Nickel Asia Corporation (NCKAF) Stock Analysis
Educational signal · not a buy or sell recommendation · How to read this
P/E 8.50 means the share price is 8.50 times one year of earnings per share; the S&P 500 usually sits near 20-25. Market cap $1.10B is the value of all shares combined. Beta 0.79: the stock has moved about 21% less than the S&P 500.
For informational purposes only. Not financial advice. Machine-generated analysis by Stock Expert AI — model gemini-2.0-flash, generated Mar 16, 2026. Editorial oversight is systemic, not page-by-page. Editorially accountable: Sedat ANAK, Founder and Editor-in-Chief. Data sources: Financial Modeling Prep, Yahoo Finance, SEC EDGAR
Quick AnswerNickel Asia Corporation (NCKAF) trades at $0.07875. Nickel Asia Corporation is a leading nickel ore producer in the Philippines, exporting saprolite and limonite ores for stainless steel production. Market cap: $1.10B, Sector: Basic materials.
Price as of Sep 11, 2026 · Last analyzed: Mar 16, 2026Analyst Coverage for NCKAF: NCKAF does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates NCKAF against Basic Materials peers across nine fundamental dimensions and assigns a neutral fundamental signal based on the underlying data.
These figures come from statements filed 12 months ago — the most recent this company has published.
No score published: this stock trades under $10,000 on a typical day, so the price beside it is not one you could reliably act on.
NCKAF: 2/2 scored disciplines lean bullish. Dominant signal: Moon AI bullish.
How is this calculated? →AI simulations built from the named investors' published principles. Not affiliated with, endorsed by, or the opinion of these individuals. How these lenses are built
Nickel Asia Corporation (NCKAF) Materials & Commodity Exposure
Nickel Asia Corporation, a Philippine-based miner, focuses on nickel ore production for the stainless steel industry, boasting a 22.4% profit margin and a 4.75% dividend yield. The company diversifies its operations through services and renewable energy projects within the industrial materials sector.
What Is the Investment Thesis for NCKAF?
With a P/E ratio of 8.50 and a profit margin of 22.4%, the company demonstrates strong profitability. A dividend yield of 4.75% offers an attractive income stream for investors. Growth catalysts include increasing demand for nickel in electric vehicle batteries and stainless steel production. However, investors may want to evaluate the risks associated with commodity price volatility and regulatory changes in the mining sector. The company's beta of 0.79 suggests lower volatility than the overall market.
Based on FMP financials and quantitative analysis
NCKAF Key Highlights
Market capitalization of $1.10B, reflecting its significant presence in the nickel mining industry.
- Profit margin of 22.4%, indicating efficient operations and strong profitability.
- Gross margin of 51.2%, showcasing the company's ability to manage production costs effectively.
- Dividend yield of 4.75%, providing an attractive return for income-seeking investors.
- Beta of 0.79, suggesting lower volatility compared to the broader market.
Who Are NCKAF's Competitors?
NCKAF is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | MoonshotScore |
|---|---|---|---|---|
| AFMJF Alphamin Resources Corp. | $1.05 | -1.41% | $1.35B | 499-signal |
| CTJHF CITIC Resources Holdings Limited | $0.05 | 0.00% | $393M | — |
| KLKNF Klöckner & Co SE | $13.86 | 0.00% | $1.38B | — |
| MNXMF FireFly Metals Ltd | $1.24 | +2.48% | $812M | — |
| OMZNF Osisko Metals Incorporated | $1.20 | -2.36% | $1.07B | 499-signal |
| CMP Compass Minerals International, Inc. | $25.07 | -2.18% | $1.05B | 565-pillar |
| NTCPF NorthIsle Copper and Gold Inc. | $3.05 | -4.69% | $1.01B | 489-signal |
| ARAFF Arafura Rare Earths Limited | $0.15 | +0.03% | $911M | 489-signal |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance This table mixes two scoring engines — compare a number only with others carrying the same tag.
What Are NCKAF's Key Strengths?
Established nickel ore producer with significant market share.
- Diversified operations across mining, services, and renewable energy.
- Strategic location of mines in the Philippines.
- Strong financial performance with high profit and gross margins.
What Are NCKAF's Weaknesses?
Exposure to commodity price volatility.
- Dependence on a limited number of key customers.
- Potential for environmental liabilities associated with mining operations.
- Regulatory risks in the mining sector.
What Could Drive NCKAF Stock Higher?
Increasing demand for nickel in electric vehicle batteries.
- Expansion of renewable energy projects.
