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Nico Resources Ltd (NC1) fair value: what the stock is really worth

As of Nov 9, 2026: fair value (intrinsic value) of Nico Resources Ltd stock A$0.04, price A$0.09, that is 54.2% below the price, quality 31 out of 100. Rating: strongly overvalued. Calculated from audited financials with one of our 26 valuation models and 37 quality factors, updated daily.

1 model in detailBear A$0.0239 to bull A$0.0464 Growth analysisrevenue history, year by year Quality 31/100 in detail37 factors, each one shown Compared with its peersrank on every measure, side by side

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Basic Materials AU · ISIN AU0000189284

Thin data Nov 4, 2026

Nico Resources Ltd

NC1 · AU

Very expensive, weak quality

Our calculation puts a fair price 54% below what the stock costs today.

Expensive Growth (revenue 5y +239.8 %/yr in AUD)

Revenue last quarter 22% below a year ago.

Fair value A$0.0389 · Strongly overvalued

Quality 31/100

Loss-making · -75.1% net margin (TTM)

Negative free cash flow

Trails peers (1/9)

Narrow moat 13/100 · thin data

Thin data

⟳ Cyclical⚠ Dilution

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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

White line = price, green steps = our fair value per fiscal year. As of Nov 4, 2026.

How to read this chart

58‑month range A$0.0680 – A$1.73 · fair‑value band A$0.0239 – A$0.0464 · the A$0.0850 price screens above the A$0.0389 fair value. As of Nov 4, 2026.

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Company profile

NICO Resources Limited engages in the acquisition, exploration, and development of mineral properties in Australia. Its flagship project is the Wingellina nickel-cobalt project located in Western Australia. The company was incorporated in 2021 and is based in Perth, Australia.

Stock analysis

Nico Resources Ltd (NC1) currently trades at A$0.0850, while our model-based Fair Value estimate is A$0.0389, 54% below the price, so the stock looks overvalued today.

Valuation

How firm this estimate is: it rests on 1 models at a data quality of 96/100, which puts the data coverage at low.

Scenario range: A$0.0239 (bear) to A$0.0464 (bull), the price of A$0.0850 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 31/100 (below-average quality), in the Basic Materials sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Nico Resources Ltd reported revenue of A$1.7M in FY2025 versus A$5.9K in FY2021, a compound +310.9%/yr. Reported net income was −A$989K in FY2026.

Key figures

Market cap A$11.6M (≈ $8.0M) Micro · P/S ratio 9.97 · EPS (TTM) A$−0.0100 · Return on equity −5.1% · Return on assets (EBIT) −15.7% (5-year average) · Operating margin −20.8% · Revenue (TTM) A$1.3M · Revenue growth (YoY) −22.2%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 13 out of 100 (low confidence).

What moves the price

The share trades about 76% below its 52-week high and at its 52-week low, currently below its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at −8% fair-value upside, at −54%, NC1 screens richer than that median.

Fair Value models

Bear A$0.0239 Fair Value A$0.0389 Bull A$0.0464

Price A$0.0850 · Downside -54.2%

Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.

Best data coverage

NCAV (Graham) A$0.0200 A$0.0400 A$0.0500 51

All 1 models by family

Asset-Based

NCAV (Graham) A$0.0200 A$0.0400 A$0.0500 51

The fair value above starts from this blend and is adjusted for dilution from new shares.

Open the full fair value analysis →

Quality Score breakdown

Overall quality 31/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 1

How much profit the company makes from its sales and capital

Quality Growth 53

Are margins and returns getting better?

Cashflow 12

Do the profits arrive as real cash?

Financial strength 79

Debt, balance sheet and risk of trouble

Investment 45

Does it invest with discipline instead of growing at any price?

Low Volatility 0

How calm the share price moves, does not count

Price momentum 16

Price momentum of the last 3 to 12 months, does not count

Near the 52-week high 1

Distance to the 52-week high, does not count

New shares 0

Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 44/100

The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Revenue growth 1 year

+66.1%

Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.

+194.6%

Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.

+239.8%

Start year 2020 (pandemic)

Revenue growth 6 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.

+181.5%

’19

’20

’21

’22

’23

’24

’25

Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.

