スティフェル・カナダは第1四半期決算発表後、エロ・カッパーの投資判断を「ホールド」に据え置き、目標株価を52.00カナダドルに維持した。

-- スティフェル・カナダは火曜日、エロ・カッパー（ERO.TO）の第1四半期決算発表を受け、同社の株式に対する投資判断を「ホールド」に据え置き、目標株価を52.00カナダドルとした。 Eroは、2026年第1四半期の調整後EPSが0.69ドル（当社の予想0.60ドル、コンセンサス予想0.58ドル）、調整後EBITDAが1億2500万ドル（当社の予想1億700万ドル、コンセンサス予想1億1800万ドル）となり、銅生産量は17.3Kt（当社の予想16.5Ktを上回る）、C1現金コストは2.39ドル/ポンド（当社の予想2.41ドル/ポンドと同水準）、金生産量は5.5Koz、金現金コストおよびAISCはそれぞれ2,120ドル/オンスおよび4,441ドル/オンスでした。好調な業績は、予定されていた換気、冷却、および地盤支持設備の設置（4月末までにほぼ完了）によるXavantinaでのコスト増によって部分的に相殺されました。2026年度の生産量、コスト、設備投資のガイダンスは再確認され、C1での連結銅生産量は67.5～77.5Kt、原油価格2.15～2.35ドル/ポンド、金生産量4万～5万オンス、オールインコスト（AISC）2,000～2,500ドル/オンス、設備投資額2億7,500万～3億2,000万ドル。2026年第1四半期末時点で、Ero社は現金9,120万ドル（前四半期比1,400万ドル減）、未使用の回転信用枠5,500万ドルを含む総額1億4,620万ドルの流動資産を保有しており、純負債は4億9,070万ドル（前四半期比1,100万ドル減）に減少、純負債／EBITDA比率は1.04倍（2025年末時点の1.22倍から低下）となった」と、アナリストのラルフ・プロフィティ氏は記している。（は、北米、アジア、ヨーロッパの主要銀行および調査会社による株式、商品、経済に関する調査レポートを配信しています。調査レポート提供者の方は、こちらからお問い合わせください：https://www..com/contact-us）

Price: $35.14, Change: $+1.79, Percent Change: +5.37%

Market Chatter: Japan Advances Energy Loan Talks With South Africa, Promotes Ammonia Co-Firing

Japan is accelerating talks on a yen-denominated energy loan for South Africa while promoting ammonia co-firing technology, Bloomberg said Tuesday, citing Japanese diplomatic officials.Japan will use the proposed loan to support South Africa's energy transition, though it did not disclose the amount, the report said, citing officials.Japan's initiative adds to about $10 billion in climate financing already pledged to South Africa by European countries under an existing energy transition agreement.Germany and Japan are expanding efforts to position their companies in South Africa, targeting opportunities in a market with strong solar and significant green hydrogen production potential.Leaders first discussed the loan during a meeting between President Cyril Ramaphosa and former Japanese Prime Minister Shigeru Ishiba in Yokohama in August, the report added.Japan is promoting ammonia co-firing, which replaces part of coal use at power plants with ammonia to reduce emissions while maintaining existing infrastructure.South Africa can produce green hydrogen using its solar and wind resources, then convert it into ammonia for easier storage and transport, supporting cleaner energy pathways.However, critics say ammonia co-firing could extend the life of coal plants, as South Africa still generates about three-quarters of its electricity from coal, the report noted.has reached out to South Africa's Department of Electricity and Energy for any comments.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

スティフェル・カナダは第1四半期決算発表後、エロ・カッパーの投資判断を「ホールド」に据え置き、目標株価を52.00カナダドルに維持した。

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