Norilsk Nickel is the world's leading producer of nickel and palladium. The group also produces and sells silver and copper. Net sales break down by activity as follows: - sale of metals (94.8%): palladium (39% of net sales), copper (22.2%), nickel (21.2%), rhodium (6.2%), platinum (4%), gold (3.8%) and other (3.6%); - other (5.2%): primarily electricity production and transportation and logistics services.

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Specialty Mining & Metals

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Analysis / Opinion

Nornickel: Despite all geopolitical issues, the underlying strength is real

18 September 2026 at 07:21 pm AEST

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Annual profits - Rate of surprise

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End-of-day quote Moscow Micex - RTS 08/07/2022			5-day change	1st Jan Change
167.20 ^RUB	+1.03%		-.--%	-

18/09	Nornickel: Despite all geopolitical issues, the underlying strength is real
10/09	A balanced copper exposure trumps the often-chased pure-play one

Market Cap	40.55B 3,382B 36.02B 33.68B 30.7B 57.79B 3,905B 58.58B 408B 158B 1,989B 152B 149B 6,387B	P/E 2024	30.9x	P/E 2025	20.8x
Enterprise Value	49.69B 4,145B 44.14B 41.27B 37.61B 70.81B 4,784B 71.78B 499B 193B 2,437B 187B 183B 7,826B	EV / Sales 2024	3.92x	EV / Sales 2025	3.61x
Free-Float	37.98%	Yield 2024 *	-	Yield 2025	-

18/09	Nornickel: Despite all geopolitical issues, the underlying strength is real
10/09	A balanced copper exposure trumps the often-chased pure-play one
01/09	Nornickel: 2026: A long-awaited reminder of Russian metals' might
26/08	Russia's Nornickel recommends 6-month dividend of 1.85 roubles a share	RE
26/08	Russia's Nornickel says board recommends 6-month dividend of 1.85 roubles per share	RE
18/08	Aluminium vs. Copper: an interesting battle is underway
01/08	Russia's Nornickel doubles H1 net profit, says it will discuss interim dividend	RE
01/08	Nornickel H1 net profit doubled to $2 billion, company says	RE
31/07	Public Joint Stock Company Mining and Metallurgical Company Norilsk Nickel Reports Earnings Results for the Half Year Ended June 30, 2026	CI
29/07	An unusual yet intriguing pair trade opportunity
25/06	Copper miners cave in, but the rest seem collateral damage
24/06	Russia's copper concentrate output seen up 10% in 2026, Nornickel says	RE
23/06	Russia's Norilsk Nickel sees 2026 global palladium surplus of 0.3 million ounces	RE

23/09	Are Russian metals returning to the West-
18/09	Nornickel: Despite all geopolitical issues, the underlying strength is real
10/09	A balanced copper exposure trumps the often-chased pure-play one
01/09	Nornickel: 2026: A long-awaited reminder of Russian metals' might
18/08	Aluminium vs. Copper: an interesting battle is underway

Nornickel ADR Stock

Stocks

GMKN

RU0007288411

Specialty Mining & Metals

Valuation: Nornickel ADR

Latest news: Nornickel ADR

Analysts' recommendations: Nornickel ADR

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Quotes and Performance

Price Extremes

Managers and Directors: Nornickel ADR

Other Specialty Mining & Metals

Financials

Company Profile

Analysis / Opinion

Annual profits - Rate of surprise

02/10	Nornickel : Shareholders of Norinickel approved interim dividend for 6m2026	PU
23/09	Size matters: Nornickel releases large sturgeon juveniles in Dudinka	PU
10/09	Nornickel : launches five unique wells at the Pelyatka gas field	PU
08/09	Nornickel : and BelAZ agree to establish a joint venture	PU
11/08	High Court Orders Russian Oligarch Vladimir Potanin To Disclose Documents Held By Norilsk Nickel In Major Commercial Dispute	AQ

23/04	La fortune des milliardaires russes a augmenté de 11% en un an, malgré la guerre et les sanctions-Forbes
23/04	Magazin: Russische Milliardäre steigern Vermögen auf Rekordwert
28/01	Rusa Nornickel prevé una producción de níquel de entre 193.000 y 203.000 toneladas en 2026
27/01	Cinese Anta Sports compra 29% Puma per 1,5 mld euro ma non punta al 100%
22/02/25	Putin dice que Rusia debe acelerar sus planes de extracción de litio

Manager	Title	Age	Since
Vladimir Potanin CEO	Chief Executive Officer	65	17/12/2012
Sergey Malyshev DFI	Director of Finance/CFO	57	21/03/2013
Evegeny Fyodorov COO	Chief Operating Officer	48	29/09/2025

Director	Title	Age	Since
Sergei Batekhin BRD	Director/Board Member	61	01/01/2020
Marianna Aleksandrovna Zakharova BRD	Director/Board Member	50	01/06/2010
Andrey Bugrov CHM	Chairman	74	03/06/2022

Add to a list 0 selected To use this feature you must be a member Log in Sign up	Change	5-day change	1-year change	3-year change	Capi.($)
NORNICKEL ADR	+1.03%	-.--%	-.--%	-.--%	31.84B
SOUTHERN COPPER CORPORATION	+3.26%	+0.81%	+70.53%	+203.58%	168B
FREEPORT-MCMORAN INC.	+4.94%	+0.29%	+86.57%	+97.93%	99.49B
CMOC GROUP LIMITED	+0.78%	-1.17%	+7.52%	+185.62%	51.5B
ANTOFAGASTA PLC	+3.52%	+2.90%	+43.53%	+171.24%	48.06B
SOCIEDAD MINERA CERRO VERDE S.A.A.	+1.79%	+2.24%	+65.56%	+127.93%	24.34B
FIRST QUANTUM MINERALS LTD.	+4.34%	-12.01%	+26.92%	+30.69%	22.34B
JX ADVANCED METALS CORPORATION	+0.19%	+1.60%	+72.29%	-	21.76B
JIANGXI COPPER COMPANY LIMITED	-0.43%	-0.49%	+4.13%	+180.65%	18.68B
CHINA TUNGSTEN AND HIGHTECH MATERIALS CO.,LTD	-1.77%	-7.76%	+183.09%	+465.88%	17.9B
Average	+1.80%	-4.04%	+56.01%	+162.61%	50.41B
Weighted average by Cap.	+2.87%	-2.88%	+59.67%	+160.23%

	2024	2025
Net sales	12.54B 1,046B 11.13B 10.41B 9.49B 17.86B 1,207B 18.11B 126B 48.76B 615B 47.06B 46.04B 1,974B	13.76B 1,148B 12.22B 11.43B 10.42B 19.61B 1,325B 19.88B 138B 53.54B 675B 51.67B 50.55B 2,168B
Net income	1.31B 110B 1.17B 1.09B 994M 1.87B 126B 1.9B 13.19B 5.11B 64.38B 4.93B 4.82B 207B	1.95B 162B 1.73B 1.62B 1.47B 2.77B 187B 2.81B 19.56B 7.57B 95.47B 7.31B 7.15B 307B
Net Debt	8.59B 716B 7.63B 7.13B 6.5B 12.24B 827B 12.4B 86.28B 33.4B 421B 32.24B 31.54B 1,352B	9.14B 762B 8.12B 7.59B 6.92B 13.02B 880B 13.2B 91.82B 35.55B 448B 34.31B 33.56B 1,439B

5 years	145		240.5
10 years	76.77		281.14