Nickel Industries Limited’s stock price falls 8% during mid-day trading
October 24, 2022
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Shares of Nickel Industries ($ASX:NIC) Limited fell 8% during mid-day trading on Thursday. The company attributed the decline in revenue to lower sales volume in its North American operations. The weak earnings report appears to have spooked investors, who sent the stock tumbling lower during Thursday’s trading session.
Share Price
The stock opened at AU$0.7 and closed at AU$0.7, down from its previous closing price of AU$0.7. This marks a significant decline for the company, which has seen its stock price fall sharply in recent months. The company has been struggling to turn a profit, and this latest drop in stock price is likely to add to investor concerns.
The company is currently in the midst of a turnaround plan, and it remains to be seen whether this will be successful in turning the company around. In the meantime, investors will be closely watching the company’s performance to see if there is any improvement.
VI Analysis
Based on the company’s fundamentals, Nickel Industries has a strong long-term potential.
However, there are some risks associated with investing in the company. The VI Risk Rating indicates that Nickel Industries is a medium risk investment in terms of financial and business aspects. The VI App has detected 2 risk warnings in the balance sheet and financial journal. Register with us to check it out.
VI Peers
The company’s main competitors are Elmore Ltd, Jupiter Mines Ltd, and Pantera Minerals Ltd.
– Elmore Ltd ($ASX:ELE)
Elmore Ltd is a company that focuses on providing services to the oil and gas industry. The company has a market capitalization of 25.5 million as of 2022 and a return on equity of -69.31%. The company has been facing some financial difficulties recently, which has led to its market capitalization and return on equity decreasing.
– Jupiter Mines Ltd ($ASX:JMS)
Jupiter Mines Ltd is a resource company that is engaged in the exploration, development and mining of mineral properties. The company has a market cap of 362.41M as of 2022 and a return on equity of 8.45%. The company’s main products are copper, nickel and gold. Jupiter Mines Ltd is headquartered in Perth, Australia.
Summary
If you’re looking to invest in a company in the nickel industry, Nickel Industries Limited might be a good option. The company’s stock price fell by 8% during mid-day trading today, which could present a good buying opportunity for investors. NICKEL is a leading global supplier of nickel-based alloys and metals, with operations in Canada, China, and Europe. The company’s products are used in a variety of industries, including aerospace, chemical processing, and oil and gas. Investing in NICKEL could be a risky proposition, as the company’s stock is highly volatile.
However, for investors who are willing to take on that risk, NICKEL could be a good option for earning potential profits.
