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: 2026: A long-awaited reminder of Russian metals' might

August 31, 2026 at 09:49 pm IST

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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%		-.--%	-

09/09	A balanced copper exposure trumps the often-chased pure-play one
31/08	Nornickel: 2026: A long-awaited reminder of Russian metals' might

Market Cap	4.06TCr 3,42700Cr 3.53TCr 3.34TCr 3.04TCr 5.67TCr 3,88400Cr 5.7TCr 40TCr 15TCr 1,97400Cr 15TCr 15TCr 6,31900Cr	P/E 2024	30.9x	P/E 2025	20.8x
Enterprise Value	4.97TCr 4,19900Cr 4.33TCr 4.1TCr 3.72TCr 6.95TCr 4,75900Cr 6.99TCr 49TCr 19TCr 2,41900Cr 19TCr 18TCr 7,74200Cr	EV / Sales 2024	3.92x	EV / Sales 2025	3.61x
Free-Float	11.59%	Yield 2024 *	-	Yield 2025	-

09/09	A balanced copper exposure trumps the often-chased pure-play one
31/08	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
17/08	Aluminium vs. Copper: an interesting battle is underway
31/07	Russia's Nornickel doubles H1 net profit, says it will discuss interim dividend	RE
31/07	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
28/07	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
16/06	Precious metals' sudden and brutal sell-off

09/09	A balanced copper exposure trumps the often-chased pure-play one
31/08	Nornickel: 2026: A long-awaited reminder of Russian metals' might
17/08	Aluminium vs. Copper: an interesting battle is underway
28/07	An unusual yet intriguing pair trade opportunity
25/06	Copper miners cave in, but the rest seem collateral damage

Nornickel ADR Share Price

Stocks

GMKN

RU0007288411

Specialty Mining & Metals

Valuation: Nornickel ADR

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Managers and Directors: Nornickel ADR

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Analysis / Opinion

Annual profits - Rate of surprise

10/09	Nornickel : launches five unique wells at the Pelyatka gas field	PU
07/09	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
31/07	Nornickel : reports first half 2026 interim consolidated IFRS financial results	PU
28/07	Nornickel : Norda begins tunnelling at Taimyrsky Mine	PU

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%
21/25/21	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%	-.--%	-.--%	-.--%	3.18TCr
SOUTHERN COPPER CORPORATION	+3.28%	+1.01%	+90.75%	+168.48%	16TCr
FREEPORT-MCMORAN INC.	+2.33%	-0.51%	+57.13%	+75.50%	9.94TCr
CMOC GROUP LIMITED	-2.75%	-8.73%	+35.55%	+173.23%	5.43TCr
JX ADVANCED METALS CORPORATION	+0.63%	-4.52%	+115.25%	-	2.24TCr
CHINA TUNGSTEN AND HIGHTECH MATERIALS CO.,LTD	-1.84%	+2.49%	+223.59%	+520.80%	2.11TCr
JIANGXI COPPER COMPANY LIMITED	+1.20%	-3.55%	+34.56%	+160.19%	1.95TCr
KOREA ZINC COMPANY, LTD.	-0.97%	-8.25%	+10.86%	+101.62%	1.69TCr
SUMITOMO METAL MINING CO., LTD.	+2.11%	+0.47%	+120.58%	+100.70%	1.68TCr
BOLIDEN AB	+3.25%	-1.35%	+60.68%	+73.50%	1.52TCr
Average	+0.84%	-4.24%	+74.89%	+152.67%	4.58TCr
Weighted average by Cap.	+1.55%	-1.85%	+72.65%	+143.68%

	2024	2025
Net sales	1.25TCr 1,05900Cr 1.09TCr 1.03TCr 938.83Cr 1.75TCr 1,20000Cr 1.76TCr 12TCr 4.76TCr 61TCr 4.71TCr 4.6TCr 1,95300Cr	1.38TCr 1,16300Cr 1.2TCr 1.13TCr 1.03TCr 1.93TCr 1,31800Cr 1.94TCr 14TCr 5.23TCr 67TCr 5.17TCr 5.06TCr 2,14400Cr
Net income	131.3Cr 11TCr 114.36Cr 108.24Cr 98Cr 183.71Cr 13TCr 184.62Cr 1.29TCr 498.49Cr 6.39TCr 493.24Cr 482.26Cr 20TCr	194.7Cr 16TCr 169.58Cr 160.5Cr 145.82Cr 272.42Cr 19TCr 273.77Cr 1.91TCr 739.2Cr 9.48TCr 731.41Cr 715.13Cr 30TCr
Net Debt	858.6Cr 73TCr 747.84Cr 707.78Cr 643.07Cr 1.2TCr 82TCr 1.21TCr 8.43TCr 3.26TCr 42TCr 3.23TCr 3.15TCr 1,33800Cr	913.8Cr 77TCr 795.92Cr 753.28Cr 684.41Cr 1.28TCr 88TCr 1.28TCr 8.97TCr 3.47TCr 44TCr 3.43TCr 3.36TCr 1,42400Cr

5 years	145		240.5
10 years	76.77		281.14