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

Sherritt International Corp. (S.TO)

0.12

+0.01 (9.09%)

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

93 watching

COMMENT

Used to follow a lot more closely. He has not looked at financials recently. It is low enough that he should sit down a look at it.

TOP PICK

(A Top Pick July 6/10. Down 9.51%.) If nickel falls below $10, 6% to 7% of global supply will stop so this company just needs to stay above $5 for them to make a significant amount of money. Expect the stock will get back to $8-$10. 2.8% yield.

WATCH

One third oil (in Canada), one third coal and cobalt (in Cuba) and one third nickel with a big project in Madagascar. Market is skeptical about Madagascar until they prove otherwise. Had some operating cost overruns. It will be 1st quarter of 2012 before we really see. If they can do it, the stock could double.

PAST TOP PICK

(A Top Pick Sept 1/10. Up 9%.) 7.75% bonds maturing October 2015. Pristine balance sheet. Sold out recently because a yield was getting close to 5.5% but put some of the cash into the stock.

BUY

Warrant on their huge nickel mine n Madagascar. Announced last month they would not meet production until mid next year. It’s a good buy.

WEAK BUY

Exposure to coal, not just nickel. They made a big bet with a mine in Madagascar, which is not the most politically stable place.

PAST TOP PICK

(A Top Pick March 9/11. Up 5.15%.) Bond 8.25% Oct. 24/14.

DON'T BUY

Costs in their Madagascar project have become inflated and has pushed production out to Q1 of 2012 but she feels it remains to be seen if they can come in on time. Doesn't see a lot of growth in their current project. A “show me” story. Also doesn't see them benefiting on the international market for their coal.

COMMENT

Recently announced cost increases in their giant nickel project in Madagascar. This is a mining project in a developing economy where it always takes longer and costs more. It will add 4%-5% to the global nickel production on a low-cost basis. Even it becomes nationalized or it doesn't work out, Sherritt is not on the hook.

PAST TOP PICK

(Top Pick Jul 6/10, Up 20.77%) Thinks it will become a major nickel producer

BUY

Likes it for Madagascar mine, which is just coming on stream. Market is slightly skeptical. Cuba is not only 40%. Asset value is $11-$12.

WATCH

Concerned about their large operation in Madagascar and possible political problems. (Not in production yet. Also have significant coal operations. Probably won’t buy until he has a better fix on Madagascar, politically and production wise.

BUY

Hit like a lot of material stocks. People are counting so much on the Madagascar mine, which is a very big bet for them, which will be in production over the next couple of quarters. If you are a longer term shareholder, it could work out quite well. Multiples are fairly reasonable. There is talk of them possible spinning out some of their other assets.

BUY

Sherritt Intl. a mid cap company that he likes a lot. They own the bond and the equity. Thinks it trades very cheap and feels over the next year or two they will see creative measures to add to their earnings and their evaluation. Recommends buying more.

DON'T BUY

Doesn’t expect a lot of US$ to be rushing back in to this stock, even if anything changes because of the political change. You have to look at their core businesses, thermal coal, nickel and gas. Not the best positioned company out there. Doesn’t have as much growth as some of their competitors. Lagged this year and recent earnings were disappointing. Also prefer metallurgical coal as opposed to thermal coal.

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