Australia's Nickel Industries jumps most in over 3 yrs on record output, buyback

Nickel Industries

29/01/2024 23:58

** Shares of Nickel Industries  NIC.AX  rise as much as 15%
to A$0.690, hitting their highest level since Jan. 5
    ** Stock currently up 14.6%, sees best day since Oct. 16,
2020
    ** Specialty miner reported record output of 3,450 metric
tons of nickel metal from its rotary kiln electric furnace
    ** Co added it intends to start an on-market share buyback
of up to $100 mln over 12 months
    ** Says it intends to return between 30% and 60% of its free
cash flow to shareholders via regular dividends
    ** Stock among top gainers on benchmark S&P/ASX 200 index
 .AXJO  
    ** Stock has fallen 1.7% this year as of last close
    

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((shivangi.lahiri@thomsonreuters.com))