Sherritt International (TSE:S) Upgraded to “Sector Perform” at Scotiabank

Sherritt International (TSE:SGet Rating) was upgraded by Scotiabank from an “underperform” rating to a “sector perform” rating in a research report issued on Wednesday, MarketBeat Ratings reports. The firm presently has a C$1.00 price target on the stock, up from their previous price target of C$0.45. Scotiabank’s price objective would indicate a potential upside of 26.58% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. National Bank Financial restated a “sector perform spec overwgt” rating on shares of Sherritt International in a report on Thursday, February 10th. National Bankshares lifted their price objective on shares of Sherritt International from C$1.00 to C$1.10 in a report on Friday, April 8th. Finally, TD Securities upgraded shares of Sherritt International from a “hold” rating to a “speculative buy” rating and lifted their price objective for the company from C$0.65 to C$0.90 in a report on Friday, January 14th.

Shares of S opened at C$0.79 on Wednesday. Sherritt International has a 1-year low of C$0.36 and a 1-year high of C$0.85. The stock has a market cap of C$313.86 million and a PE ratio of -17.17. The firm has a 50-day simple moving average of C$0.69 and a two-hundred day simple moving average of C$0.53. The company has a debt-to-equity ratio of 78.41, a current ratio of 1.76 and a quick ratio of 1.52.

Sherritt International (TSE:SGet Rating) last announced its quarterly earnings results on Wednesday, February 9th. The company reported C$0.04 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.05 by C($0.01). The business had revenue of C$36.60 million for the quarter. As a group, sell-side analysts expect that Sherritt International will post 0.16 earnings per share for the current fiscal year.

Sherritt International Company Profile (Get Rating)

Sherritt International Corporation engages in the mining, refining, and sale of nickel and cobalt from lateritic sources primarily in Canada and Cuba. It operates through Moa Joint Venture and Fort Site, Metals Other, Oil and Gas, Power, and Technologies segments. The company produces and sells agriculture fertilizers in Western Canada; and provides additional fertilizer storage and administrative facilities in Fort Saskatchewan, Alberta, and Canada.

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