The Globe and Mail reports in its Thursday, Jan. 10, edition that expecting to see an improved outlook for TSX-listed base metals miners in 2019, BMO Nesbitt Burns analyst Jackie Przybylowski commenced coverage on Ero Copper ($10.87) with an "outperform" rating and $16 share target. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $14.56. Ms. Przybylowski says in a note: "Ero has been one of the best-performing base metals names since its IPO in 2017, and at this point, it's fair to argue that the equity is fully-valued based on its current mine plan. However, Ero offers investors exposure to copper with significant opportunities for production growth and resource expansion. We expect consensus estimates will rise to reflect new reserves or resources as these are defined and reported in future mine plans." The Globe reported on Nov. 20, 2018, that Raymond James analyst Farooq Hamed raised his share target for Ero Copper to $14 from $12, while maintaining an "outperform" rating. Ero Copper shares were then going for $10.27.
© 2020 Canjex Publishing Ltd. All rights reserved.