- Potential strategic partnerships with international companies by 2028.
- Planned investments in processing facilities starting in 2027.
- Potential revenue generation from new mines starting in 2029.
What Are the Key Risks for NCKAF?
Fluctuations in nickel prices.
- Increased competition from other nickel producers.
- Changes in environmental regulations.
- Geopolitical risks in the Philippines.
- Limited financial disclosure due to OTC listing.
What Are the Growth Opportunities for NCKAF?
- Growth opportunity 1: Increased demand for nickel in electric vehicle (EV) batteries represents a significant growth opportunity. As the global EV market expands, the demand for nickel-containing batteries will rise substantially. Nickel Asia Corporation is well-positioned to capitalize on this trend by increasing its production of high-purity nickel products suitable for battery manufacturing.
- Growth opportunity 2: Expansion of renewable energy projects offers diversification and sustainable revenue streams. Nickel Asia Corporation's involvement in renewable energy generation aligns with global trends towards cleaner energy sources. Investing in solar, wind, and other renewable energy projects can reduce the company's reliance on mining and provide a stable source of income. Government incentives and increasing demand for renewable energy further support this growth opportunity. These projects are expected to contribute significantly to revenue starting in 2027.
- Growth opportunity 3: Exploration and development of new mining properties can increase nickel reserves and production capacity. Nickel Asia Corporation's ongoing exploration activities for nickel, gold, and copper provide opportunities to discover new deposits and expand its mining operations. Successful exploration can lead to increased production and revenue. The timeline for bringing new mines into production typically ranges from 3 to 5 years, with potential revenue generation starting in 2029.
- Growth opportunity 4: Strategic partnerships with international companies can enhance access to technology and markets. Collaborating with established players in the stainless steel and battery industries can provide Nickel Asia Corporation with access to advanced technologies, distribution networks, and new markets. These partnerships can accelerate growth and improve competitiveness. Potential partnerships are being explored with companies in Japan and South Korea, with expected benefits materializing by 2028.
- Growth opportunity 5: Vertical integration into nickel processing can increase value-added revenue and reduce reliance on raw ore exports. Investing in processing facilities to convert nickel ore into higher-value products, such as nickel sulfate for batteries, can significantly increase revenue and profitability. This strategy reduces the company's exposure to fluctuations in raw ore prices and enhances its competitive position. Initial investments in processing facilities are planned for 2027, with production expected to commence in 2029.
What Are NCKAF's Competitive Advantages?
- Established presence in the Philippine nickel mining industry.
- Ownership of strategically located mines with significant nickel reserves.
- Diversified operations across mining, services, and renewable energy.
- Long-standing relationships with key customers in the stainless steel industry.
What Does NCKAF Do?
Founded in 1977 and headquartered in Taguig City, Philippines, Nickel Asia Corporation (NAC) has grown to become a prominent nickel ore producer. The company's core business revolves around the mining and exploration of nickel saprolite and limonite ore, essential components in stainless steel production. NAC operates four mines strategically located across the Philippines: Rio Tuba, Taganito, Cagdianao, and Taganaan. These mines extract nickel ore, which is then exported for processing into ferronickel and nickel pig iron. Beyond nickel, NAC also explores properties for gold and copper, diversifying its mineral portfolio. The company's operations extend beyond mining to include services such as the chartering of landing craft transport and the provision of marine services, as well as aircraft leasing. NAC is also involved in renewable energy generation, trading, manufacturing, real estate, and agribusiness activities, showcasing its commitment to diversification and sustainable growth.
What Products and Services Does NCKAF Offer?
- Mines and explores nickel saprolite and limonite ore.
- Exports nickel ore for use in stainless steel production.
- Operates four mines in the Philippines: Rio Tuba, Taganito, Cagdianao, and Taganaan.
- Explores properties for gold and copper.
- Charters out landing craft transport and provides marine services.
- Leases aircraft.
- Engages in renewable energy generation.
- Involved in trading, manufacturing, real estate, and agribusiness activities.
How Does NCKAF Make Money?
- Generates revenue from the sale of nickel ore to stainless steel producers.
- Provides mining and exploration services.
- Derives income from chartering landing craft and leasing aircraft.
- Generates revenue from renewable energy projects.
What Industry Does NCKAF Operate In?
Nickel Asia Corporation operates within the industrial materials sector, specifically focusing on nickel mining. The global nickel market is driven by demand from the stainless steel industry and, increasingly, the electric vehicle (EV) battery sector. The company competes with other nickel producers in the Philippines and internationally. The industry is subject to commodity price fluctuations and environmental regulations. Market trends include a growing emphasis on sustainable mining practices and increasing demand for high-purity nickel for EV batteries.
