ASX Markets

Nickel Industries is under Algo Engine buy conditions. Value-accretive acquisitions and stronger long-term earnings will underpin future share price gains.

NIC is expanding further into battery materials. The company is investing US$169 million for a 17.5% stake in the TMI HPAL project and acquiring a 36% interest in the CNE HPAL project, increasing exposure to higher-value mixed hydroxide precipitate (MHP) used in EV batteries.

EBITDA to increase from US$530 million in 2026 to US$900 million in 2027 and over US$1.1 billion in 2028, driven by production growth from new HPAL assets and improving operating leverage.

net debt is expected to transition to a net cash position by 2028, providing capacity for higher dividends and future growth investments.