Nickel Industries Ltd (NIC) 86.5c
Nickel Industries (NIC) falls more than 8% after a fatality at its Hengjaya mine in Indonesia led to suspension of operations.
Nickel Industries (NIC)
NIC $0.66
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Performance
Advanced charting functionality with the ability to amend timeframes, chart type & indicator selection, powered by TradingView.
Share price activity
Displays share price activity. Volume = number of shares traded, Turnover = value of shares traded, VWAP = volume-weighted average price for the day, sourced from Morningstar.
- Last (Price)
- 0.66
- Change
- ▲ 0.02 (3.13)
- Bid / Ask
- 0.66 - 0.67
- Volume
- 10,945,207
- Turnover
- 7,152,277
- Open
- 0.65
- Day Range
- 0.63 - 0.67
- VWAP
- 0.65
- Prev Close
- 0.64
- Last Trade
- 11/11 4:10pm
Key information
Displays key information on the security, sourced from Morningstar.
- Sector
- Basic Materials
- Shares Issued
- 4,341,935,875
- NTA/Share
- 0.54
- Last Dividend
- —
- Dividend Ex Date
- —
- Dividend Pay Date
- —
Current (USD) · FY2025
Displays key financial data for the most recent fiscal year, in millions. Note - Per share data is in local currency terms irrespective of reporting currency, and may be different to the stated currency, sourced from Morningstar.
- Revenue
- 1,649.10
- EBITDA
- 241.74
- Profit
- -57.06
- Earnings Per Share (EPS)
- -0.01
- Dividend Per Share (DPS)
- 0.01
- Yield %
- 0.00
- Market Cap
- 2,865.68
- Price to Earnings Ratio (P/E)
- -122.69
Estimates (AUD) · FY2027
Displays consensus analyst’s estimates for key measures for the next fiscal year, sourced from Morningstar.
- Revenue
- 3,026.27
- EBITDA
- 653.59
- Profit
- 250.71
- Earnings Per Share (EPS)
- 0.06
- Dividend Per Share (DPS)
- 0.01
Quantitative rating
Displays Morningstar’s Quantitative Equity Research Rating for the security: a star rating from 1 (overvalued) to 5 (undervalued) from the share price against a fair value estimated by a statistical model of Morningstar’s analyst ratings, with the model’s economic moat, financial health and fair value uncertainty, sourced from Morningstar.
Undervalued
- Economic Moat
- None
- Financial Health
- Moderate
- Uncertainty
- High
Morningstar Quantitative Rating as of 6 NOV 2026.
Quantitative Equity Rating Methodology – view here
Fair value estimate
Displays Morningstar’s quantitative fair value estimate for the security against the current share price, with the band around it: the five-star price below which the model would rate the stock five stars and the one-star price above which it would rate it one star, sourced from Morningstar.
Five-star price 0.60 Fair value 0.75 One-star price 0.93
Morningstar Quantitative Rating as of 6 NOV 2026.
Quantitative valuation
Displays where the share price sits in Morningstar’s quantitative fair value band, from the five-star price (undervalued) to the one-star price (overvalued), with the fair value estimate, the price to fair value ratio, the model’s valuation label and its uncertainty rating, sourced from Morningstar.
Buy
Sell
- Fair Value
- 0.75
- Price / Fair Value
- 0.79
- Valuation
- Undervalued
- Uncertainty
- High
Morningstar Quantitative Rating as of 6 NOV 2026. The slider runs from the five-star price (0.60) to the one-star price (0.93).
