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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
COMMENT
Roughly a third coal, a third oil and a third nickel. Just reported and the coal is up, oil was up very sharply and offset the decline in nickel. Looks quite cheap. Have the largest undeveloped coal acreage in Alberta.
TOP PICK
Sherritt International Bonds Oct 15, 2015. 7.75% yield. This is all about coal. Coal has gone up tremendously. Recently got upgraded to an investment grade bond. They have a tremendous free cash flow and are under leveraged. The other wild card is the Cuban assets. If the US gets warmer with Cuba, the potential is that they may get upgraded further.
PAST TOP PICK
(A Top Pick July 16/07. Down 5%.) Other stocks in the materials sector that he would prefer. ROE deteriorated so he sold his holdings.
TOP PICK
Produce 30,000 barrels a day in Cuba. Crappy oil but there is tremendous potential. Expects the new Democratic government in the US could ease restrictions. Largest producer of thermal coal in Canada. Low multiple.
BUY
(Market Call Minute.) Model price is $25.83, an 80% positive differential.
BUY ON WEAKNESS
Assets in Cuba, Canada. Likes the company. Waiting for further pullback before buying. May see summer weakness.
BUY
Having their shareholder meeting tomorrow and he is not expecting much from this. This is a good proxy of what you see in the commodity field. Cuba will eventually change and this company will benefit.
BUY
(Market Call Minute.) Just put out their earnings, which were right on expectations. Well managed company.
COMMENT
At these levels, it all depends on if there is any capitulation in the commodities market. They do have a wide body of resources in their portfolio, so there is a little bit more diversification. Would hold off on this one.
COMMENT
People hoped that this would split up the mining assets from the oil/gas assets. The issue with this is that each company would be small and where would you put the debt. Looking at commodities, it could continue to do well.
BUY
A terrific company, not only for the coal play but also the things it is doing in Cuba. Has nickel exposure as well.
BUY
Trading at a fairly large discount to NAV. There is a little bit of a discount for Cuba. Even if you exclude the Cuban assets, it is much cheaper than anything else. Below $15 looks quite interesting.
TOP PICK
Very much impressed. Looks like it is going to be able to get the laterite nickel project under way and into production in Madagascar. It has great expertise in dealing with communities.
BUY
Likes the company. They've just done an equity deal so they will be under pressure for the next two or three weeks as that volume goes through the market.
BUY
It has a couple of drivers that make it interesting. Likes its exposure to coal and coal prices are extremely strong. Also has growth in its metal businesses, which is going to grow dramatically over the next 4 years, both in nickel and cobalt. Has had a very volatile share price pattern. He prefers stocks that have a nice orderly projection from a share standpoint.
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