Eramet S.A. experienced a substantial decline in short interest during December 2023. As of December 31, the total short interest dropped to just 78 shares, representing a decrease of 81.9% from the 432 shares reported on December 15. This significant reduction reflects a notable shift in market sentiment towards the company.
The current days-to-cover ratio stands at 0.1 days, based on an average daily trading volume of 1,361 shares. This metric indicates that the current level of short interest can be covered very quickly, suggesting increased investor confidence in Eramet’s stock performance.
Recent Stock Performance
On December 31, Eramet’s stock price rose by $0.34 to reach $8.52 per share. The trading volume for the day was 5,716 shares, slightly below the average volume of 5,819 shares. Over the past twelve months, the stock has fluctuated between a low of $4.44 and a high of $8.52. The company’s 50-day moving average price is currently $6.37, while the 200-day moving average stands at $6.28.
About Eramet S.A.
Founded in 2008 and headquartered in Paris, Eramet S.A. is a global leader in the mining and metallurgical sector. The company specializes in the production of high-value metal raw materials and alloys, focusing primarily on the extraction, processing, and refining of manganese and nickel ores. These materials are essential for the manufacturing of stainless steel and the growing electric vehicle battery market.
In recent years, Eramet has expanded its portfolio to include lithium hydroxide and rare earth elements, aligning its business with the demands of energy transition and advanced manufacturing. The company operates in over twenty countries, with major mining sites located in New Caledonia and Gabon, complemented by processing facilities across Europe and Asia.
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