Canaccord raises Nickel Industries stock target to AUD 1.15

Published on 10/13/2026 at 07:21 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Canaccord raised Nickel Industries stock target 4.50 percent on October 12, 2026. First-half 2026 revenue rose 13.10 percent to US$938.4 million.

Key points in brief

Canaccord raised its Nickel Industries target to AUD 1.15 from AUD 1.10 on October 12, 2026.
First-half 2026 revenue increased 13.10 percent to US$938.4 million.
Adjusted EBITDA rose to US$247.6 million from US$169.9 million in the first half of 2026.
The company expects its next quarterly report on October 27, 2026.

Nickel Industries, AU0000018236, Illustration mit AI erstellt.

Canaccord raised its target for Nickel Industries stock to AUD 1.15 from AUD 1.10, a 4.50 percent increase, in a TradingView report dated October 12, 2026. The target change gives the latest analyst context for the ASX-listed nickel producer as its high-pressure acid leach expansion moves into the next operating stage.

Three milestones shaped the year

On July 29, 2026, Nickel Industries reported a 4.00 percent sequential increase in second-quarter ore production, according to MarketScreener. On August 26, 2026, the company reported first-half sales revenue of US$938.4 million, up from US$829.7 million, while adjusted EBITDA increased to US$247.6 million from US$169.9 million, as Kapitales Research reported on September 18, 2026. The current event was Canaccord's AUD 1.15 target, up from AUD 1.10, dated October 12, 2026.

What does expansion mean for earnings?

The first-half revenue comparison implies growth of 13.10 percent, while adjusted EBITDA rose 45.67 percent from the previous corresponding period. The operating mix matters: the RKEF segment generated adjusted EBITDA of US$146.7 million, compared with US$78.3 million previously, and the Hengjaya Mine produced 8.1 million wet metric tonnes of nickel ore in the first half of 2026, according to Kapitales Research.

A counterweight is execution at the Excelsior Nickel Cobalt project. TipRanks reported on September 14, 2026 that unusually dry conditions constrained the project to 30.00 percent of nameplate capacity, although Hengjaya delivered record monthly ore sales. This creates a clear split between stronger established operations and a slower battery-materials ramp-up.

Next reporting dates are close

The next scheduled quarterly report is October 27, 2026, followed by another quarterly report on January 28, 2027, according to InvestSMART. Those dates place the next operating update before the market can fully assess the October target revision.

Market value and listing

Nickel Industries had a market capitalization of AUD 3.1 billion and an ASX 52-week range of AUD 0.66 to AUD 1.13 as of October 13, 2026. The company operates nickel ore mining and downstream processing assets in Indonesia, with exposure to nickel pig iron, nickel matte and mixed hydroxide precipitate.