Date of Data Capture: 23/04/2020
Name: NICKEL MINES LIMITED (NIC)
Classification: Nickel Ore Mining
Current Price: $0.49
Market Capitalisation: $509 M
Forecast EBITDA Growth: 576% (cashflow +ve 2019)
Yield Estimate: 0%
Consensus Price Target: $1.08
# Covering Analysts: 3
Discount at Current Price: 120.41%
Price Target Trend (3-Month): Up-Flat -16.28%
Signal Timeframe: Monthly-Weekly-Daily
Trend Bias: Up-Down / Long-Short
Focus: Capital Growth
Set up Notes:
· This fresh nickel explorer was off to a hot start and had a great 2019, before folding under the selling pressure of the Covid19 panic - and we think it looks like a bargain now with excellent prospects and potential at a big discount here.
· Listing in 2018 and moving into profits last year, 2020 was expected to be a watershed year of strong earnings and profit growth, supported by aggressive gains across sales and margins, with this trend forecast to build and extend into 2022.
· Pricing shows a selling cascade in February that cut values in half by March, before rallying off deep support and moving higher to break through linear resistance two weeks ago – now running higher on good momentum.
Support ($): 0.45, 0.40, 0.35 & 0.30.
Resistance ($): 0.50, 0.60, 0.70 & clear.