper prices and upside risks to capex as management completes expansions and construction at Caraiba and Tucuma. Despite our cautious outlook, we do see potential for upside surprises through stronger project execution and exploration."