Eramet S.A.

Eramet is a mining and metallurgical group, which specializes in the extraction, production and marketing of non-ferrous metals, their chemical derivatives, alloys and superalloys, and parts. Co.'s operations are divided into three divisions: Nickel division which focuses on nickel and its derivative applications; Manganese division which focuses on manganese alloys, manganese chemical derivatives and provides recovery and recycling services of metals contained in oil-industry catalysts, electric batteries and acid solutions; and Alloys division which produces and sells special high-performance steels, superalloys and pre-machined parts based on these materials or aluminium and titanium.
  • TickerERA
  • ISINFR0000131757
  • ExchangeEuronext Paris
  • SectorIndustrial Metals & Mining
  • CountryFrance

Analysts

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 22/11/2019 - Exor - FR

Exor (Achat) : Prévoit de maintenir un levier (LTV) prudent de moins 20% Eramet (Conserver) : Rachat partiel de €226m d’obligations 2020 Sanofi : Considère plusieurs options concernant son activité de médicaments sans ordonnance SoftBank (Conserver) : En pourparlers pour obtenir un financement jusqu’à JPY300 mds (~$2,8 mds) Fiat Chrysler Automobiles (Achat) : Rappel d’environ 700.000 véhicules SUV dans le monde Volkswagen (Achat), BMW (Conserver) et Daimler (Conserver) : Condamnés à €100m d'amendes Aryzta (Vente) - S1-19/20 : Ventes de €844...

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 06/11/2019 - Intesa Sanpaolo - EN

TP ICAP - Europe - Morning CreditUpdate 06/11/2019 - Intesa Sanpaolo - EN

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 23/10/2019 - Casino, BPER - Ubi Banca, Eramet- EN

Casino (O/P On Short Term Bonds, M/P On Long Term Bonds): Obtains New Secured Bank Loans, Downgrade Of Its Rating By Moody's BPER (O/P vs M/P) - UBI Banca (O/P): Rumours of A Merger Eramet (M/P): Confirms its Production Targets Softbank (M/P): $5bn Additional Funding Injected Into Wework Peugeot (O/P) - Q3-19: Revenues Up 1% To €15.6bn Crown European Holdings (M/P): Issued A €550m 3NLC 0.875% Bond Boston Scientific: 8Y Senior Unsecured Bond issue planned Akzo Nobel (M/P) - 9M19: EBITDA Of €1.0bn (+29%)

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 23/10/2019 - Casino, BPER - Ubi Banca, Eramet- FR

Casino (Achat souches courtes, Conserver souches longues) : Obtention de nouvelles lignes bancaires sécurisées, dégradation du rating par Moody’s BPER (Achat) – UBI Banca (Achat) : Rumeurs de fusion Eramet (Conserver) : Confirmation des objectifs de production SoftBank (Conserver) : Injection de fonds supplémentaires de $5 mds dans WeWork Peugeot (Achat) - T3-19 : CA de €15,6 mds en hausse de 1% Crown European Holdings (Conserver) : Emission d'une obligation de €550m 3NLC 0,875% Boston Scientific : Prévoit d’émettre une obligation senior...

Carole Braudeau

Eramet : A try to be converted in H2

Publication date 08/08/2017 15:29 - Writing date 08/08/2017 15:26 - - - - - - - - - Corporate Governance : High risk (4) - / - / - 24/10/17 : Q3 2017 sales - - - - - - - - - - - - - - - - - - - - - Eramet has reported solid H1 2017 results, mainly driven by the increase in manganese prices, which boosted EBITDA in this division and had positive repercussions on credit metrics. - If this operating recovery continues into H2 and the group maintains positive free cash flow generation, we may upgrade our estimated rating from B+ today to BB. - But given the lack of ...

Ahmed Ben Salem ...
  • Alain William
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Jean-François Granjon
  • Martial Descoutures
  • Oussema Denguir
  • Sven Edelfelt
  • Virginie Rousseau
  • Yassine Batini

ODDO BHF Small & MIDCAP MORNING NEWS - 12/13/2019

FFP’s diary might be very full in 2020: spin-off of Faurecia, merger between FCA and PSA, a probable acquisition of shares in Faurecia and newco to breach the 5% threshold and, last but not least, the Peugeot clan’s possible acquisition of a 2.5% stake in newco from Dongfeng as a means of reducing the latter's weight and ramping up the combined shareholding with BPI to match Exor's level. Buy (target price € 138 vs € 134): the merger offers significant leverage on FFP’s future valuati...

Alain William

Eramet : Guidance in line with the fall in nickel and manganese prices

>The fall in manganese prices below the marginal cost is not sustainable - Manganese ore prices have fallen by nearly 50% to $ 3.7 /dmtu since the start of the year (vs $ 7.1 /dmtu in Q4 2018 and $ 5.7 /dmtu in Q3 2019). This decrease is the result of: 1/ the slowdown in global steel production (-2.8% in October 2019, i.e. +3.2% in the first 10 months vs +4.9% in the first 6 months); 2/ the still high level of low grade ore exports (28%-32%) from South Africa; and 3/ ...

Ahmed Ben Salem ...
  • Alain William
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Jean-François Granjon
  • Martial Descoutures
  • Oussema Denguir
  • Sven Edelfelt
  • Virginie Rousseau
  • Yassine Batini

ODDO BHF Small & MIDCAP MORNING NEWS - 13/12/2019

L’agenda de FFP risque d’être très chargé en 2020 : spin-off de Faurecia, fusion FCA-PSA, rachat probable de titres Faurecia et NewCo pour franchir le seuil de 5%, last but not least, rachat possible par le clan Peugeot de 2.5% de NewCo à Dongfeng : un moyen de réduire le poids de Dongfeng et de monter avec BPI au niveau de Exor. Achat (OC 138 € vs 134 €) : la fusion offre un levier important sur la valorisation future de FFP. - Cf. étude publiée hier soir. - ...

Alain William

Eramet : Une guidance conforme à la baisse des prix du nickel et du manganèse

>La chute du prix du manganèse sous le coût marginal n’est pas tenable - Le prix du minerai de manganèse a connu une baisse de près de 50% à 3.7 $/dmtu depuis le début de l’année (vs 7.1 $/dmtu au T4 2018 et 5.7 $/dmtu au T3 2019). Cette baisse résulte 1/ du ralentissement de la production d’acier mondiale (-2.8% en octobre 2019 soit +3.2% sur 10 mois vs +4,9% sur 6 mois), 2/ du niveau toujours élevé des exportations de minerai de faible teneur (28%-32%) en provenance...

Feasibility Study Results in December to be a Catalyst for this Junior

Feasibility Study Results in December to be a Catalyst for this Junior