Trending Nickel Stocks – IGO, RRL, MCR

  • Apr 22, 2019 AEST
  • Team Kalkine
Trending Nickel Stocks – IGO, RRL, MCR

IGO, RRL and MCR are the trending Nickel stocks to watch. With significant market capitalisations, all three stocks have generated positive YTD and stable returns over a short-term period. Let us dig deeper into the financial performance along with the performance of these stocks to get a better overview.

Independence Group NL (ASX: IGO)

Independence Group NL (ASX: IGO) pleased to announce that a recent 9,600 metres Reverse Circulation drilling program has begun and is underway at the Lake Mackay Project held in the Joint Venture with Prodigy Gold (IGO 70% and PRX 30% stakes). Recently, the group announced that one of its substantial holder Commonwealth Bank of Australia and its related associates reduced its stake from 7.12% to 6.0%.

On the financial performance front, the revenue and other income of A$356 million as compared to A$355 million in H1 FY18, and underlying EBITDA of A$131 million were broadly unchanged with the higher production and sales from Nova and Tropicana, offset by the absence of revenue from the Jaguar and Long Operations that exited the portfolio at the end of FY18.

On the price-performance front, the stock of Independence Group NL was trading at $4.770, with a market capitalisation of $2.82 billion (At market close on 18 April 2019). The stock has generated a YTD return of 31.40% with returns of 10.93% and 20.15% over the past six months and three months period, respectively.

Regis Resources Limited (ASX: RRL)

Regis Resources Limited (ASX: RRL) recently updated that it has commenced the development of underground mine at Rosemont, with decline development advanced to over 150 metres. The underground mineral resource of the company has increased by 37% to 1.7Mt at a grade of 5.6 g/t Au for 314,000 oz.

On the financial performance front, the company reported revenues of $317.2 million, with 186,276 ounces of gold sold at an average price of $1,696 per ounce. The net profit after tax of $79.9 million and net profit margin of 25% reflected the ongoing profitability of the Duketon operations.

On the price-performance front, the stock of Regis Resources Limited was trading at $4.840, with a market capitalisation of $2.47 billion (At market close on 18th April 2019). The stock has generated a YTD return of 2.53% with returns of 21.75% over the past six months as of 17 April 2019.

Mincor Resources NL (ASX: MCR)

Mincor Resources NL (ASX: MCR) updated the market about the operations and overview of the company in its latest investors presentation. With its dominant land position at Kambalda - a world-class and prolific nickel and gold mining district, the group has a strategy to re-establish sustainable high-grade nickel mining. It is ideally positioned to capitalise on the strong nickel market outlook.

On the financial performance front, Mincor Resources reported an operating loss after income tax of $4,466,000 for the half-year ending 31 December 2018, as compared to $2,583,000 in the prior corresponding period. The loss for the half-year included $3,402,000 of exploration and evaluation expenditure incurred and expensed and administrative expenses of $1,451,000. 9,135 ounces of gold was sold during the period at an average price of A$1,691/oz, which generated gross revenue of $15,472,000.

On the price-performance front, the stock of Mincor Resources NL was trading at $0.460, with a market capitalisation of $106.84 million (At market close on 18th April 2019). The stock has generated a significant YTD return of 36.62% with returns of 31.08% and 30.20% over the past six months and three months period, respectively.


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