Earnings Report /
Russia

Nornickel: 4Q20 production results – 2020 target met, 2021 production target reiterated

  • Nornickel (MNOD:LI; O/W; TP $36.3/GDR) reported its 4Q20 production results

  • Nornickel reiterated its 2021 production target communicated earlier which may imply 3%y/y decrease in nickel production

  • Nornickel continues to enjoy favourable price dynamics which supports our O/W recommendation

Boris Krasnozhenov
Boris Krasnozhenov

Head of Research (Managing Director)

Yulia Tolstykh
Yulia Tolstykh

Analyst, Metals & Mining

Alfa
29 January 2021
Published by