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

COMMENT

If the US lists the trade embargo on Cuba, this will be better for the company. On the other hand, more businesses will be located in Cuba and it will no longer be a one-man show. A little concerned about their nickel projects in Africa as well as a correction in base metals.

DON'T BUY

Healthiest, medium term metal is copper. Nickel can’t sustain above $9-10. Pretty fully priced. China’s ability to make pig-iron nickel will keep the price of nickel low.

TOP PICK

7.75% bonds maturing October 2015. Currently a 9% yield. Balance sheet is under levered at about 30% debt to cap. (The Stock is fully valued.)

BUY

Feels that commodities and basic materials have legs in this market. Technically there is very strong relative strength against the market and the group. Could become more palatable to US investors if relationships with Cuba improve.

HOLD

Likes them for their nickel and Cuban exposure as well as some other interesting oil/gas plays. A nickel play in Madagascar has cost them increasing amounts daily. Until he sees this properly resolved as well as the new economic outlook he would hold off buying.

DON'T BUY

Have run into some delays in Madagascar. That's a concern you have to have every time you invest in a regime that doesn't have North American standards. Have also had difficulties in getting revenues from their oil production in Cuba.

PAST TOP PICK

(A Top Pick Aug 20/08. Down 33.77%.)

DON'T BUY

Given his view that there could be a setback in the commodity markets and that the economy is not as strong as what people are reading into it he would be hesitant to Buy at this time.

BUY

One of only two base metal companies that we have in Canada. Base metals industry is in remarkably good shape and is on a rebound. This one is still on track with the giant Ambatovy nickel project in Madagascar. Has its backers and has solved its debt problems.

BUY

Has just broken out and looks pretty decent. $5 Stop but probably $8 upside.

COMMENT

Lots of leverage to Cuba but US is making overtures. This is reflected in the stock. Risks with having Cuba as a joint venture partner. Recent instability in their project in Madagascar. Suffers from diversification discount since they have energy, electrical generation and mining.

HOLD

Cheap compared to their peers because of the Cuban connection. Warming relations between US and Cuba should help. Being held back the cause of their big nickel project in Madagascar. Political instability and cost overruns are problems. In the long-term you will do quite well with this one but in the short term there are some challenges.

BUY ON WEAKNESS

Could be double digits taking into account nickel assets in Madagascar that will come on in 2011-2012. Ran a lot since its March lows because of possible better relations with Cuba. Try to get it at around $4.50.

DON'T BUY

7.75% bonds are trading at about $89 giving it a 10.15% yield. Rated one notch below investment grade at BB high. Considered high yield i.e. junk bond. Not much of a market in Canada for trading these.

PAST TOP PICK

(A Top Pick July 24/08. Up 8%.) Bonds Oct 15, 2015. 7.75% yield. Continues to like this. Low debt to capital at around 30%.

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Sherritt International Corp. (S.TO)