Eramet : The worst is now over. Buy rating confirmed
>The mining activities are performing well - Eramet reported Q3 2020 sales of € 850m, down a limited 5% (vs Q3 2019: € 859m). The Manganese BU (46% of total sales) benefited from the rise in volumes of manganese ore produced (+15%) and sold (+65%), which offset the fall in the ore price (CIF China 44% at $ 4.2 /dmtu i.e. -26%). The group announced the opening of the new Okouma mining plateau in Gabon (capex of € 85m in 2020), with the aim of achieving manganese ore pr...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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