Who Are NCKAF's Key Customers?
- Stainless steel manufacturers in Asia.
- Ferronickel and nickel pig iron producers.
- Companies requiring marine transport services.
- Businesses needing aircraft leasing services.
Research confidence
Enough evidence to be useful, with gaps worth knowing about.
- ● Scoring coverage unknown
- ● Price is current
- ● Latest filing 73 days ago
- ● No analyst coverage
- ● Reported in PHP, converted to USD
MoonshotScore History
Recorded daily since 2026-08-23 · 19 snapshots
| 2026-08-23 | 56 |
| 2026-08-26 | 56 |
| 2026-08-29 | 56 |
| 2026-09-01 | 56 |
| 2026-09-04 | 56 |
| 2026-09-07 | 56 |
| 2026-09-10 | 56 |
What changed?
The score has stayed at 56.
Over the same 18 days the stock moved +0.0%.
Nickel Asia Corporation (NCKAF) Valuation Context
Valued at $1.10B, NCKAF is classified as a small-cap stock.
NCKAF Revenue & Earnings Trend
In Q2 FY2026, NCKAF generated $220.9M in top-line revenue, marking a sequential increase of 358.5%. The company recorded net income of $58.7M, with diluted EPS of $0.00. Quarter-over-quarter revenue has been mixed, typical for a small-cap company operating in Basic Materials. Across the four most recent quarters, NCKAF averaged $0.00 in diluted EPS.
Company Profile
Nickel Asia Corporation operates in the Industrial Materials industry within the Basic Materials sector. It is headquartered in Taguig City, PH. The company is led by CEO Martin Antonio G. Zamora. NCKAF has traded publicly since 2022.
Key Financial Metrics
Return on equity for Nickel Asia Corporation stands at 16.0%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is 9.4%, showing how much profit it generates from its asset base. NCKAF trades at a trailing price-to-earnings ratio of 8.50, below the Basic Materials sector average of ~21.40x. Its free cash flow yield is 3.2%, a gauge of the cash the business throws off relative to its market value. A current ratio of 2.34 indicates the company holds enough short-term assets to cover its near-term obligations. Its earnings yield is 7.1%, the inverse of the P/E and a quick read on earnings relative to price.
Financial Health
Nickel Asia Corporation's Piotroski F-Score is 8/9, a 9-point checklist of profitability, leverage and efficiency — signaling solid underlying fundamentals. Its Altman Z-Score of 3.55 places it in the safe zone, indicating low near-term bankruptcy risk.
NCKAF Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis · FY 2025
Bull Case vs Bear Case
Bull Case
- Established nickel ore producer with significant market share.
- Diversified operations across mining, services, and renewable energy.
- Strategic location of mines in the Philippines.
- Strong financial performance with high profit and gross margins.
Bear Case
- Exposure to commodity price volatility.
- Dependence on a limited number of key customers.
- Potential for environmental liabilities associated with mining operations.
- Regulatory risks in the mining sector.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · March 2026
Recent Quarterly Results
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q2 FY2026 | $221M | $59M | $0.0041 |
| Q1 FY2026 | $48M | $6M | $0.0004 |
| Q4 FY2025 | $104M | $17M | $0.0012 |
| Q3 FY2025 | $161M | $49M | $0.0035 |
Q2 FY2026 · filed 30 Jun 2026 · Financial Modeling Prep
Based on FMP financials and quantitative analysis · Converted to USD from PHP at today's rate
NCKAF Latest News
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Nickel Asia Corporation (NCKAF) Q2 2026 Earnings Call Transcript
seekingalpha.com · Aug 7, 2026
NCKAF Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations collected by Financial Modeling Prep for NCKAF.
Price Targets
Wall Street price target analysis for NCKAF.
NCKAF MoonshotScore
MoonshotScore is Stock Expert AI's proprietary 0-100 research rating, not a buy or sell recommendation. No MoonshotScore is published for NCKAF; grades run from A+ (80-100) to F (below 30).
Leadership: Martin Antonio G. Zamora
President and CEO
Martin Antonio G. Zamora serves as the President and CEO of Nickel Asia Corporation. His leadership is pivotal in guiding the company's strategic direction and operational efficiency. He has extensive experience in the mining industry, with a focus on nickel production and resource management. His background includes a strong understanding of the Philippine regulatory environment and international market dynamics. He is responsible for overseeing the company's mining operations, exploration activities, and diversification efforts into renewable energy.
