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MarketScreener Homepage  >  Equities  >  PHILIPPINE STOCK EXCHANGE, INC.  >  Nickel Asia Corp    NIKL   PHY6350R1069

NICKEL ASIA CORP

(NIKL)
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Hard for Philippines to cover Indonesia nickel ore supply outage - Nickel Asia CFO

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09/02/2019 | 03:34am EDT

MANILA (Reuters) - The Philippines' top nickel ore miner, Nickel Asia Corp, said on Monday the country will find it difficult to cover a supply outage resulting from an Indonesian ban on nickel ore exports, even if local miners try to boost their output.

Nickel Asia, which accounts for about half of the Philippines' nickel ore output, expects to book windfall gains from the supply disruption that will keep nickel prices high, senior vice president and CFO Emmanuel Samson told Reuters.

The supply cut will be "huge", he said. "How do you cover that? The Philippines will have a difficult time covering that."

Indonesia and the Philippines are China's biggest suppliers of nickel ore, used in stainless steel and batteries.

Indonesia will effectively stop nickel ore exports from Jan. 1, 2020, Bambang Gatot Ariyono, the mining ministry's director general for coal and minerals, confirmed on Monday, as the country moves ahead with efforts to process more of its resources at home.

(Reporting by Enrico dela Cruz; editing by Richard Pullin)

Stocks mentioned in the article
ChangeLast1st jan.
LME NICKEL CASH -0.71% 18200 End-of-day quote.74.33%
NICKEL ASIA CORP End-of-day quote.
SAMSON HOLDINGS LIMITED 0.00% 0.335 End-of-day quote.-37.96%
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Financials (PHP)
Sales 2019 17 086 M
EBIT 2019 5 925 M
Net income 2019 2 708 M
Debt 2019 -
Yield 2019 1,50%
P/E ratio 2019 22,2x
P/E ratio 2020 20,1x
Capi. / Sales2019 3,52x
Capi. / Sales2020 3,30x
Capitalization 60 149 M
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 2
Average target price 3,51  PHP
Last Close Price 4,40  PHP
Spread / Highest target -13,4%
Spread / Average Target -20,3%
Spread / Lowest Target -27,3%
EPS Revisions
Managers
NameTitle
Gerard H. Brimo Chairman & Chief Executive Officer
Martin Antonio G. Zamora President, Executive Director & SVP-Marketing
Jose B. Anievas Senior VP, Chief Operating & Risk Officer
Emmanuel L. Samson Chief Financial Officer & Senior Vice President
Rolando R. Cruz Vice President-Project Development & Research
Sector and Competitors