NICKEL INDUSTRIES LIMITED (NIC)
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NIC - NICKEL INDUSTRIES LIMITED

FNArena Sector : Nickel
Year End: December
GICS Industry Group : Materials
Debt/EBITDA: 1.92
Index: ASX200 | ASX300 | ALL-ORDS

Nickel Mines is an Australian producer of nickel pig iron, a key ingredient in the manufacture of stainless steel. Its assets & production facilities are in Indonesia. The company listed in 2018.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$0.915

20 Nov
2024

-0.010

OPEN

$0.94

-1.08%

HIGH

$0.94

1,836,186

LOW

$0.92

TARGET
$1.212 32.4% upside
OTHER COMPANIES IN THE SAME SECTOR
ARL . CTM . IGO . LEG . POS . QPM . SRL . WIN .
FNARENA'S MARKET CONSENSUS FORECASTS
NIC: 1
Title FY24
Forecast		 FY25
Forecast
EPS (cps) 4.3 xxx
DPS (cps) 4.0 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 21.1 xxx
Dividend Yield 4.4% xxx
Div Pay Ratio(%) 93.4% xxx
This company reports in USD.
All estimates have been converted into AUD by FNArena at present FX values.

Dividend yield today if purchased 3 years ago: 3.49%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 5.00

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 03/09 - (franking ex-di

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201820192020202120222023
EPS Basic xxxxxxxxxxxxxxx5.4
DPS All xxxxxxxxxxxxxxx4.5
Sales/Revenue xxxxxxxxxxxxxxx2,832.5 M
Book Value Per Share xxxxxxxxxxxxxxx82.9
Net Operating Cash Flow xxxxxxxxxxxxxxx269.3 M
Net Profit Margin xxxxxxxxxxxxxxx6.47 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201820192020202120222023
Return on Capital Employed xxxxxxxxxxxxxxx6.70 %
Return on Invested Capital xxxxxxxxxxxxxxx5.13 %
Return on Assets xxxxxxxxxxxxxxx3.70 %
Return on Equity xxxxxxxxxxxxxxx6.70 %
Return on Total Capital xxxxxxxxxxxxxxx10.58 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-159.4 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201820192020202120222023
Short-Term Debt xxxxxxxxxxxxxxx377 M
Long Term Debt xxxxxxxxxxxxxxx861 M
Total Debt xxxxxxxxxxxxxxx1,238 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx1,141 M
Price To Book Value xxxxxxxxxxxxxxx0.84

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201820192020202120222023
Capex xxxxxxxxxxxxxxx359.9 M
Capex % of Sales xxxxxxxxxxxxxxx12.71 %
Cost of Goods Sold xxxxxxxxxxxxxxx2,328 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx28 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx773 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.8

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

3

xxxxxxxxxx xx xxxxxxxx xxxx xxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

04/11/2024

1

Overweight

$1.10

20.22%

Morgan Stanley notes Nickel Industries' Q3 2024 nickel production was -6% below its estimate but 8% above consensus.

Total nickel sales, however, were weaker, coming in -5% below the analyst's and -7% below consensus expectations.

As the only pure nickel stock, Morgan Stanley views the company favourably, citing its profitability at current nickel prices.

The broker has raised EPS forecasts by 38.9% for 2024 and 105.7% for 2025.

The target price is increased to $1.10 from $1.00, with an Overweight rating and an Industry View of "Attractive."

FORECAST
Morgan Stanley forecasts a full year FY24 dividend of 3.50 cents and EPS of 3.02 cents.
Morgan Stanley forecasts a full year FY25 dividend of 2.60 cents and EPS of 6.03 cents.

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Canaccord Genuity

04/11/2024

3

Hold

$1.00

9.29%

Nickel Industries 3Q2024 results show a 4% quarter-on-quarter decline in pig iron production, mainly due to scheduled maintenance, with EBITDA reaching US$109m, slightly below consensus expectations, Canaccord Genuity notes.

The Hengjaya mine saw significant improvement, with a 94% increase in ore mined and a 52% rise in EBITDA.

However, cash reserves fell by -46% to US$193m due to debt servicing and acquisitions, resulting in net debt estimated to peak at US$1,047m by 3Q2025, the broker explains.

No change to Hold rating and $1 target.
Access Extra Coverage Research History >

NIC STOCK CHART

FNArena News on NIC

1
Rudi’s View: The Importance Of ‘Quality’ Growth

Nov 21 2024 - Rudi's View
2
Rudi’s View: A Rally With No Earnings Support

Nov 14 2024 - Rudi's View
3
Rudi’s View: Trump Returns, What Now?

Nov 07 2024 - Rudi's View
4
Australian Broker Call *Extra* Edition – Nov 04, 2024

Nov 04 2024 - Daily Market Reports
5
Rudi’s View: US Earnings & The Election

Oct 31 2024 - Rudi's View

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Nickel Industries: Potential & Risks

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Jan 27 2021 - Australia
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Nov 02 2020 - Australia
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Oct 21 2020 - Small Caps
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Jul 10 2020 - Small Caps
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