Australia's Nickel Industries slips; Jefferies flags Indonesia regulatory risks

Nickel Industries

18/06/2026 02:21

Updates with share moves
** Shares of Nickel Industries' NIC.AX slip as much as 5% to A$0.955, set for their worst session since June 11, if losses hold
Jefferies says a potential inclusion of Nickel Industries' NIC.AX Nickel Pig Iron (NPI) under Indonesia's Domestic Sales Obligation is a new and emerging regulatory overhang
** The inclusion will require the miner to sell a portion of its NPI output domestically
** Brokerage says the government supports the new HPM ore pricing formula; but while this has increased royalty payments, the actual price paid for ore remains unchanged
** Reiterates "hold" rating with a price target of A$1
** Six of seven analysts rate the stock "buy" and one "hold"; their median price target is A$1.18, as per data compiled by LSEG
** Stock up ~15% YTD, as of last close
     
($1 = 1.4271 Australian dollars)

 (Reporting by Anjali Singh in Bengaluru)
 ((anjali.singh2@thomsonreuters.com;))