−855.8% (2020) → −85.0% (2025)

What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss

not computed

NC1 screens overvalued: fair value 54% below the price. Compare with BHP Group →

Compare Nico Resources Ltd with another stock

Price, fair value, quality and upside side by side.

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Other Industrial Metals & Mining · 372 stocks

Beats the industry median on 1/8 measures

Overall it trails its industry peers.

Valuation

Quality Score 31 · Below median

Fair Value upside −54.2% · Below median

Profitability

Return on assets −4.6% · Below median

Net margin (12 months) −75.1% · Bottom 25%

Operating margin (12 months) −20.8% · Bottom 25%

Growth and dividend

Revenue growth (quarter YoY) −22.2% · Bottom 25%

Valuation Multiplesvs Other Industrial Metals & Mining median · lower = cheaper

P/B 0.56× · Cheapest 25%

P/S (12 months) 8.83× · Pricier than median

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Other Industrial Metals & Mining stocks, each showing price versus our Fair Value estimate.

Stock	Price	Fair Value	vs Fair Value	Compare
Vedanta Limited VEDL	₹261.75	₹334.17	+28%	vs NC1
Saudi Arabian Mining Company 1211	58.25 SAR	64.96 SAR	+12%	vs NC1
Hindustan Zinc Limited HINDZINC	₹568.10	₹624.91	+10%	vs NC1
Western Mining Co 601168	¥27.56	¥30.32	+10%	vs NC1
Boliden AB BOL	kr 503.40	kr 464.45	−8%	vs NC1
BHP Group BHP	A$59.20	A$47.85	−19%	vs NC1
Zhejiang Huayou Cobalt Co 603799	¥33.04	¥25.57	−23%	vs NC1
Korea Zinc Company 010130	960,000 KRW	649,125 KRW	−32%	vs NC1
CMOC Group 603993	¥13.29	¥6.82	−49%	vs NC1
China Tungsten And Hightech Materials Co 000657	¥38.65	¥4.44	−89%	vs NC1

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Nico Resources Ltd: fair value per Fair Value Calculator

<a href="https://www.fairvalue-calculator.com/stock/NC1?utm_source=embed&amp;utm_medium=badge" target="_blank" rel="nofollow noopener"><img src="https://www.fairvalue-calculator.com/embed/NC1.AU.svg" width="360" height="84" alt="Nico Resources Ltd: fair value per Fair Value Calculator" style="border:0;max-width:100%" loading="lazy"></a>

Cite: Fair Value Calculator (2026). "Nico Resources Ltd Fair Value". https://www.fairvalue-calculator.com/stock/NC1

Frequently asked questions

Is Nico Resources Ltd (NC1) overvalued or undervalued?

As of Nov 4, 2026, our model estimates a fair value of A$0.0389 versus a price of A$0.0850, about 54% lower (overvalued).

What is the fair value of NC1?

Our model-based fair value for Nico Resources Ltd is A$0.0389 (as of Nov 4, 2026), built from audited fundamentals. The current price: A$0.0850.

What is the quality score of NC1?

Nico Resources Ltd has a Quality Score of 31/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.

What is the price target for Nico Resources Ltd (NC1)?

Our model-based price target is the fair value of A$0.0389 (as of Nov 4, 2026) from 1 valuation models. Cautious scenario A$0.0239, optimistic scenario A$0.0464. It is a calculation from audited fundamentals, not an analyst target.

What is the Nico Resources Ltd stock forecast for 2026?

Our models put fair value at A$0.0389, about 54% lower versus a price of A$0.0850 (overvalued). Cautious scenario A$0.0239, optimistic scenario A$0.0464. The calculation is refreshed regularly with new filings.

What is the revenue of Nico Resources Ltd (NC1)?

Nico Resources Ltd reported trailing-twelve-month revenue of about A$1.3M (latest available figure, as of Nov 4, 2026).

What is the intrinsic value of Nico Resources Ltd (NC1)?

Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Nico Resources Ltd it is A$0.0389 per share (as of Nov 4, 2026), against a price of A$0.0850. It is the blended result of 1 valuation models in 1 family (Asset-Based).

Is Nico Resources Ltd stock overvalued or undervalued in 2026?

