Stifel analyst Ralph Profiti initiated coverage of Ero Copper (ERO) with a Buy rating and C$29 price target The firm, which has a “tactical” gold price target of $3,800/oz on a six to twelve month view, argues that gold equities can “go much higher” compared to the price of gold and S&P 500. On copper, which the firm says is “under-owned,” it advises increased exposure to take advantage of heightened supply stresses and estimates the incentive copper price is $5.00/lb.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ERO:
- Ero Copper price target lowered to C$25 from C$26 at Scotiabank
- Ero Copper price target raised to C$27 from C$24 at BMO Capital
- Ero Copper’s Promising Future: Buy Rating Backed by Tucuma Mine Milestone and Strong Financial Outlook
- Ero Copper falls -4.3%
- Ero Copper Achieves Commercial Production at Tucumã Operation