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 11:20 am

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Annual profits - Rate of surprise

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

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

Market Cap	40.55B 3,171B 35.44B 32.7B 30.14B 56.82B 3,905B 58.08B 391B 154B 1,913B 152B 149B 6,584B	P/E 2024	30.9x	P/E 2025	20.8x
Enterprise Value	49.69B 3,886B 43.43B 40.07B 36.94B 69.62B 4,785B 71.16B 479B 188B 2,344B 187B 183B 8,068B	EV / Sales 2024	3.92x	EV / Sales 2025	3.61x
Free-Float	11.59%	Yield 2024 *	-	Yield 2025	-

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
05-21	US moves closer to prohibitive tariffs on Russian palladium	RE
05-19	Nornickel: A dark horse amid tricky geopolitical times
05-19	Time to book profits on miners!
05-18	Moscow court bars billionaire Potanin's ex-wife from pursuing claims outside Russia	RE
04-27	Russia's Nornickel says nickel output flat year-on-year at 42,000 tons in first quarter	RE

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
05-19	Time to book profits on miners!
03-30	Aluminium continues to shine!

Nornickel ADR Stock

Stocks

GMKN

RU0007288411

Specialty Mining & Metals

Valuation: Nornickel ADR

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Press Releases: Nornickel ADR

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Quotes and Performance

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Managers and Directors: Nornickel ADR

Other Specialty Mining & Metals

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Income Statement and Estimates

Analysis / Opinion

Annual profits - Rate of surprise

06-10	Nornickel’s 2025 non-financial reporting: almost a third of revenue invested in sustainable development	PU
05-26	Nornickel : board of directors recommends not to pay dividends for 2025FY to shareholders	PU
05-20	Reliable connectivity: Nornickel signs four infrastructure partnerships	PU
05-19	Strategic cyber resilience: Nornickel signs information security agreements	PU
05-19	Nornickel : unveils AI technologies at flagship industrial conference	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	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	60	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%	-.--%	-.--%	-.--%	31.84B
FREEPORT-MCMORAN INC.	-0.31%	-5.10%	+31.31%	+44.29%	83.92B
CMOC GROUP LIMITED	-4.34%	-0.51%	+115.20%	+202.26%	52.62B
CHINA TUNGSTEN AND HIGHTECH MATERIALS CO.,LTD	-9.65%	-18.67%	+360.30%	+514.36%	20.43B
JX ADVANCED METALS CORPORATION	-7.63%	-10.20%	+327.64%	-	20.84B
JIANGXI COPPER COMPANY LIMITED	-5.38%	-2.05%	+103.05%	+141.17%	17.3B
BOLIDEN AB	-1.75%	-3.00%	+66.41%	+54.46%	14.86B
KOREA ZINC COMPANY, LTD.	+0.88%	+2.90%	+24.73%	+121.53%	14.11B
XIAMEN TUNGSTEN CO.,LTD.	-7.90%	-19.07%	+137.58%	+175.20%	12.01B
MMG LIMITED	-6.16%	0.00%	+97.79%	+146.90%	11.73B
Average	-4.12%	-4.41%	+126.40%	+155.57%	27.97B
Weighted average by Cap.	-3.04%	-3.16%	+102.96%	+130.05%

	2024	2025
Net sales	12.54B 980B 10.95B 10.11B 9.32B 17.56B 1,207B 17.95B 121B 47.52B 591B 47.08B 46.04B 2,035B	13.76B 1,076B 12.03B 11.1B 10.23B 19.28B 1,325B 19.71B 133B 52.18B 649B 51.69B 50.55B 2,235B
Net income	1.31B 103B 1.15B 1.06B 976M 1.84B 126B 1.88B 12.66B 4.98B 61.93B 4.93B 4.82B 213B	1.95B 152B 1.7B 1.57B 1.45B 2.73B 187B 2.79B 18.77B 7.38B 91.83B 7.31B 7.15B 316B
Net Debt	8.59B 671B 7.5B 6.92B 6.38B 12.03B 827B 12.3B 82.76B 32.55B 405B 32.24B 31.54B 1,394B	9.14B 715B 7.99B 7.37B 6.79B 12.8B 880B 13.09B 88.08B 34.64B 431B 34.32B 33.56B 1,484B

5 years	145		258.1
10 years	76.77		281.14