Sherritt International (TSE:S) Shares Down 15.9% – Here’s Why

Sherritt International Co. (TSE:S) dropped 15.9% on Wednesday . The company traded as low as C$0.17 and last traded at C$0.17. Approximately 2,790,452 shares changed hands during mid-day trading, an increase of 184% from the average daily volume of 983,292 shares. The stock had previously closed at C$0.21.

Analyst Ratings Changes

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

Sherritt International Trading Up 4.3%

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 cap of C$89.33 million, a PE ratio of -1.29, a PEG ratio of 0.02 and a beta of 0.40. The firm’s 50 day moving average is C$0.22 and its 200 day moving average is C$0.16.

Sherritt International Company Profile

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.