Sherritt International Corp T.S

Greg Barnes

[rkhosla]

I guess we are not getting a note from TD - though contrarian seemed to have a quote from Greg Barnes no note has been issues since Q1 earnings and I am not sure where he sourced that...

[Contrarian333]

Barnes issued a note May 12th.  Nothing very interesting other than his failure to consider non cash comp correctly in his "modelling".

[Ventoux]

The 10.75% PIK notes traded as high as $55.50 on Wednesday as per IIROC this morning. The notes are quite pregnant with accrued as the next interest payment date is July 31. 

[Ernieandbert]

And he deosn't even mention the bond buyback in his 1Q22 note.  He is so off it is ridiculous.  For the love of God, the co gives you the sensitivityto Ni for S's share of Ebitda on a slide in their most recent deck...you don;t even have to do the calclation yourself adn you don't have to be a PEng/CFA/CA.  Crazy how off he was.    I bet they will buy back as

[rkhosla]

Hhhmmm thanks guys - the latest I have available to me on Webbroker is his April 21st note.  Not sure why I don't get access to his more recent one.  

[Ernieandbert]

His May 12th note wasn't worth reading anyway.  None of the Analyst reports are imo.  Each of these guys cover 15 or so much larger cos and S is the smallest and most orphaned with zero Insitutional trading, very little capital markets advisory fees, in cuba w/ Helms Burton, etc, etc. 

[Contrarian333]

I agree.  And that is how we get a mispriced security.