Nickel Industries Supported by Indonesian Nickel Policy, Says Jefferies

MT Newswires Live

Jun 18

Nickel Industries (ASX:NIC) appears to be supported by existing Indonesian government policy on the HPM benchmark price formula, which is reinforcing nickel pricing and increasing royalty payments, Jefferies said in a note on Wednesday.

The investment firm said weaker April earnings due to downtime at its Hengjaya operations and planned maintenance at ANI/ONI power plants were offset by higher nickel prices and catch-up ore sales in May, with second-quarter adjusted core profit reaching $80 million.

The brokerage expects the company's nickel processing facility ENC to meet full production capacity by the second half of 2027 compared with previous forecast of third quarter of 2027.

Jefferies maintained a hold rating and price target of AU$1 on Nickel Industries.

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