Sherritt International (TSE:S) Trading Down 24.1% – Here’s Why

Sherritt International Co. (TSE:S)’s stock price dropped 24.1% on Thursday . The company traded as low as C$0.11 and last traded at C$0.11. Approximately 2,809,884 shares changed hands during trading, an increase of 135% from the average daily volume of 1,195,213 shares. The stock had previously closed at C$0.15.

Wall Street Analysts Forecast Growth

Separately, National Bank Financial set a C$0.30 price objective on shares of Sherritt International and gave the company a “sector perform” rating in a research report on Wednesday, April 8th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of C$0.30.

Sherritt International Stock Performance

The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 65.78. The stock has a market cap of C$77.36 million, a P/E ratio of -0.79, a PEG ratio of 0.02 and a beta of -0.45. The firm’s 50-day simple moving average is C$0.22 and its 200 day simple moving average is C$0.20.

Sherritt International (TSE:S) last posted its earnings results on Tuesday, February 10th. The company reported C($0.03) EPS for the quarter. The firm had revenue of C$163.20 million during the quarter. Sherritt International had a negative return on equity of 20.46% and a negative net margin of 86.00%. As a group, equities research analysts anticipate that Sherritt International Co. will post 0.0576923 earnings per share for the current year.

Sherritt International Company Profile

Sherritt is a world leader in using hydrometallurgical processes to mine and refine nickel and cobalt – metals deemed critical for the energy transition. Leveraging its technical expertise and decades of experience in critical minerals processing, Sherritt is committed to expanding domestic refining capacity and reducing reliance on foreign sources. The Corporation operates a strategically important refinery in Alberta, Canada, recognized as the only significant cobalt refinery and one of just three nickel refineries in North America.