Eramet Shares Drop 12.58% Over the Week, Approaching Support at €49.68
The mining and metallurgical group's stock falls 2.4% to €52.80 at midday in a declining Paris market. The SBF 120 is down 0.53% and the CAC 40 decreases by 0.54% at the same time. The stock continues a downward trend that started last week, less than a week before its annual general meeting.
A Decline that Breaks Through Key Moving Averages
Eramet's stock has fallen below its three reference moving averages. The price is 7.48% below the MM20 (€57.07) and 6.83% below the MM200 (€56.67), while it has also crossed below the MM50 (€53.66) by 1.60% above the current price. The RSI at 45 remains in the neutral zone, indicating that the selling pressure has not yet tipped into oversold territory.
The stock is approaching the support level at €49.68, which is about 5.9% below the current price. The resistance at €60.50, already tested several times this month without breakthrough, remains distant. Over the week, the decline reaches 12.58%, a stark contrast to a still positive performance of 7.80% over three months. The decline follows the pattern of previous sessions, already documented by the slip below the 200-day average observed on May 18.
Annual General Meeting on May 27 in a Busy Sectoral Context
The annual general meeting is scheduled for May 27. This event follows the announcement of the first quarter revenue on April 23, amounting to 840 million euros (up 13% year-on-year), a release overshadowed by a fire on February 22 in Senegal that halted the production of mineralized sands and by an unfavorable exchange rate effect of 9%.
The sectoral context remains turbulent. Nvidia's data center segment generated $75.2 billion in revenue in the first quarter, up 92% year-on-year, a dynamic that fuels the structural demand for metals for infrastructure (copper, nickel, manganese), sectors in which Eramet is involved. The VIX has risen to 18.06, indicating slight tension in the stock markets. The next key date is now the annual general meeting on May 27.
