France's Eramet Q3 turnover rises on manganese and lithium gains

Eramet

29/10/2026 06:42

Overview
France mining group's Q3 adjusted turnover rose 4% yr/yr to €746 mln
Growth driven by higher manganese and lithium activities, offset by sharp nickel decline
Company progressing with €500 mln capital increase to strengthen balance sheet

Outlook
Eramet expects 2026 adjusted EBITDA between €540 mln and €610 mln
Company raises 2026 nickel ore external sales target to 23-26 Mwmt from 9 Mwmt initially
2026 capex forecast confirmed at €250 mln to €290 mln

Result Drivers
MANGANESE VOLUMES AND PRICES - Co said higher manganese ore volumes and improved selling prices drove growth, supported by upgrades to the Transgabonese railway
LITHIUM RAMP-UP - Co attributed higher lithium turnover to increased production and sales at the Centenario plant in Argentina, despite a maintenance shutdown
NICKEL PRODUCTION SUSPENSION - Co said nickel revenue fell sharply due to suspension of Indonesian operations for most of the quarter, with gradual restart in September

Company press release: ID:nGNEZ0cD0

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Adjusted Turnover
 
EUR 746 mln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 3 "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the diversified mining peer group is "buy."
Wall Street's median 12-month price target for Eramet S.A. is €51.00, about 43.6% above its October 28 closing price of €35.52

Reuters Recommended Reads
Oct 28 - Rio Tinto doubles down in Argentina with new lithium plants
Oct 27 - Freeport tops profit estimates on copper rally as Grasberg recovery continues
Oct 28 - Copper miner First Quantum beats Q3 profit estimates on higher production, prices; output guidance narrowed

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)