Displays useful ratios for the security, NB the pricing date used, sourced from Morningstar.
| Ratios |
|---|
| Currency (Price/reporting): AUD/USD |
| Exchange Rate: 1.4485 |
Price, volume and trading statistics for the security, sourced from Morningstar.
| Price - closing or last bid | 0.59 |
| Price - 12 month high | 1.13 |
| Price - 12 month low | 0.57 |
| Pricing date | 5 NOV 2026 |
| Volume - avg. trading volume for the last ten days | 8.58 |
| Market capitalization | 2,561.74 |
| 12 Month High price date | 12 MAY 2026 |
| 12 Month Low price date | 4 NOV 2026 |
| Volume - avg. trading volume for the last 3 months | 7.10 |
| Price - 1 Day % Change | -3.28% |
| Price - 13 week price percent change | -29.34% |
| Price - 26 week price percent change | -43.00% |
| Price - 5 Day % Change | -6.35% |
| Price - 52 week price percent change | -13.87% |
| Price - YTD price percent change | -29.34% |
| Price % Change Month To Date | -22.88% |
Earnings, dividends, cash flow and book value per share, sourced from Morningstar.
| EPS excluding extraordinary items - most recent fiscal year | -0.013 |
| EPS excluding extraordinary items - trailing 12 month | -0.004 |
| EPS Normalized - most recent fiscal year | -0.012 |
| Revenue/share - most recent fiscal year | 0.381 |
| Revenue/share - trailing 12 month | 0.404 |
| Book value per share - most recent fiscal year | 0.471 |
| Book value per share - most recent half-year | 0.483 |
| Book value (tangible) per share - most recent fiscal year | 0.539 |
| Book value (tangible) per share - most recent half-year | 0.556 |
| Cash per share - most recent fiscal year | 0.074 |
| Cash per share - most recent half-year | 0.062 |
| Cash Flow per share - most recent fiscal year | 0.018 |
| Cash Flow per share - trailing 12 month | 0.021 |
| Dividend per share - most recent fiscal year | — |
| Dividends per share - trailing 12 month | 0.000 |
| EBITD per share - trailing 12 month | 0.071 |
| EPS Basic excluding extraordinary items - most recent fiscal year | -0.013 |
| EPS Basic excluding extraordinary items - trailing 12 month | -0.004 |
| EPS including extraordinary items - most recent fiscal year | -0.013 |
| EPS including extraordinary items - trailing 12 month | -0.004 |
| Free Cash Flow per share - trailing 12 month | 0.009 |
Valuation multiples such as P/E, price to sales, price to book and enterprise value ratios, sourced from Morningstar.
| P/E excluding extraordinary items, most recent fiscal year | — |
| P/E Normalized, most recent fiscal year | — |
| Price to sales - most recent fiscal year | 0.99 |
| Price to Tangible Book - most fiscal year | 0.89 |
| Price to Free Cash Flow per Share - most recent fiscal year | 42.65 |
| Price to Cash Flow per share - trailing 12 month | 18.91 |
| Price to Book - most recent fiscal year | 0.84 |
| P/E excluding extraordinary items high, trailing 12 months | — |
| P/E excluding extraordinary items low, trailing 12 months | — |
| Net Debt, LFI | 980.02 |
| Net Debt, LFY | 902.79 |
| Dividend Yield - 5 Year Average | 3.91% |
| Dividend Yield - indicated annual dividend divided by closing price | — |
| Current Dividend Yield - Common Stock Primary Issue, LTM | 0.00% |
Cash flow, liquidity and leverage measures, sourced from Morningstar.
| Free Cash Flow - most recent fiscal year | 43.44 |
| LT debt/equity - most recent fiscal year | 44.83% |
| Payout ratio - most recent fiscal year | — |
| Total debt/total equity - most recent fiscal year | 49.87% |
| LT debt/equity - most recent half-year | 46.03% |
| Total debt/total equity - most recent half-year | 49.37% |
| Free Cash Flow - trailing 12 month | 40.81 |
| Payout ratio - trailing 12 month | — |
Key income statement lines for the most recent fiscal year, in millions, sourced from Morningstar.
