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TSE:S

Sherritt International Corp. (S.TO)

0.12
+0.01 (9.09%)
as of May 19, 2026, 8:00:00 pm Market Open.
93 watching
0
DON'T BUY
Results just came out and were kind of weak. Madagascar project is going to start to pour through some metals this summer and will ramp up to full production in about 2 full years. Geopolitical risks seem to have been somewhat tempered lately. This is only about 10% of the NAV. 40% is nickel in Cuba and he is not a fan of nickel.
DON'T BUY
Have a big bet going on in a project in Madagascar, which either works or doesn’t. Too early to tell. Nickel prices are reasonably attractive. There are other similar plays with far less risk.
TOP PICK
Bond 8.25% Oct. 24/14. It’s a play on credit quality. They’ve been having trouble managing their balance sheet. They over-spent on building the Madagascar nickel mine. If that comes on line later this year as management says it will, they are going to take pretty strong measures to increase their credit quality.
TOP PICK
Any time nickel goes over $10 their Ambatovy mine in Madagascar will start kicking in and if nickel remains tight, this company should be worth $15. Also if they ever want to start taking the company apart they could uncover value over the next couple of years.
PAST TOP PICK
(A Top Pick March 3/10. Up 12.5%.) Sherritt Conv. Bonds 7.75% 2015:
WATCH
Chinese have found a way of producing stainless steel cheaper, which has taken the shine off nickel. Getting into the big Madagascar nickel mine and with some of the politics makes him a little nervous. Would wait to see how the situation all works out.
DON'T BUY
Would prefer BHP Billiton (BHP-N), which is better diversified and has a stronger balance sheet. After the run in commodities and base metals since March 2009, you should looks at a higher quality name. You might want to consider their bonds instead.
HOLD
Nickel, oil/gas and some other businesses. Beautiful trend line. Chart indicates it has a lot of room to run.
COMMENT
Coal, oil and nickel. Seasonal strength is from around the end of January through to May of each year.
HOLD
Main way to play thermal coal in Canada. Growth project in Madagascar doesn’t kick in unless nickel is above $10-$11. Both nickel and coal are very strong and this is a sweet spot for this company.
SELL
Essentially nickel. Their big Madagascar project is really running the show. Political scene in Madagascar is still somewhat clouded. Sold his holdings.
TOP PICK
7.75% bond due 2015. Yielding about 6%. Low leverage with about 30% debt to capital. Making a lot of cash to add to their bottom line.
BUY
Has Cuba and large Nickel mine in Madagascar to come on line soon. Undervalued. It is a cheap stock. Problem is that some Americans wont come up and buy it because of Cuba. Double digits by end of year.
BUY
If nickel can stay above $10, this worth between $13-$15. Also have some nickel in Madagascar.
BUY
If you look at where the growth in the world is and what they are using, there is great demand for materials and for quite a period of time. S-T is a name and is doing some interesting stuff. Nothing wrong with it.
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