DorsaVi (ASX:DVL) Ultra Edge AI Could Unlock a Re-Rate Toward Our Base Valuation
DorsaVi (ASX:DVL) holds two IP acquisitions in ReRAM and neuromorphic AI. We value the stock…
- ASX: NIC
Nickel Industries Ltd
Share Price and News
ASX BIG FOUR - LIVE SNAPSHOT
SELL
Whitehaven Coal
(ASX:WHC)
Paul Flynn
01/03/2026
$8.7m
BUY
Elixir Energy
(ASX:EXR)
Featured
SELL
Aspen Group
(ASX:APZ)
David Dixon
03/03/2026
$11.4m
BUY
Lovisa
(ASX:LOV)
Brett Blundy
04/03/2026
$6.8m
— Copmany Overview
About Nickel Industries
Nickel Industries owns and operates multiple mining and processing assets in Indonesia. These include the Hengjaya Mine and four rotary kiln electric furnace (RKEF) facilities – Hengjaya Nickel, Ranger Nickel, Angel Nickel, and Oracle Nickel – which primarily produce nickel pig iron (NPI) for stainless steel markets. The company is also expanding into battery-grade materials through high-pressure acid leach (HPAL) projects such as the Huayue Nickel Cobalt (HNC) and Excelsior Nickel Cobalt (ENC) projects, which produce mixed hydroxide precipitate (MHP). These moves support its strategy to become a key player in the global energy transition.
Nickel Industries' Company History
Nickel Industries was established in 2007 and initially focused on acquiring and developing nickel assets in Indonesia. The company began commercial operations with the Hengjaya Mine, a high-grade nickel laterite resource. A key turning point came through its partnership with Tsingshan Holding Group, which facilitated the development of several rotary kiln electric furnace (RKEF) operations for nickel pig iron production. Over the years, Nickel Industries has grown rapidly, expanding its processing footprint with projects like Angel Nickel and Oracle Nickel. More recently, the company has diversified into high-pressure acid leach (HPAL) technology to produce battery-grade nickel for electric vehicles. The 2023-24 nickel market bust has proven a challenge. It hasn’t fared as bad as many of its peers, but has faced shrinking margins and investor confidence.
- Free Report
Get Our Full ASX Stock Analysis Report
Expert buy ranges, stop losses and detailed fundamentals for 200+ ASX stocks – free every week.
— Forward View
Future Outlook of Nickel Industries (ASX: NIC)
Nickel Industries has struggled amidst the nickel bare market but fared better than some of its peers. Its fiscal 2025 full‑year performance has still shown trailing revenue of approximately US$1.6bn with a continuing basic EPS loss, albeit reduced compared to prior periods. The company is gearing up for the commissioning of the ENC nickel‑cobalt HPAL plant targeted for early 2026, which is expected to add about 72,000 tonnes of annual nickel capacity and broaden its product mix into battery‑grade materials. Crucially, 2026 guidance has improved with regulatory successes: Nickel Industries secured a significant increase in its RKAB nickel ore sales quota to approximately 14.3 million wet metric tonnes for the year and is aiming for further approvals that would lift ore sales potential to about 19 million wmt.
— Our Assessment
Is NIC a Good Stock to Buy?
On the positive side, the company’s expansion into battery‑grade nickel production with ENC provides exposure to energy‑transition demand. The recent increase in allowable ore sales volume and improved operational margins in early 2026 quarter results signal strengthening fundamentals. However, challenges remain. Nickel Industries has experienced ongoing losses at times and volatile earnings driven by commodity prices and operational cycle timing, and its heavy dependence on Indonesian regulatory approvals and allocation of mining quotas introduces execution risk. Moreover, the broader nickel market faces oversupply concerns which could pressure prices. For long‑term investors with conviction in a sustained recovery in nickel demand – particularly from electric vehicles and battery markets – Nickel Industries offers compelling growth potential. Yet those prioritising stable earnings and lower commodity cyclicality may find the stock’s volatility and execution uncertainty a deterrent until key project milestones like full ENC ramp‑up are delivered
— Our Stock Analysis
Related Articles
Celestica (NYSE:CLS) The AI Infrastructure Winner No One Wanted This Quarter
Celestica (NYSE:CLS) posted 53% revenue growth and a record 8% margin in Q1 2026, but…
The 50% CGT discount on shares: Here’s how it works, and if it is under threat
The 50% CGT discount on shares is one of the key mechanisms that helps investors…
Apple’s New Era: What the Tim Cook to John Ternus Transition Means for the World’s Most...
Apple (NASDAQ: AAPL) has confirmed that Tim Cook will step down as chief executive officer…
How To Read a Balance Sheet As An Investor: The 7 Questions Prudent Investors Need to Ask!
Knowing how to read a balance sheet is a key skill investors need to know,…
Adisyn (ASX:AI1) Graphene Breakthrough, What Investors Need To Know
Adisyn may have a fix for the Chip Industry's Wiring Problem
Think about the wiring…
— Faq
Frequently Asked Questions
What is the dividend yield of Nickel Industries?
Nickel Industries currently offers a dividend yield of approximately 5.84%, reflecting its approach to shareholder returns even as it continues to invest in growth.
How does NIC compare to its peers?
Nickel Industries stands out for its scale, cost efficiency, and strategic move into battery-grade nickel production. This positions it ahead of some peers still focused solely on traditional nickel products.
What are the risks of investing in NIC?
Risks include fluctuations in global nickel prices, delays or cost overruns in project development, and geopolitical factors in Indonesia that could impact operations or expansion plans.
What is the future growth potential of Nickel Industries?
Growth potential is strong, driven by expanding HPAL production and increasing exposure to electric vehicle supply chains. If successfully executed, these projects could materially boost earnings.
Is Nickel Industries undervalued?
Some investors may view the current share price as undervalued, especially given the company’s scale, dividend yield, and strategic pivot toward high-margin battery-grade products.
Stay Sharp on the ASX
Weekly research. Independent analysis. No noise.
Free forever · Unsubscribe anytime
