The margin compression caught me by surprise and shows why some other people have been selling. If the margins remain compressed then NIC is still a good buy at this price, just not a screaming good buy.
Given their position as a low cost producer I have rightly or wrongly taken the view that margins can only be compressed so far. Profitability will be hurt but other more expensive produces will drop out.
If margins bounce back even somewhat next quarter expect a bounce. If things remain tight then I can see this taking longer to appreciate. I'm holding.
Ann: HNI Commences Transition to Nickel Matte Production, page-18
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Last
81.0¢ |
Change
-0.020(2.41%) |
Mkt cap ! $3.471B | |||
| Open | High | Low | Value | Volume |
| 82.0¢ | 82.5¢ | 80.5¢ | $4.593M | 5.652M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 146449 | 81.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 81.5¢ | 108511 | 3 |
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| Last trade - 16.10pm 10/07/2024 (20 minute delay) ? |
| NIC (ASX) Chart |