** Analysts at Jefferies lower price target on Australia's Nickel Industries NIC.AX to A$0.65 from A$0.80; maintain "hold" rating on stock
** The Indonesia-focussed miner slumped nearly 30% on Tuesday after reports that Indonesia is mulling raising royalties paid by mining companies from commodities like coal, nickel and copper, among others
** Brokerage says the proposed changes to Indonesia's royalty structure would see a drop of 15% in long-term earnings from current NIC projects
** Heightened geopolitical and policy instability has eroded our confidence in NIC's earnings visibility and growth outlook, says brokerage
** Jefferies flags that decreased visibility on project earnings outlook and increased policy volatility could see reduced investment in Indonesia nickel supply
** Increasing risk of working capital build, soft nickel prices and decreasing liquidity over 2025 are near-term headwinds — Jefferies
** Stock down 26.7% YTD
(Reporting by Rishav Chatterjee in Bengaluru)
((Rishav.Chatterjee@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.