NICKEL INDUSTRIES LIMITED (NIC)
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NIC

NIC - NICKEL INDUSTRIES LIMITED

FNArena Sector : Nickel
Year End: December
GICS Industry Group : Materials
Debt/EBITDA: 3.88
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

$0.63

24 Mar
2025

0.010

OPEN

$0.62

1.61%

HIGH

$0.64

5,073,064

LOW

$0.62

TARGET
$1.158 83.9% upside
OTHER COMPANIES IN THE SAME SECTOR
ARL . CTM . IGO . LEG . QPM . SRL . WIN .
FNARENA'S MARKET CONSENSUS FORECASTS
NIC: 1
Title FY25
Forecast		 FY26
Forecast
EPS (cps) 7.4 xxx
DPS (cps) 4.0 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 8.6 xxx
Dividend Yield 6.3% xxx
Div Pay Ratio(%) 54.4% 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: 3.10%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 6.45

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 © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx-6.0
DPS All xxxxxxxxxxxxxxx4.0
Sales/Revenue xxxxxxxxxxxxxxx2,644.7 M
Book Value Per Share xxxxxxxxxxxxxxx79.7
Net Operating Cash Flow xxxxxxxxxxxxxxx298.9 M
Net Profit Margin xxxxxxxxxxxxxxx-9.66 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx-7.33 %
Return on Invested Capital xxxxxxxxxxxxxxx-5.49 %
Return on Assets xxxxxxxxxxxxxxx-4.17 %
Return on Equity xxxxxxxxxxxxxxx-7.33 %
Return on Total Capital xxxxxxxxxxxxxxx4.33 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-5.3 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 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx220 M
Long Term Debt xxxxxxxxxxxxxxx1,483 M
Total Debt xxxxxxxxxxxxxxx1,703 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx359 M
Price To Book Value xxxxxxxxxxxxxxx1.04

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx115.7 M
Capex % of Sales xxxxxxxxxxxxxxx4.37 %
Cost of Goods Sold xxxxxxxxxxxxxxx2,364 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx36 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx1,987 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

1

xxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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UBS

25/02/2025

1

Buy

$1.00

58.73%

Nickel Industries is undergoing a transformation year in 2025, UBS assesses, having pre-reported revenue and earnings for 2024 at the December quarter production update.

The new information from the official results include a -US$204m impairment for HNI and RNI and a dividend of 1.5 cents.

UBS takes into account the commodity outlook, with the market is still in oversupply and non-nickel batteries continuing to take share.

Estimates for EPS in 2025 and 2026 are downgraded by -9% and -5%, respectively. Target edges down to $1.00 from $1.05. Buy retained.

FORECAST
UBS forecasts a full year FY25 dividend of 6.13 cents and EPS of 10.72 cents.
UBS forecasts a full year FY26 dividend of 6.13 cents and EPS of 13.79 cents.

Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

3

xxxxxxx

$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

03/03/2025

3

Hold

$0.80

26.98%

Nickel Industries' 2024 adjusted earnings missed consensus on higher expenses, Canaccord Genuity notes. Earnings exclude a -US $236.6m impairment expense attributed to the write-down of carrying value of Hengjaya and Ranger operations. 

The company has recently been in an investment phase, which appears to be coming towards its end, the commentary suggests.

Canaccord continues to watch the company's cash balance as payments approach and have cut its assumed dividend payments to 3c from 5c in 2025 to preserve cash.

Nickel Industries continues to work through a capital intensive period. This drain on cash puts its balance sheet at risk, however, by the end of the year the miner potentially moves to a free cash flow position, which Canaccord believes may be a potential re-rating catalyst.

Target falls to 80c from 85c, Hold retained.

FORECAST
Canaccord Genuity forecasts a full year FY25 dividend of 3.00 cents and EPS of 3.06 cents.
Canaccord Genuity forecasts a full year FY26 dividend of 3.00 cents and EPS of 6.13 cents.
Access Extra Coverage Research History >

NIC STOCK CHART

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