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Does MM like Nickel Industries (NIC) moving forward?

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Does MM like Nickel Industries (NIC) moving forward?

Thanks for taking my question! Best regards, NIC (Nickel Industries Ltd) share price has plunged by 36% since early March; whereas other Nickel names such as PAN and IGO have descended by 26% and 16% respectively in this time frame. NIC is planning to become a top 10 global nickel producer; and is expected to almost triple production over the next several years. Having been concerned about counterparty risk at Tsingshan; but these concerns have dissipated. Is NIC a good medium to long term investment? Thanks

Answer

Hi Peter,

As you say NIC has been hit harder than its top quality sector peers over the last 3-months but that’s been the characteristic of the whole market in 2022, kind of like only the best will do. At this stage MM isn’t prepared to fight the market, while we don’t mind NIC our preference is for IGO and were backing this particular view with our own money.

 

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Nickel Mines (NIC)
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