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The latest update is out from Nickel 28 Capital Corp ( (TSE:NKL) ).
Nickel 28 Capital Corp. has announced plans for a normal course issuer bid to repurchase up to 7,050,819 of its common shares, or about 8.1% of its outstanding stock, through the TSX Venture Exchange, with all shares bought to be cancelled. Management argues that the current trading price significantly undervalues the company relative to its net asset value, and believes that using excess liquidity to buy back shares will be accretive to net asset value per share and increase remaining shareholders’ proportional ownership; the bid, to be administered by Haywood Securities and supported by an automatic purchase plan during blackout periods, is subject to TSXV approval and could run for up to 12 months, reflecting a continued focus on capital return and balance-sheet-driven value creation for investors.
The most recent analyst rating on (TSE:NKL) stock is a Hold with a C$0.94 price target. To see the full list of analyst forecasts on Nickel 28 Capital Corp stock, see the TSE:NKL Stock Forecast page.
Spark’s Take on TSE:NKL Stock
According to Spark, TipRanks’ AI Analyst, TSE:NKL is a Neutral.
The score is primarily constrained by weak and volatile financial performance, including recent losses and low earnings visibility, despite a healthier leverage profile and improved TTM cash flow. Technicals are supportive due to an uptrend above major moving averages, but extreme overbought signals raise near-term risk. Valuation is also a headwind because losses make the negative P/E less informative and there is no dividend support.
To see Spark’s full report on TSE:NKL stock, click here.
More about Nickel 28 Capital Corp
Nickel 28 Capital Corp. is a nickel-cobalt producer with an 8.56% joint-venture interest in the long-life Ramu Nickel-Cobalt operation in Papua New Guinea, providing shareholders exposure to metals critical for electric vehicle adoption. The company also manages a portfolio of ten nickel and cobalt royalties on development and exploration projects across Canada, Australia and Papua New Guinea, positioning it as a diversified participant in the battery metals supply chain.
Average Trading Volume: 46,216
Technical Sentiment Signal: Buy
Current Market Cap: C$73.83M
Learn more about NKL stock on TipRanks’ Stock Analysis page.