Sherritt International (TSE:S) Trading Up 29.2% – Here’s Why

Sherritt International Co. (TSE:S) shares traded up 29.2% during trading on Friday . The stock traded as high as C$0.17 and last traded at C$0.15. 4,024,273 shares traded hands during trading, an increase of 201% from the average session volume of 1,336,970 shares. The stock had previously closed at C$0.12.

Wall Street Analyst Weigh In

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

Sherritt International Stock Up 33.3%

The stock has a 50-day moving average of C$0.13 and a 200 day moving average of C$0.19. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 65.78. The company has a market capitalization of C$112.63 million, a PE ratio of -2.67, a P/E/G ratio of 0.02 and a beta of -0.73.

Sherritt International (TSE:S) last announced its quarterly earnings results on Thursday, June 25th. The company reported C($0.02) 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 company had revenue of C$34.00 million during the quarter. Sell-side analysts anticipate that Sherritt International Co. will post 0.0576923 EPS 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.