| Revenue - most recent fiscal year | 1,649.10 |
| Revenue - trailing 12 month | 1,757.78 |
| EBITD - most recent fiscal year | 241.74 |
| EBITD - trailing 12 month | 307.72 |
| Earnings before taxes - most recent fiscal year | -6.66 |
| Earnings before taxes - trailing 12 month | 43.04 |
| Net Income available to common - most recent fiscal year | -57.06 |
| Net Income available to common - trailing 12 months | -15.85 |
| Earnings before taxes Normalized - most recent fiscal year | 2.58 |
| Net Income Available to Common, Normalized - most recent fiscal year | — |
| Earnings per Share, Normalized, Excluding Extraordinary Items, Avg. Diluted Shares Outstanding, TTM | 0.00 |
Profitability margins for the most recent fiscal year, sourced from Morningstar.
| Net Profit Margin % - 1st historical fiscal year | -2.50% |
| Net Profit Margin % - trailing 12 month | 0.44% |
| Operating margin - 1st historical fiscal year | 7.05% |
| Operating margin - trailing 12 month | 9.66% |
| Pretax margin - trailing 12 month | 2.45% |
| Pretax margin - 1st historical fiscal year | -0.40% |
| Operating Margin - 5 year average | 16.41% |
| Pretax Margin - 5 year average | 9.27% |
| Free Operating Cash Flow/Revenue, 5 Year Average | 7.44% |
| Free Operating Cash Flow/Revenue, TTM | 2.32% |
| Net Profit Margin - 5 year average | 8.09% |
Returns on average assets and equity for the fiscal year, the trailing 12 months and as 5 year averages, and net income and revenue per employee in whole currency, sourced from Morningstar.
| Return on average assets - most recent fiscal year | -1.03% |
| Return on average assets - trailing 12 month | 0.19% |
| Return on average equity - most recent fiscal year | -1.97% |
| Return on average equity - trailing 12 month | 0.37% |
| Return on average assets - 5 year average | 3.73% |
| Return on average equity - 5 year average | 6.28% |
| Net Income/employee - most recent fiscal year | — |
| Revenue/employee - most recent fiscal year | — |
Growth in revenue, earnings, dividends and book value over recent periods, sourced from Morningstar.
| Revenue growth rate, 5 year | 25.80% |
| EPS growth rate, 5 year | — |
| Growth rate% - dividend, 3 year | -30.18% |
| Revenue/share (5 yr growth) | 7.23% |
| Growth rate% - Revenue, 3 year | 10.66% |
| Growth rate% - EPS, 3 year | — |
| Book value per share growth rate, 5 year | 4.72% |
| Capital Spending growth rate, 5 year | 37.22% |
| Earnings Before Interest, Taxes, Depreciation & Amortization, 5 Year CAGR | 4.27% |
Displays analyst’s forecasts for key measures. The estimates can be expanded to see the spread of the calls. Full lines = reported, and dotted lines are forward estimates. Click a measure to add or remove it from the chart, sourced from Morningstar.
Financial forecast (AUD, millions except per share)
| Actuals | Estimates | |||||||
| 2025 | 2026 | 2027 | 2028 | 2029 | ||||
| Estimate breakdown | ||||||||
Financial metrics can be plotted on the graph to see trends. Multiple metrics from multiple statements can be plotted against each other, sourced from Morningstar.
Financials (USD, millions)
| Period end: | DEC 21 | DEC 22 | DEC 23 | DEC 24 | DEC 25 |
| Fiscal year: | 2021 | 2022 | 2023 | 2024 | 2025 |
| Period length: | 12 months | 12 months | 12 months | 12 months | 12 months |
Displays all company announcements released by the company to the exchange, sourced from Morningstar.
Announcements
| DATE | TIME | HEADING | PAGES |
| Price sensitive |
Opinion
Shawn’s Trade Idea: Lifting stops on Nickel Industries Ltd (NIC) to 89c
We are lifting our stop in Nickel Industries (NIC) this morning following its fourth quarter update.
Shawn’s Trade Idea: Buy Nickel Industries (NIC) at 94c
The resources sector has boomed as we all know in recent times with nickel having been laggard due to supply issues from Indonesia. However, with the demand for battery metals set to rise again in 2026 and the Indonesian government expected to slash the regions production quota the dynamic could already be changing.
