Sherritt International (TSE:S) Hits New 52-Week High - Here's Why

Key Points

• Sherritt International shares hit a new 52-week high of C$0.29 on Tuesday, up about 18.4% on volume of 5,656,388 shares.
• National Bank Financial raised its price target from C$0.20 to C$0.35, and the consensus rating is a Hold with an average price target of C$0.35.
• Despite the rally, Sherritt reported C($0.03) EPS last quarter with a negative return on equity (20.46%) and an -86% net margin; the company operates a strategically important nickel and cobalt refinery in Alberta that supports North American critical-minerals supply.

Sherritt International Co. (TSE:S - Get Free Report) shares hit a new 52-week high on Tuesday . The stock traded as high as C$0.29 and last traded at C$0.29, with a volume of 5656388 shares. The stock had previously closed at C$0.25.

Analyst Upgrades and Downgrades

Separately, National Bank Financial upped their target price on shares of Sherritt International from C$0.20 to C$0.35 in a research note on Thursday, January 29th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of C$0.35.

Sherritt International Stock Up 18.4%

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 company has a market cap of C$143.92 million, a price-to-earnings ratio of -2.07, a PEG ratio of 0.02 and a beta of -0.51. The firm's fifty day simple moving average is C$0.21 and its 200 day simple moving average is C$0.18.

Sherritt International (TSE:S - Get Free Report) last posted its quarterly earnings results on Tuesday, February 10th. The company reported C($0.03) EPS for the quarter. Sherritt International had a negative return on equity of 20.46% and a negative net margin of 86.00%.The firm had revenue of C$163.20 million for the quarter. Sell-side analysts predict that Sherritt International Co. will post 0.0576923 earnings per share for the current year.

About Sherritt International

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.

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