Nickel Industries' (ASX:NIC) results distract from the current improving nickel market dynamics and the growing volumes the company is forecast to deliver over 2026, said Jefferies in a Tuesday note.
The company reported Monday a 2025 loss of $0.0132 per share, compared with a loss of $0.0393 a year earlier. Analysts polled by FactSet expected the company to break even.
The investment firm added that the company's work plan and budget approvals increased despite a challenging quota environment, which is reflected in January earnings before interest, tax, depreciation, and amortisation of about $50 million.
Jefferies maintained its buy rating on NIC and decreased its price target to AU$1.10 from AU$1.20.
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