In today’s briefing:
- Nickel Asia: Valuation Low On Cyclical Slump But Limited Catalysts
Nickel Asia: Valuation Low On Cyclical Slump But Limited Catalysts
- Nickel Asia is market leader for Philippines nickel ore and will remain a top player with decades of reserves leaving it well-positioned for the country’s move up the value chain
- However, short-term its share price has slumped on continued weakness in nickel, from a global oversupply and weakening demand, but also its removal from the PSEi
- While the 2025E P/B at 0.85x on a 6.4% ROE is likely near cyclical lows and the valuation is inexpensive for such a major player, there are few immediate catalysts
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