Track Record: Under Martin Antonio G. Zamora's leadership, Nickel Asia Corporation has maintained its position as a leading nickel ore producer in the Philippines. He has overseen the expansion of the company's mining operations and the diversification into renewable energy projects. Key achievements include maintaining strong financial performance despite commodity price volatility and navigating complex regulatory challenges. He has also focused on sustainable mining practices and community engagement.
NCKAF OTC Market Information
The OTC Other tier, also known as the Pink Market, represents the lowest tier of the over-the-counter (OTC) market. Unlike stocks listed on major exchanges like the NYSE or NASDAQ, companies on the OTC Other tier often have limited financial disclosure requirements and may not meet minimum listing standards. This tier typically includes speculative or distressed companies, making it a higher-risk investment compared to exchange-listed stocks. Information availability can be limited, and regulatory oversight is less stringent.
- OTC Tier: OTC Other
- Limited financial disclosure increases the risk of investing in NCKAF.
- Lower trading volume and wider bid-ask spreads can lead to price volatility.
- The OTC Other tier is associated with higher-risk companies and speculative investments.
- Potential for fraud or manipulation due to less stringent regulatory oversight.
- Difficulty in obtaining reliable information about the company's operations and financial condition.
- Verify the company's registration and legal standing with the Philippine Securities and Exchange Commission (SEC).
- Obtain and review the company's most recent financial statements, if available.
- Assess the company's management team and their track record.
- Research the company's industry and competitive landscape.
- Evaluate the company's risk factors and potential liabilities.
- Consult with a qualified financial advisor before investing.
- Understand the risks associated with investing in OTC stocks.
- Nickel Asia Corporation is an established nickel ore producer with operating mines in the Philippines.
- The company has a history of exporting nickel ore to international markets.
- The company is involved in renewable energy projects, indicating a commitment to sustainability.
- The company has a market capitalization of over $1 billion, suggesting a significant presence in the industry.
- The company has a dividend yield of 4.75%, which could indicate financial stability.
What Investors Ask About Nickel Asia Corporation (NCKAF) — Basic Materials
Is NCKAF a good stock?
Stock Expert AI does not rate NCKAF buy, sell or hold. Nickel Asia Corporation has no MoonshotScore yet; read the financial checkup, analyst consensus and risks directly. Whether it fits is your call: check what it sells, whether it earns, what the price assumes, and what would prove you wrong.
What does Nickel Asia Corporation do?
Nickel Asia Corporation is a leading nickel ore producer in the Philippines. The company engages in the mining and exploration of nickel saprolite and limonite ore, which are essential for the production of stainless steel. It operates four mines in the Philippines and exports its ore to manufacturers in Asia.
What are the key factors to evaluate for NCKAF?
Evaluate NCKAF on fundamentals, analyst consensus, and risk factors. P/E: 8.50x vs the S&P 500's ~20-25x. With a P/E ratio of 8.50 and a profit margin of 22.4%, the company demonstrates strong profitability. Not financial advice.
How frequently does NCKAF data refresh on this page?
NCKAF's price was last updated on Sep 11, 2026 and refreshes on page view during U.S. market hours; the quote is a provider snapshot, not an exchange feed. Fundamentals update after quarterly filings; the MoonshotScore recalculates nightly; news aggregates continuously.
What has driven NCKAF's recent stock price performance?
Nickel Asia Corporation (NCKAF) moves on earnings results, analyst revisions, sector rotation, and market sentiment. Notable catalyst: Established nickel ore producer with significant market share. See the News tab for the latest drivers. Past performance does not predict future results.
Should investors consider NCKAF overvalued or undervalued right now?
Nickel Asia Corporation (NCKAF) trades at 8.50x earnings. Compare P/E, P/S, and EV/EBITDA against sector peers for a full view.
Can I buy fractional shares of NCKAF?
Yes, most major brokerages offer fractional shares of Nickel Asia Corporation (NCKAF) with no minimum purchase requirement. This means you can invest any dollar amount regardless of the share price. Check your brokerage platform for specific terms, fees, and fractional share availability.
How can I track NCKAF's earnings and financial reports?
Nickel Asia Corporation (NCKAF) reports quarterly earnings approximately 4-6 weeks after each fiscal quarter ends. You can track earnings dates, revenue and EPS estimates, and actual results on this page's Financials tab. Earnings surprises (beats or misses) often cause significant short-term price moves. Your brokerage can send alerts for NCKAF earnings announcements.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- OTC market data may be less reliable than exchange-listed data.