Sherritt International Corp. (S.TO) Buy, Sell…

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Sherritt International Corp. (S.TO)

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0.12

+0.01 (9.09%)

as of May 19, 2026, 8:00:00 pm Market Open.

93 watching

WEAK BUY

Liked the stock and what they were doing in Cuba and then along came Madagascar. A question mark from a political standpoint. They could start producing and so he is looking at it again. It’s not the kind of stock he buys in this king of environment. 6 months from now we will see how the commissioning goes.

PAST TOP PICK

(A Top Pick Jan 18/11. Up 8%.) 7.75% bond due 2015. Yielding about 6%. Sold this one and bought a bond maturing in 2018.

BUY

8% bond maturing Dec/18. Currently trading at a premium yielding 7%. Callable in Dec /17, a year early. This is attractive. If they weren't operating in Cuba and Madagascar are, this would be an investment-grade company. For risky investors only.

COMMENT

Most of the base metal companies are performing rather well. The downtrend line on the stock has finally been broken.

COMMENT

(Market Call Minute.) Roughly a 3rd coal, 3rd oil and a 3rd nickel. He is hoping that the Madagascar project comes on stream and on budget in the next 3 to 6 months. If so, the stock is very cheap.

DON'T BUY

Everything in the metals sector is cheap right now. Thermal coal has not been strong. On the metals side, he would be more focused on copper and zinc. There are others he would prefer.

TOP PICK

Bonds 8% 2018: Capture an 8% return with as little risk as possible. Have ring fenced Madagascar and Cuba plus fixed volume contracts of 15 to 20 years in Canada. Sherrit just has to stay solvent.

COMMENT

Stock is trading where it is because of their big project in Madagascar. If they pull it off and it works and there is a resumption of decent economic growth, you are okay.

COMMENT

Have a very large nickel project in Madagascar, which is to come on stream early in the new year. A laterite nickel project which is historically difficult. Market is not willing to believe they can handle it. If they are successful there will probably be a re-rating. Also trading at a discount because of their Cuban assets.

TOP PICK

8% bonds due 2017. Biggest project is in Madagascar where they had cost over runs. Because of its Cuban assets is rated a non-investment grade bond but with their fundamentals it should trade as an A low bond. Great managers.

BUY

90% of all thermal coal production in Canada. Working on a huge nickel project in Madagascar. Cuba accounts for about 20% of their overall revenue. At this price, it is probably a good entry-level.

DON'T BUY

8% bonds maturing in 2018? Market has always discounted this name because of the Cuban involvement. 5 of the 6 major underwriters in Canada won't touch them. Fairly solid balance sheet but is really not a fan of this credit and wouldn’t recommend them.

COMMENT

Have a big bet in Madagascar. If it is successful, it will really make this company but there are political risks and mine development risks. There have been a lot of cost pressures in the whole mining area. Would prefer to be in a more diversified operation of mines.

WAIT

CEO is stepping down and often when a new CEO comes in, they want to reset the bar a little lower. Now may not be the best time to enter this one. Is somewhat negative on coal prices going forward, although they are more in the thermal coal.

TOP PICK

8% bond maturing Nov 15/18. Really likes the Canadian-based coal assets, which more than backs up the value of the bond. Allows him to lock in the 8% without worrying about what happens in the market.

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Sherritt International Corp. (S.TO)