Down nearly 22% over a year, Eramet stock rebounds 2%
The mining and metallurgical group bounces back in early afternoon, in a slightly declining Paris market. It thus extends its recovery movement from the previous week, following a visit to its support levels.
A security regaining its short-term averages in a declining SBF 120
Eramet stock gains 1.95% to €45.02 during the session, while the SBF 120 falls 0.46% and the CAC 40 drops 0.54%. This rebound places the security among the strongest gainers of the index, in a market nonetheless oriented downward. After a pullback to €44.16 at the last close, the price moves back above its MM20 (€44.43, a gap of 1.33%) and comes into contact with its MM50 (€44.96).
This return to short-term averages follows the 2.3% gain recorded over the last seven days. The MM200, at €53.52, remains however very distant, at nearly 16% above the current price, which reminds investors of the extent of last year's decline (-21.8% over twelve months).
Between the €43 support and the €46.90 resistance, a security seeking direction
The session unfolds in a context marked by tension on French debt, with a 10-year OAT at 4.90% according to the Banque de France report of October 2. Eramet has for its part multiplied announcements in recent days. The group confirmed on October 2 its intention to seek the Argentine RIGI scheme to expand its Centenario-Ratones lithium site in Salta, following a meeting between Christel Bories and President Javier Milei.
On the operational front, the resumption of the Weda Bay nickel mine in Indonesia, after four months of shutdown, had been announced on September 10. On the figures side, the security is evolving within a corridor delimited by the €43 support and the €46.90 resistance, with an RSI at 46, without excess in either direction. The breakthrough of this €46.90 level constitutes the level that the price has not yet reached in this rebound.