Nickel Industries Ltd (NIC) 75c
NIC is a company which focuses on nickel production and processing, with operations mainly in Indonesia. We haven’t discussed NIC at length in 2025 with it having fallen more than 9% while most other miners have soared higher. However, similar to copper, demand for nickel is expected to grow over the long run, mainly because EVs and batteries use it.
Nickel Industries Ltd (NIC) $0.84
NIC surged over 9% on Thursday, following Putin’s comments on nickel. Russia’s MMC Norilsk Nickel PJSC is the world’s biggest producer of refined nickel, and it’s not subject to US or UK sanctions. The West has chosen what to sanction from Russia in a somewhat bigoted fashion;
Nickel Industries Ltd (NIC) 89.5c
We haven’t been a fan of NIC over the years, the Indonesian producer of primarily pig iron (used to make steel), but its share price is turning the corner nicely. A great example that these lesser followed metal stocks are attracting some buying. While the pig iron price didn’t quite attract the lofty prices that battery-grade nickel saw, it is now benefitting from the tighter controls on Russian supply while China looks set to see higher demand.
Nickel Industries (NIC) 88c
We prefer IGO as a business to NIC although their relative valuations are starting to stretch with IGO +14.4% in 2023 while NIC is down -9.3% i.e. the trend of the last 12 months has been “the strong keep getting stronger and the weak weaker”.
3 Nickel Industries (NIC) $1.045
Yesterday saw Nickel business NIC recommence action on the ASX following a trading halt after a capital raise at $1.02 with funds largely used to acquire two producing nickel assets.
Nickel Industries Ltd (NIC) $1.03
NIC has fallen -28% year-to-date even while the commodity on which its business focuses has risen, albeit in an extremely volatile fashion. However, the stock has bounced almost 50% from its October low significantly reducing the risk/reward appeal in the process. Nickel is a very widely used industrial metal that should benefit from the transition to renewables as it’s used in rechargeable lithium-ion batteries.
Action
Updated
26/03/2026
17:08
NIC
Updated 26/03/2026 17:08
MM is bullish Nickel Industries (NIC) around 88c
Updated
29/01/2026
10:34
NIC
Updated 29/01/2026 10:34
MM is long and bullish towards Nickel Industries Ltd (NIC) around 95c
Updated
27/01/2026
08:52
NIC
Updated 27/01/2026 08:52
Trade Idea: Buy Nickel Industries Ltd (NIC) at 94c limit, with stops at 85c, ~10% risk.
Updated
17/12/2025
10:16
NIC
Updated 17/12/2025 10:16
MM is bullish towards NIC
Updated
22/10/2024
09:36
NIC
Updated 22/10/2024 09:36
MM is cautiously bullish about NIC
Updated
13/09/2024
08:33
NIC
Updated 13/09/2024 08:33
MM is bullish towards NIC in the short-term
Updated
16/04/2024
09:47
NIC
Updated 16/04/2024 09:47
MM is bullish NIC in the short term
Updated
18/07/2023
17:20
NIC
Updated 18/07/2023 17:20
MM is neutral at best toward NIC
Updated
20/01/2023
19:22
NIC
Updated 20/01/2023 19:22
MM likes NIC below $1
Updated
15/12/2022
16:32
NIC
Updated 15/12/2022 16:32
MM is neutral NIC around $1
Business Summary
Nickel Industries Ltd is engaged in acquiring, exploring, and developing nickel projects. The group has three segments: nickel ore mining in Indonesia, the RKEF projects in Indonesia and Singapore, and the HPAL projects in Indonesia. Its principal operations, located in Indonesia, are the Hengjaya Nickel, Oracle Nickel, and RKEF projects located within the Indonesia Morowali Industrial Park (IMIP), the Angel Nickel RKEF Project within the Indonesia Weda Bay Industrial Park (IWIP), and the Hengjaya Mine, a large tonnage, high grade nickel laterite deposit in proximity to the IMIP.
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