Jefferies reiterates 'hold' rating, PT for Australia's Nickel Industries

Nickel Industries

01/09/2025 06:51

** Jefferies reiterates its "hold" rating for Australia's Nickel Industries NIC.AX, maintains price target at A$0.70

** Stock is up 2.9% at A$0.72

** Brokerage says stock's current valuations are "full" despite the nickel producer's diversified production growth and ability to maintain EBITDA margins in a cyclically low nickel market

** Approval from Rencana Kerja dan Anggaran Biaya (RKAB), Indonesia's annual mining permit, is critical as co's Hengjaya Mine sales might cease by late-September or early-October if co approaches the 9 mt sales cap, brokerage says

** YTD, stock down 12.7%

 (Reporting by Anjali Singh in Bengaluru)

 ((anjali.singh2@thomsonreuters.com;))