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Nickel Mines Ltd. ( (AU:NIC) ) has shared an announcement.
Nickel Industries reported its strongest operational earnings since late 2023, delivering US$135.6 million in adjusted EBITDA for the March 2026 quarter on the back of sharply higher margins in its RKEF and HPAL divisions and a step-change in ore sales from the Hengjaya Mine. The miner benefitted from a tighter Indonesian nickel ore licensing regime that has lifted LME nickel prices and improved pricing for nickel pig iron and mixed hydroxide precipitate, while costs rose only modestly in key segments.
Operationally, ore production and sales more than doubled quarter on quarter, mining unit costs fell by over 60%, and adjusted EBITDA from mining swung from a loss to a solid profit, underscoring the leverage of Hengjaya’s expanded 2026 RKAB licence to 14.3 million wmt. The company advanced pre-commissioning at the ENC HPAL project, increased its interest in ENC to 46%, secured favourable sulfur inventories ahead of price spikes, and put in place US$450 million in new unsecured loan facilities to support commissioning and growth, despite a brief safety-related disruption following a contractor fatality.
The most recent analyst rating on (AU:NIC) stock is a Buy with a A$1.15 price target. To see the full list of analyst forecasts on Nickel Mines Ltd. stock, see the AU:NIC Stock Forecast page.
More about Nickel Mines Ltd.
Nickel Industries Ltd is an Indonesia-focused nickel producer with rotary kiln electric furnace operations, high-pressure acid leach projects and upstream mining assets. The company holds majority interests in multiple nickel pig iron plants, the Hengjaya Mine, and growing stakes in the Huayue and Excelsior HPAL projects, positioning it across the nickel value chain for stainless steel and battery materials markets.
Average Trading Volume: 13,210,617
Technical Sentiment Signal: Buy
Current Market Cap: A$4.32B
See more insights into NIC stock on TipRanks’ Stock Analysis page.