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 12:20 pm

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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 3,123B 35.47B 32.72B 30.22B 57.34B 3,868B 58.3B 391B 154B 1,905B 152B 149B 6,550B	P/E 2024	30.9x	P/E 2025	20.8x
Enterprise Value	49.69B 3,826B 43.47B 40.09B 37.03B 70.26B 4,739B 71.44B 479B 188B 2,335B 187B 183B 8,026B	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

Latest news : 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
Sergey Stepanov COO	Chief Operating Officer	49	20/05/2021

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
Sergey Malyshev BRD	Director/Board Member	57	01/01/2023

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	+0.80%	+2.22%	+79.55%	+163.02%	147B
FREEPORT-MCMORAN INC.	+1.64%	+0.90%	+32.70%	+54.92%	88.44B
CMOC GROUP LIMITED	+1.80%	-5.51%	+115.52%	+216.46%	52.57B
CHINA TUNGSTEN AND HIGHTECH MATERIALS CO.,LTD	-1.68%	-16.65%	+499.60%	+660.79%	25.11B
JX ADVANCED METALS CORPORATION	+2.38%	-3.01%	+367.71%	-	23.32B
JIANGXI COPPER COMPANY LIMITED	+3.65%	-1.58%	+103.26%	+162.35%	18.59B
BOLIDEN AB	-0.38%	-1.44%	+69.88%	+59.73%	15.32B
XIAMEN TUNGSTEN CO.,LTD.	-2.10%	-15.59%	+189.01%	+230.46%	14.83B
KOREA ZINC COMPANY, LTD.	+3.99%	+4.30%	+22.13%	+129.23%	14.17B
Average	+1.11%	-3.48%	+147.94%	+186.33%	43.09B
Weighted average by Cap.	+1.14%	-1.33%	+111.08%	+161.75%

	2024	2025
Net sales	12.54B 965B 10.96B 10.11B 9.34B 17.72B 1,196B 18.02B 121B 47.45B 589B 47.07B 46.04B 2,025B	13.76B 1,060B 12.04B 11.1B 10.26B 19.46B 1,313B 19.79B 133B 52.1B 647B 51.68B 50.55B 2,223B
Net income	1.31B 101B 1.15B 1.06B 978M 1.86B 125B 1.89B 12.66B 4.97B 61.69B 4.93B 4.82B 212B	1.95B 150B 1.7B 1.57B 1.45B 2.75B 186B 2.8B 18.77B 7.37B 91.48B 7.31B 7.15B 314B
Net Debt	8.59B 661B 7.51B 6.93B 6.4B 12.14B 819B 12.34B 82.77B 32.5B 403B 32.24B 31.54B 1,387B	9.14B 704B 7.99B 7.37B 6.81B 12.92B 872B 13.14B 88.09B 34.59B 429B 34.31B 33.56B 1,476B

5 years	145		259.5
10 years	76.77		281.14