As of Nov 4, 2026, NC1 trades above its calculated fair value: price A$0.0850, fair value A$0.0389, a gap of about −54% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.

Is fair value the same as the market price of NC1?

No. The price is what the market pays today (A$0.0850); the fair value is what the company's own numbers justify (A$0.0389). For Nico Resources Ltd the two are A$0.0461 per share apart. That gap is exactly why we show both numbers side by side.

How much is Nico Resources Ltd worth?

The market values Nico Resources Ltd at about A$11.6M (market capitalisation, as of Nov 4, 2026). Per share that is A$0.0850; our models calculate a fair value of A$0.0389 per share.

What do the bullish and bearish scenarios say about NC1?

Our models span a range for Nico Resources Ltd: cautious scenario A$0.0239, base A$0.0389, optimistic A$0.0464 per share (as of Nov 4, 2026, price A$0.0850). The range comes from different growth and margin assumptions, not from analyst opinions.

How solid is the balance sheet of Nico Resources Ltd (NC1)?

Balance-sheet figures for Nico Resources Ltd (as of Nov 4, 2026): return on equity −5.1%. They feed the Quality Score of 31/100, which measures business quality independently of the share price.

How far is NC1 from its 52-week high?

Nico Resources Ltd trades at A$0.0850, about 76% below its 52-week high of A$0.3500 and at the low of A$0.0850 (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of A$0.0389 is for.

Which stocks are comparable to Nico Resources Ltd?

From the same area (Basic Materials) we also value BHP Group, Saudi Arabian Mining Company, CMOC Group, Hindustan Zinc Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.

Is Nico Resources Ltd stock attractive at the current price?

The data as of Nov 4, 2026: price A$0.0850, calculated fair value A$0.0389 (−54%), Quality Score 31/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.

How is the fair value of NC1 calculated?

We run Nico Resources Ltd through 1 models from 1 family: Asset-Based. Every model gets the same audited fundamentals; the fair value of A$0.0389 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.

Is it still worth investing in stocks now?

The global stock market currently sits 13.3% above its aggregate fair value. Nico Resources Ltd itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.

What is the share price of Nico Resources Ltd (NC1)?

The closing price on Nov 9, 2026 was A$0.0850. Our model-based fair value is A$0.0389, about 54% lower (overvalued). We carry closing prices from our data provider, not a live tick.

What should I pay attention to with Nico Resources Ltd right now?

The price sits above even our optimistic bull case (A$0.0464). The favourable scenario is already priced in. Weak quality (31/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (A$0.0239 to A$0.0464) leaves room in how you read the outcome.

Key figures of Nico Resources Ltd

How large is the market capitalisation of Nico Resources Ltd (NC1)?

The market capitalisation of Nico Resources Ltd is A$11.6M (≈ $8.0M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.

What is the P/S ratio of Nico Resources Ltd (NC1)?

The price-to-sales ratio of Nico Resources Ltd is 9.97 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.

What are the earnings per share of Nico Resources Ltd (NC1)?

Earnings per share at Nico Resources Ltd are A$−0.0100. Earnings per share over the last twelve months: total profit spread across every single share.

What is the return on equity of Nico Resources Ltd (NC1)?

The return on equity (ROE) of Nico Resources Ltd is −5.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.

What is the EBIT return on assets of Nico Resources Ltd (NC1)?

On an EBIT basis the return on assets of Nico Resources Ltd is −15.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.

What is the operating margin of Nico Resources Ltd (NC1)?

The operating margin of Nico Resources Ltd is −20.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.

How fast is revenue growing at Nico Resources Ltd (NC1)?

Revenue at Nico Resources Ltd is growing −22.2% versus a year earlier (3y avg +195%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.

How fast are earnings growing at Nico Resources Ltd (NC1)?

Earnings per share at Nico Resources Ltd are growing −35.0% versus a year earlier. How much earnings per share grew versus a year earlier.

How much free cash flow does Nico Resources Ltd (NC1) generate?

The free cash flow of Nico Resources Ltd is −A$1.1M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.

How much net cash does Nico Resources Ltd (NC1) hold?

Nico Resources Ltd holds more cash than debt, A$902K net (fiscal year 2026). The company holds more cash than debt, a safety cushion.

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