I am a bit surprised by the pull back in SP over the last few days of trading. I do not think the market understands that NIC are going to make similar or possibly more money in the next quarter and six months and again pay a 2.5c dividend or greater. If they do not get approval for the buy back the dividend could increase again.
On top of this it is fast becoming clear that no company or industry is prepared to really pay a premium for old school so called clean nickel. The buyers of steel for batteries and cars won't, they need it cheaper. About time the brands of cars not made in China tried to remain competitive and used Indo nickel !
NIC seem to be be one of the greenest Indo nickel produces.
I thought a drift up in the SP after XD was likely, however on this I am wrong the market disagrees, well market we will see after the next quarter and then six month reporting where the SP will be my bet closer to or over a $1.00.
The market does not understand Nickel Industries
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Last
82.5¢ |
Change
-0.030(3.51%) |
Mkt cap ! $3.535B | |||
| Open | High | Low | Value | Volume |
| 85.5¢ | 85.5¢ | 81.5¢ | $51.68M | 62.61M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 10 | 1989834 | 82.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 83.0¢ | 821633 | 9 |
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| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| NIC (ASX) Chart |