Eramet : Une carte à jouer
Dans notre dernier update du 25/07/19, nous avions dégradé notre avis crédit sur Eramet de Stable à Négatif et notre recommandation de Neutre à Alléger car nous avions été déçus de la publication des résultats du S1 et de la dégradation de la guidance d’EBITDA pour 2019. Nous étions également inquiets des coûts associés aux deux projets que le groupe souhaitait développer (nouvelle mine de lithium en Argentine et extension de la capacité de production minerai de manganèse au Gabo...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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