Scotiabank reiterates Ero Copper stock rating on Brazil operations

Scotiabank has reiterated its Sector Outperform rating and set a Cdn$55.00 price target on Ero Copper Corp. (TSX:ERO) (NYSE:ERO), following a visit to the company's three operating mines in Brazil. The stock has seen a 115% surge over the past year, trading near its 52-week high of $40.83. Scotiabank cites valuation, near-term copper growth, high leverage to gold, and free cash flow yield as reasons for its positive outlook on Ero Copper.

The firm maintains its 12-month target, with the stock currently trading at a P/E ratio of 12.34 and holding a financial health score of 3.57 out of 5.

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