Sherritt International (TSE:S) Trading Down 15.9% – Here’s What Happened

Sherritt International Co. (TSE:S) dropped 15.9% during mid-day trading on Tuesday . The company traded as low as C$0.17 and last traded at C$0.17. Approximately 2,040,673 shares traded hands during mid-day trading, an increase of 122% from the average daily volume of 920,357 shares. The stock had previously closed at C$0.21.

Wall Street Analyst Weigh In

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

Sherritt International Trading Down 15.9%

The business’s 50 day simple moving average is C$0.22 and its 200 day simple moving average is C$0.16. 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 company has a market capitalization of C$85.61 million, a price-to-earnings ratio of -1.23, a price-to-earnings-growth ratio of 0.02 and a beta of 0.40.

About Sherritt International

Sherritt International Corp is engaged in the mining and refining of nickel from lateritic ores with projects and operations in Canada, Cuba, and North America. Its segment includes Moa JV and Fort site, Metals Other, Power, and Technologies and Corporate. The Moa JV and Fort site segment includes the mining, processing, and refining of nickel and cobalt. Metals Other segment is comprised of buying, marketing and selling certain of Moa Joint Venture’s nickel and cobalt production. Its Power segment constructs and operates an electricity generating plant whereas The Technologies and Corporate segment consist of the metallurgical technology business and general corporate activities.