Philippine Stocks Review: Global Ferronickel Holdings, Inc.(FNI) - What Drives its Uptrend? | EfPrime Financials
Date Updated: 26 August 2020
What drives FNI's uptrend?
Strong global Nickel prices despite low production due to the pandemic helped the company grow its income for the 1st semester. Management, however, is optimistic that it will achieve target production for the year. Read the article here.
Background
Data from edge.pse.com.ph states that FNI was founded last 3 May 1994 as Southeast Asia Cement Holdings, Inc then transferred to the current name on 22 December 2014.
FNI is a holding company with principal business interest in mineral resource exploration, mining and exporting of nickel ore. Its property comprises 4,376 ha in Surigao Del Norte, Philippines. FNI produces two types of nickel ore, namely saprolite, and limonite which can be blended into six product categories.
The net income after tax current year to date increased to P195Mn from 105Mn or an 85.5% increase. This is caused by high nickel prices. Further current year to date EPS increased to .04/share from .02/share last year. 1/
1/ Source: edge.pse.com.ph
Table showing uptrend Nickel Futures contract as of today, 27 August 2020.
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| Source: Tradingview.com - As of 27 August 2020 Table below shows uptrend chart of Nickel as of today, 27 August 2020 |
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| Source: etoro.com as of 27 August 2020 |
Company Profile
Industry - Metals and mining
Sector - Basic Materials
Address - 7F Corporate Business Center, 151 Paseo de Roxas corner Arnaiz St.,Makati City
Fundamental Analysis
Financial Ratio Company Industry
Debt/Equity Ratio .01 .59
Current Ratio 2.20 1.41
Leverage Ratio 1.40 2.31
Earnings/Share .25
PE Ratio 4.96
Return on Equity% 19.64 6.48
Source: MSN Money
Technical Analysis
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| Source: Investagrams.com as of 27 August 2020 |
Compete in the Philippine Stock Market
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| Source: Investagrams.com |
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