Nickel Industries (OTCMKTS:NICMF) Shares Up 0.8% – Here’s What Happened

Nickel Industries Limited (OTCMKTS:NICMF)’s stock price rose 0.8% on Wednesday . The company traded as high as $0.6435 and last traded at $0.6048. Approximately 9,700 shares traded hands during mid-day trading, an increase of 3% from the average daily volume of 9,414 shares. The stock had previously closed at $0.60.

Analysts Set New Price Targets

Separately, Jefferies Financial Group restated a “buy” rating on shares of Nickel Industries in a research note on Monday, February 16th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy”.

Nickel Industries Trading Up 0.8%

The stock has a fifty day moving average of $0.66 and a two-hundred day moving average of $0.55.

Nickel Industries Company Profile

Nickel Industries Limited is an Australia-based resources company focused on the development, construction and operation of battery-grade nickel processing assets in Indonesia. The company’s core business centers on the production of mixed hydroxide precipitate (MHP), a precursor material used in the manufacture of lithium-ion batteries for electric vehicles and energy storage systems.

The company owns and operates two high-pressure acid leach (HPAL) plants in Southeast Sulawesi. Its flagship Hengjaya Nickel project and the Ranger Nickel facility leverage Indonesia’s rich laterite nickel deposits to produce MHP for customers in Asia, Europe and North America.