How are these 5 nickel stocks faring today?

October 17, 2022 06:05 PM PDT | By Ritwika

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How are these 5 nickel stocks faring today? — Image source: © Jjumawan | Megapixl.com

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Highlights:

Australia hosts a rich deposit of nickel.

Nickel is widely used to produce essential alloys such as stainless steel.

Nickel plays an important role in manufacturing of several essential items needed in our daily lives. Nickel, along with a combination of a few other metals, is needed to form alloys that are robust, anti-rust and endure high and extreme temperatures. For instance, nickel is an important element in the production of stainless steel.

Western Australia is home to rich deposits of Nickel.

Here, we discuss the performance of five ASX-listed nickel stocks today. These nickel mining companies are Nickel Mines Limited (ASX:NIC), Poseidon Nickel Limited (ASX:POS), Pacific Nickel Mines Limited (ASX:PNM), Widgie Nickel Limited (ASX:WIN), NickelSearch Limited (ASX:NIS).

Meanwhile, the benchmark ASX 200 index (INDEXASX:XJO) opened in the green on Tuesday.

The ASX 200 index (INDEXASX:XJO) was trading at 6743.6 points, up 1.188% or 79.2 points, on ASX at 10:49 AM AEDT. The ASX 200 Materials sector (INDEXASX:XMJ) was trading at 15686.3 points, up 1.276% or 197.7 points, at 10:50 AM AEDT today.

Nickel Industries Limited (ASX:NIC)

Shares of the nickel explorer Nickel Industries Limited (ASX:NIC) opened on a positive note on ASX today. The company’s share price gained 2.702% on ASX to AU$0.760 per share at 10:33 AM AEDT today.

Over the last 12 months, Nickel Industries’ share price has declined by almost 26% and on a year-to-date (YTD) basis, the company’s share price came down by almost 48% (as of 10:33 AM AEDT today).

Established in the year 2007, Nickel Industries Limited (ASX:NIC) is listed under the Materials sector on ASX. The company deals with the production of Nickel pig iron which is a significant element that is required for producing stainless steel. The company’s is headquartered in New South Wales, Australia. At present, the company holds a market capitalisation of AU$2.02 billion.

Poseidon Nickel Limited (ASX:POS)

Image source: © Adwo | Megapixl.com

Australian nickel miner Poseidon Nickel Limited’s (ASX:POS) shares were spotted trading in the green on Tuesday morning. Poseidon’s share price gained 2% on ASX to AU$0.051 per share at 10:09 AM AEDT today.

During the last 12 months, Poseidon’s share price has fallen almost by 55% on ASX and on a YTD basis, the company’s share price fell by 57.50% on ASX (as of 10:09 AM AEDT today).

Poseidon Nickel Limited (ASX:POS) is a nickel explorer and producer that is listed under the Materials sector. The company primarily works on nickel projects in Australia. One of the significant projects owned by Poseidon is the Lake Johnston Project which constitutes about ten exploration licences and two general purpose licences, and ten mining leases. Some of the other projects that Poseidon works on are Mt Windarra and Black Swan. Poseidon’s headquarters are situated in Perth, Western Australia. The company currently holds a market capitalisation of AU$153.19 million.

Pacific Nickel Mines Limited (ASX:PNM)

Nickel miner and explorer Pacific Nickel Mines Limited’s (ASX:PNM) shares opened trading at AU$0.079 per share on ASX at 10:33 AM AEDT on Tuesday morning.

In the last one-year, Pacific Nickel’s share price has declined by almost 44% and on a YTD basis, Pacific Nickel’s share price fell by more than 12% on ASX (as of 10:33 AM AEDT today).

With a market capitalisation of AU$22.66 million, Pacific Nickel Mines Limited is engaged in the exploration of several metals and minerals such as nickel, gold, silver, copper, tin, and base metals. The company is primarily based in New South Wales, Australia. Some of the major projects of Pacific Nickel are Jejevo Nickel Project and Kolosori Nickel Project in the Solomon Islands.

Widgie Nickel Limited (ASX:WIN)

Image source: © Robertohunger | Megapixl.com

Australian nickel exploration company Widgie Nickel Limited’s (ASX:WIN) shares were spotted trading significantly higher on ASX on Tuesday morning. Widgie’s shares opened 4.081% higher at AU$0.225 per share at 10:24 AM AEDT today.

Over the last 12 months, Widgie’s share price has marked a gain of almost 16% on ASX, and on a YTD basis, the company’s share price gained by 2% on ASX (as of 10:24 AM AEDT today).

With a market capitalisation of AU$61.49 million, Widgie Nickel Limited is an ASX-listed nickel explorer and miner. The company is the owner of the Mt Edwards Nickel Project in Western Australia. Widgie’s is headquartered in Perth, Australia.

NickelSearch Limited (ASX:NIS)

Nickel mining company NickelSearch Limited’s (ASX:NIS) shares were spotted trading at AU$0.160 per share at 10:09 AM AEDT on Tuesday morning.

Within the last 12 months, NickelSearch’s share price has come down by 20% on ASX and on a YTD basis, the company’s share price declined by almost 6% on ASX (as of 10:09 AM AEDT today).

NickelSearch Limited is a Perth based nickel explorer and miner with a market capitalisation of AU$16.65 million.

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