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Sherritt International Corp T.S

Alternate Symbol(s):  SHERF

Sherritt International Corporation is a Canada-based company engaged in the mining and refining of nickel and cobalt metals essential for the adoption of electric vehicles through hydrometallurgical processes. The Company is engaged in the production of high purity nickel and cobalt metals from lateritic ore. Its technologies group creates solutions for oil and mining companies around the world to improve environmental performance. The Company offers a range of products including Nickel, Cobalt, Fertilizers and Other Products. The Nickel products category includes standard grade, steel grade, and nickel powders. The Cobalt products category includes cobalt briquettes and cobalt powders. The Company’s Fertilizers product category includes anhydrous ammonia, granular ammonium sulfate, crystalline ammonium sulfate-super salt, and crystalline ammonium sulfate-standard grade. The Other products category includes sulfuric acid, zinc sulfide, and copper sulfide.


TSX:S - Post by User

Bullboard Posts
Post by PUNJABIon Sep 21, 2015 8:23am
227 Views
Post# 24121107

Globe says Desjardins, TD both rate Sherritt "hold"

Globe says Desjardins, TD both rate Sherritt "hold"These guys are always late. They come out with the predictions when the stock has already come down.


Globe says Desjardins, TD both rate Sherritt "hold"


Sherritt International Corp (C:S)
Shares Issued 293,885,466
Last Close 9/18/2015 $0.94


Monday September 21 2015 - In the News

The Globe and Mail reports in its Saturday, Sept. 19, edition that Desjardins Securities analyst Jackie Przybylowski continues to rate Sherritt International (94 cents) "hold" with above average risk. The Globe's Gillian Livingston writes in the Eye On Equities column Ms. Przybylowski boosted her share target by a nickel to $2.15. Analysts on average target the shares at $3.58. Sherritt has cut its one-cent-per-share quarterly dividend and cut its capital spending budget for this year, with additional cuts expected for next year. Ms. Przybylowski says this is to help improve its balance sheet in a challenging market. The analyst says: "These moves will provide additional liquidity, which may be used to fund the Ambatovy operations ... and to fund Ambatovy's financial completion certificate (Sherritt's share is about $50-million). ... We note that funds with a dividend mandate could now be precluded from holding positions in the company." Sherritt's removal from the S&P/TSX composite index could lead to "selling pressure over the next few weeks." Meanwhile, TD Securities downgraded the stock to "hold" from "speculative buy" with a 12-month target price of $1.25 per share.

Bullboard Posts