We are lifting our stops in Nickel Industries Ltd (NIC) to 89c following an “ok” fourth quarter result this morning:
- Adjusted Ebitda from operations $37.3mn, -57% QoQ.
- Nickel sold 31,429 tons +2.6% QoQ.
- RKEF (Rotary Kiln Electric Furnace) $350mn, +1.5%.
The stocks slipped 1c after the update, in a weak market – we’ve simply raised our stop below 90c technical support.
MM is long and bullish towards Nickel Industries Ltd (NIC) around 95c
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