6% gain in one week: Eramet stock advances another 2.5%
The mining and metallurgical group continues its rebound this Friday, in a well-oriented Paris market. The stock regains momentum after several consolidation sessions, while concerns over French debt take center stage.
A rebound that places the stock above its short-term averages
The Eramet share gains 2.29% to €46.44 in trading, compared to €45.40 the previous day, while the SBF 120 rises 0.88%. The price is above the MA20 (€44.41, a 4.57% spread) and the MA50 (€45.23, a 2.68% spread), extending the recovery initiated in late September, after a dip to the €43 zone, already tested in mid-September. The MA200, at €53.39, remains 13% above the current price: over one year, the stock is still down 22.15%, but it has gained 6.08% over the week. This movement places Eramet among today's gainers, though not at the top of the SBF 120 rankings.
A resumption of operations in Indonesia that has reinvigorated the stock
Since the resumption of the Weda Bay nickel mine, announced on September 10 following a four-month Care & Maintenance shutdown, the group has regained visibility on one of its key activities. On October 2, it also confirmed its intention to apply for the Argentine RIGI regime to expand its Centenario-Ratones lithium site, in the province of Salta. Brent crude, at $102.91 per barrel, is down 1.31% this morning after a gain of 6.2% over nine sessions. Going forward, the €43 support level and the €60.50 resistance level define the technical configuration of the stock.
