Nickel Industries (OTCMKTS:NICMF) Trading Up 0.8% – Time to Buy?

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

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reiterated a “buy” rating on shares of Nickel Industries in a report on Monday, February 16th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy”.

Nickel Industries Price Performance

The firm’s 50-day moving average is $0.66 and its 200 day moving average is $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.