Sherritt International (TSE:S) Shares Down 30% - Here's What Happened

Key Points

• Shares of Sherritt International plunged about 30% intraday, trading as low as C$0.16 (last C$0.18) on a huge spike in volume (~6.49 million shares, roughly 499% above average) after a prior close of C$0.25.
• Analysts maintain a Hold consensus with an average target of C$0.30, and National Bank Financial issued a C$0.30 "sector perform" rating.
• Recent fundamentals show a C($0.03) quarterly EPS, a negative net margin (-86%) and ROE (-20.46%), a high debt-to-equity ratio (65.78) and ~C$102M market cap, while the company operates one of North America's few nickel–cobalt refineries in Alberta.

Sherritt International Co. (TSE:S - Get Free Report)'s share price was down 30% during mid-day trading on Thursday . The stock traded as low as C$0.16 and last traded at C$0.18. Approximately 6,494,229 shares traded hands during trading, an increase of 499% from the average daily volume of 1,083,800 shares. The stock had previously closed at C$0.25.

Analyst Upgrades and Downgrades

Separately, National Bank Financial set a C$0.30 target price on shares of Sherritt International and gave the stock a "sector perform" rating in a report on Wednesday, April 8th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, Sherritt International currently has a consensus rating of "Hold" and an average target price of C$0.30.

Sherritt International Stock Down 42.0%

The company has a debt-to-equity ratio of 65.78, a current ratio of 1.28 and a quick ratio of 1.24. The business's fifty day simple moving average is C$0.23 and its two-hundred day simple moving average is C$0.20. The company has a market cap of C$101.98 million, a PE ratio of -1.04, a PEG ratio of 0.02 and a beta of -0.45.

Sherritt International (TSE:S - Get Free Report) last released its quarterly earnings data on Tuesday, February 10th. The company reported C($0.03) earnings per share for the quarter. Sherritt International had a negative net margin of 86.00% and a negative return on equity of 20.46%. The firm had revenue of C$163.20 million during the quarter. On average, analysts predict 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.

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