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

September 18, 2026 at 05:21 am

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

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

Market Cap	40.55B 3,356B 36.15B 33.49B 30.45B 57.13B 3,845B 58.07B 402B 158B 2,010B 152B 149B 6,424B	P/E 2024	30.9x	P/E 2025	20.8x
Enterprise Value	49.69B 4,112B 44.29B 41.03B 37.31B 70.01B 4,711B 71.16B 492B 194B 2,462B 186B 183B 7,872B	EV / Sales 2024	3.92x	EV / Sales 2025	3.61x
Free-Float	37.98%	Yield 2024 *	-	Yield 2025	-

09-18	Nornickel: Despite all geopolitical issues, the underlying strength is real
09-09	A balanced copper exposure trumps the often-chased pure-play one
08-31	Nornickel: 2026: A long-awaited reminder of Russian metals' might
08-26	Russia's Nornickel recommends 6-month dividend of 1.85 roubles a share	RE
08-26	Russia's Nornickel says board recommends 6-month dividend of 1.85 roubles per share	RE
08-17	Aluminium vs. Copper: an interesting battle is underway
07-31	Russia's Nornickel doubles H1 net profit, says it will discuss interim dividend	RE
07-31	Nornickel H1 net profit doubled to $2 billion, company says	RE
07-30	Public Joint Stock Company Mining and Metallurgical Company Norilsk Nickel Reports Earnings Results for the Half Year Ended June 30, 2026	CI
07-28	An unusual yet intriguing pair trade opportunity
06-25	Copper miners cave in, but the rest seem collateral damage
06-24	Russia's copper concentrate output seen up 10% in 2026, Nornickel says	RE
06-23	Russia's Norilsk Nickel sees 2026 global palladium surplus of 0.3 million ounces	RE

09-23	Are Russian metals returning to the West-
09-18	Nornickel: Despite all geopolitical issues, the underlying strength is real
09-09	A balanced copper exposure trumps the often-chased pure-play one
08-31	Nornickel: 2026: A long-awaited reminder of Russian metals' might
08-17	Aluminium vs. Copper: an interesting battle is underway

Nornickel ADR Stock

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GMKN

RU0007288411

Specialty Mining & Metals

Valuation: Nornickel ADR

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Analysis / Opinion

Annual profits - Rate of surprise

10-01	Nornickel : Shareholders of Norinickel approved interim dividend for 6m2026	PU
09-23	Size matters: Nornickel releases large sturgeon juveniles in Dudinka	PU
09-10	Nornickel : launches five unique wells at the Pelyatka gas field	PU
09-07	Nornickel : and BelAZ agree to establish a joint venture	PU
08-11	High Court Orders Russian Oligarch Vladimir Potanin To Disclose Documents Held By Norilsk Nickel In Major Commercial Dispute	AQ

04-23	La fortune des milliardaires russes a augmenté de 11% en un an, malgré la guerre et les sanctions-Forbes
04-23	Magazin: Russische Milliardäre steigern Vermögen auf Rekordwert
01-28	Rusa Nornickel prevé una producción de níquel de entre 193.000 y 203.000 toneladas en 2026
01-27	Cinese Anta Sports compra 29% Puma per 1,5 mld euro ma non punta al 100%
25-02-21	Putin dice que Rusia debe acelerar sus planes de extracción de litio

Manager	Title	Age	Since
Vladimir Potanin CEO	Chief Executive Officer	65	2012-12-16
Sergey Malyshev DFI	Director of Finance/CFO	57	2013-03-20
Evegeny Fyodorov COO	Chief Operating Officer	48	2025-09-28

Director	Title	Age	Since
Sergei Batekhin BRD	Director/Board Member	61	2019-12-31
Marianna Aleksandrovna Zakharova BRD	Director/Board Member	50	2010-05-31
Andrey Bugrov CHM	Chairman	74	2022-06-02

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	+0.89%	-3.11%	+55.78%	+211.56%	169B
FREEPORT-MCMORAN INC.	+0.33%	-4.83%	+65.32%	+97.98%	99.86B
CMOC GROUP LIMITED	-2.96%	-10.39%	+2.59%	+174.56%	48.81B
ANTOFAGASTA PLC	-1.18%	-11.58%	+24.58%	+149.44%	44.72B
SOCIEDAD MINERA CERRO VERDE S.A.A.	+1.75%	+0.38%	+58.13%	+127.45%	24.24B
FIRST QUANTUM MINERALS LTD.	-0.24%	-5.90%	+18.35%	+18.43%	21.54B
JX ADVANCED METALS CORPORATION	-1.64%	-15.43%	+56.04%	-	18.75B
JIANGXI COPPER COMPANY LIMITED	+1.28%	-4.88%	+0.89%	+176.71%	17.75B
KGHM POLSKA MIEDZ	+1.16%	-6.28%	+68.86%	+197.41%	16.88B
Average	+0.01%	-5.54%	+35.05%	+128.17%	49.37B
Weighted average by Cap.	+0.11%	-5.46%	+42.99%	+148.99%

	2024	2025
Net sales	12.54B 1,037B 11.17B 10.35B 9.41B 17.66B 1,188B 17.95B 124B 48.82B 621B 47.03B 46.05B 1,986B	13.76B 1,139B 12.27B 11.36B 10.33B 19.39B 1,305B 19.71B 136B 53.6B 682B 51.64B 50.56B 2,180B
Net income	1.31B 109B 1.17B 1.08B 986M 1.85B 124B 1.88B 13B 5.11B 65.06B 4.93B 4.82B 208B	1.95B 161B 1.74B 1.61B 1.46B 2.74B 185B 2.79B 19.28B 7.58B 96.48B 7.3B 7.15B 308B
Net Debt	8.59B 711B 7.65B 7.09B 6.45B 12.1B 814B 12.3B 85.04B 33.44B 425B 32.21B 31.54B 1,360B	9.14B 756B 8.15B 7.55B 6.86B 12.87B 866B 13.09B 90.5B 35.59B 453B 34.28B 33.57B 1,448B

5 years	145		240.5
10 years	76.77		281.14