Nickel mining stocks

The best nickel mining stocks depend on your portfolio and investment goals — while volatility can be ideal for day traders, long-term investors will want to look to stocks with steadier gains over time.

Our picks for the best nickel mining stocks

We round up a selection of stocks in or related to the nickel industry, weighting the list more heavily towards popular mid- and large-cap US stocks.

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1. Canada Nickel Company (CNC)

Canada Nickel Company Inc. , together with its subsidiary, engages in the exploration, discovery, and development of nickel sulphide assets. It owns a 100% interest in the Crawford Nickel-Cobalt Sulphide project located in northern Ontario, Canada.

• Previous close price: C$1.33
• Market capitalization: $176,043,520
• 1 year performance: -35.44%

Buy CNC stock on National Bank Direct Brokerage

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2. Sibanye Gold Ltd ADR (SBSW)

Sibanye Stillwater Limited, together with its subsidiaries, operates as a precious metals mining company in South Africa, the United States, Europe, and Australia. The company produces gold; platinum group metals (PGMs), including palladium, platinum, rhodium, iridium, and ruthenium; chrome; nickel; and silver, cobalt, and copper. It owns the East Boulder and Stillwater mines located in Montana, the United States; and Columbus metallurgical complex, which smelts the material mined to produce PGM-rich filter cake, as well as conducts PGM recycling activities.

• Previous close price: $7.09
• Market capitalization: $5,154,876,416
• 1 year performance: N/A
• P/E ratio: 5.2519

Buy SBSW stock on National Bank Direct Brokerage

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3. Materion Corporation (MTRN)

Materion Corporation, through with its subsidiaries, produces advanced engineered materials used in semiconductor, industrial, aerospace and defense, automotive, energy, consumer electronics, and telecom and data center in the United States, Asia, Europe, and internationally. It operates through Performance Materials, Electronic Materials, and Precision Optics segments. The Performance Materials segment offers advanced engineered solutions comprising beryllium and non-beryllium containing alloy systems and custom engineered parts in strip, bulk, rod, plate, bar, tube, and other customized shapes.

• Previous close price: $104.31
• Market capitalization: $2,152,372,736
• 1 year performance: 32.40%
• P/E ratio: 22.2687

Buy MTRN stock on National Bank Direct Brokerage

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4. Nickel Industries (NIC)

Nickel Industries Limited engages in nickel ore mining and nickel pig iron production operations in Singapore and Indonesia. It holds an 80% interest in the Hengjaya Mine that covers an area of 5,983 hectares located in the Morowali Regency of Central Sulawesi; 80% interest in the Ranger Nickel project; 80% interest in the Angel Nickel project; and 70% interest in the Oracle Nickel project. The company was formerly known as Nickel Mines Limited and changed its name to Nickel Industries Limited in June 2022.

• Previous close price: A$0.91
• Market capitalization: $2,570,618,682
• 1 year performance: -32.56%
• P/E ratio: 9.71

Buy NIC stock on National Bank Direct Brokerage

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5. GMK Norilskiy Nikel PAO (GMKN)

Public Joint Stock Company Mining and Metallurgical Company Norilsk Nickel, together with its subsidiaries, operates as a metals and mining company in Russia, Europe, Asia, North and South America, and CIS countries. The company operates through GMK Group, South Cluster, KGMK Group, NN Harjavalta, GRK Bystrinskoye, Other Mining, and Other Non-Metallurgical segments. It explores for, extracts, and refines ore and nonmetallic minerals; and sale of base and precious metals produced from ore.

• Previous close price: ₽14,668.00
• Market capitalization: $2,247,092,000,000
• 1 year performance: -29.14%
• P/E ratio: 4.6144

Buy GMKN stock on National Bank Direct Brokerage

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6. Poseidon Nickel (POS)

Poseidon Nickel Limited engages in the exploration, development, mining, and production of mineral properties in Australia. The company primarily explores for nickel and gold deposits. It holds interests in the Mt Windarra, Black Swan, and Lake Johnston nickel projects located in Western Australia.

• Previous close price: A$0.05
• Market capitalization: $125,949,143
• 1 year performance: -34.29%
• P/E ratio: 0

Buy POS stock on National Bank Direct Brokerage

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7. WisdomTree Nickel (NICK)

N/A. . .

• Previous close price: $19.69
• 1 year performance: -24.82%

Buy NICK stock on National Bank Direct Brokerage

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8. Jinchuan Group International Resources Co (2362)

Jinchuan Group International Resources Co. Ltd, an investment holding company, primarily engages in the mining operations. The company primarily explores for copper, cobalt, copper concentrates, and copper blisters.

• Previous close price: HK$0.43
• Market capitalization: $5,500,923,904
• 1 year performance: -51.69%
• P/E ratio: 0

Buy 2362 stock on National Bank Direct Brokerage

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9. Glencore (GLEN)

Glencore plc engages in the production, refinement, processing, storage, transport, and marketing of metals and minerals, and energy products in the Americas, Europe, Asia, Africa, and Oceania. It operates through two segments: Marketing Activities and Industrial Activities. The company engages in production and marketing copper, cobalt, nickel, zinc, lead, chrome ore, ferrochrome, vanadium, aluminum, alumina, and iron ore; and coal, crude oil, refined products, and natural gas, as well as oil exploration/production and refining/distribution.

• Previous close price: 422.60p
• Market capitalization: $52,028,342,272
• 1 year performance: -15.03%
• P/E ratio: 4.0038

Buy GLEN stock on National Bank Direct Brokerage

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10. BHP Group (BHP)

BHP Group Limited operates as a resources company in Australia, Europe, China, Japan, India, South Korea, the rest of Asia, North America, South America, and internationally. The company operates through Copper, Iron Ore, and Coal segments. It engages in the mining of copper, silver, zinc, molybdenum, uranium, gold, iron ore, and metallurgical and energy coal.

• Previous close price: 2,287.00p
• Market capitalization: $168,528,576,512
• 1 year performance: -12.96%
• P/E ratio: 7.8591

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Note: The dollar amounts in the table below are in Canadian dollars.

Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.

Bottom line

While it's possible to turn a profit investing in nickel mining stocks, keep in mind that — like any investment — nickel mining stocks are not immune to risk. These stocks are subject to fluctuating conditions — both in the market and in the nickel industry, so carefully vet your picks before you invest. And if you're new to investing, or if it's been awhile since you've taken a critical look at your investing accounts, compare brokers to make sure you're getting the best features in your trading account.