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: A dark horse amid tricky geopolitical times

May 19, 2026 at 09:20 am

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Annual profits - Rate of surprise

Company calendar

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

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

Market Cap	40.55B 3,398B 34.75B 32.56B 29.74B 56.13B 3,866B 56.69B 384B 150B 1,951B 152B 149B 6,460B	P/E 2024	30.9x	P/E 2025	20.8x
Enterprise Value	49.69B 4,163B 42.58B 39.9B 36.45B 68.78B 4,737B 69.46B 471B 183B 2,390B 187B 183B 7,915B	EV / Sales 2024	3.92x	EV / Sales 2025	3.61x
Free-Float	11.59%	Yield 2024 *	-	Yield 2025	-

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
07-31	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
06-16	Precious metals' sudden and brutal sell-off
06-04	Russian Platinum plans November launch of Arctic mine	RE
05-29	USITC says Russian palladium does not harm America cos, ends probe	RE
05-25	Russia's Nornickel recommends no 2025 dividend in face of instability	RE
05-25	Russia's Norilsk Nickel says board recommends no 2025 dividend	RE

08-17	Aluminium vs. Copper: an interesting battle is underway
07-28	An unusual yet intriguing pair trade opportunity
06-25	Copper miners cave in, but the rest seem collateral damage
06-16	Precious metals' sudden and brutal sell-off
05-19	Nornickel: A dark horse amid tricky geopolitical times

Nornickel ADR Share Price

Stocks

GMKN

RU0007288411

Specialty Mining & Metals

Valuation: Nornickel ADR

Latest news : Nornickel ADR

Analysts' recommendations: Nornickel ADR

Press Releases: Nornickel ADR

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Quotes and Performance

Course Extremes

Managers and Directors: Nornickel ADR

Other Specialty Mining & Metals

Financials

Company Profile

Analysis / Opinion

Annual profits - Rate of surprise

08-11	High Court Orders Russian Oligarch Vladimir Potanin To Disclose Documents Held By Norilsk Nickel In Major Commercial Dispute	AQ
07-31	Nornickel : reports first half 2026 interim consolidated IFRS financial results	PU
07-28	Nornickel : Norda begins tunnelling at Taimyrsky Mine	PU
07-27	Nornickel : announces production results for 1H2026	PU
06-10	Nornickel’s 2025 non-financial reporting: almost a third of revenue invested in sustainable development	PU

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%
21/02/25	Putin dice que Rusia debe acelerar sus planes de extracción de litio

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

Director	Title	Age	Since
Sergei Batekhin BRD	Director/Board Member	60	31/12/2019
Marianna Aleksandrovna Zakharova BRD	Director/Board Member	50	31/05/2010
Andrey Bugrov CHM	Chairman	74	02/06/2022

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	+2.54%	+16.99%	+135.43%	+208.44%	186B
FREEPORT-MCMORAN INC.	+2.71%	+20.49%	+82.90%	+108.48%	115B
CMOC GROUP LIMITED	-3.00%	-2.13%	+52.48%	+217.59%	56.31B
JX ADVANCED METALS CORPORATION	+0.47%	+7.78%	+208.52%	-	22.8B
CHINA TUNGSTEN AND HIGHTECH MATERIALS CO.,LTD	-4.42%	-12.52%	+232.86%	+612.96%	21.63B
KOREA ZINC COMPANY, LTD.	+6.18%	+17.06%	+74.66%	+185.97%	21.02B
SUMITOMO METAL MINING CO., LTD.	+2.71%	+20.40%	+192.09%	+155.59%	18.96B
BOLIDEN AB	+0.98%	+10.92%	+75.08%	+101.72%	17.23B
TONGLING NONFERROUS METALS GROUP CO.,LTD.	-3.02%	-3.74%	+45.80%	+107.42%	12.83B
Average	+0.62%	+8.48%	+109.98%	+188.68%	50.29B
Weighted average by Cap.	+1.43%	+12.89%	+108.33%	+180.42%

	2024	2025
Net sales	12.54B 1,050B 10.74B 10.06B 9.19B 17.35B 1,195B 17.52B 119B 46.22B 603B 47.07B 46.04B 1,997B	13.76B 1,153B 11.79B 11.05B 10.09B 19.05B 1,312B 19.24B 130B 50.74B 662B 51.68B 50.55B 2,192B
Net income	1.31B 110B 1.13B 1.05B 963M 1.82B 125B 1.84B 12.44B 4.84B 63.15B 4.93B 4.82B 209B	1.95B 163B 1.67B 1.56B 1.43B 2.69B 186B 2.72B 18.44B 7.18B 93.65B 7.31B 7.15B 310B
Net Debt	8.59B 719B 7.36B 6.89B 6.3B 11.88B 819B 12B 81.32B 31.66B 413B 32.24B 31.54B 1,368B	9.14B 766B 7.83B 7.34B 6.7B 12.65B 871B 12.77B 86.55B 33.69B 440B 34.31B 33.56B 1,456B

5 years	145		247.84
10 years	76.77		281.14