Nickel 28 Wins TSXV Nod for Share Buyback as It Seeks to Unlock Value

The latest announcement is out from Nickel 28 Capital Corp ( (TSE:NKL) ).

Nickel 28 Capital Corp., a nickel-cobalt producer with a stake in the Ramu operation in Papua New Guinea, also oversees a portfolio of royalties on nickel and cobalt projects in Canada, Australia and Papua New Guinea. Its assets provide investors leveraged exposure to metals central to the build-out of electric vehicle supply chains.

Nickel 28 has received TSX Venture Exchange approval to launch a normal course issuer bid allowing it to repurchase up to 7,050,819 common shares, or about 8.1% of its outstanding stock, over a one-year period starting February 23, 2026. Management views the shares as trading at a substantial discount to net asset value and sees the buyback, to be administered by Haywood Securities under an automatic purchase plan, as a key tool in its capital return strategy to enhance shareholder value.

Repurchases will be made on the open market through Canadian trading systems, with the pace and scale of buying determined by market conditions, share price and available cash. The program, which can be ended early at the company’s discretion, signals confidence in Nickel 28’s underlying asset base and may support the stock while potentially improving per-share metrics for existing shareholders.

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. The company also manages a portfolio of 10 nickel and cobalt royalties on development and exploration projects in Canada, Australia and Papua New Guinea, providing exposure to metals critical to electric vehicles.

Average Trading Volume: 73,026

Technical Sentiment Signal: Buy

Current Market Cap: C$95.55M

For detailed information about NKL stock, go to TipRanks’ Stock Analysis page.