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Opinions Laura Lau
Sherritt International Corp.S.TODON'T BUYDec 02, 2013
Laura LauUnknown
$3.39
Stock price when the opinion was issued
$0.12
As of May 19, 2026. Market Open.
integrated mines
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DON'T BUY
This is a zero, although not priced there yet. That is where it is going. It has been a lousy company for a long time. Madagascar will prove to be their undoing. They defaulted on their debt in February. Their debt is currently worth 54 cents on the dollar so the stock is worth zero.
integrated mines
COMMENT
The share price keeps falling. Why? The biggest thing recently is in Cuba where they have assets and deal with the government to repatriate cash flow, not related to that quarter's cash flow. A quarter ago, Cuba didn't pay. Two weeks ago, they announced a solution, a deal with the Cuban government which is cash-strapped, especially as it deals with the costs of hurricanes that have hit Cuba. Cuba has to pay or else it will scare off other Western companies.
integrated mines
COMMENT
Cobalt is a partner commodity in the production of lithium batteries. Earnings are expected to be negative in 2019. Cobalt prices have risen sharply, causing manufacturers to find a way to move away from using it -- nickle may replace it (as an aside Sherritt could be a potential benefactor of this). He would consider selling FCC-V in favour of XBC-V (who focuses on garbage dump gas extraction).
integrated mines
COMMENT
It still depends highly depend on nickel. They also deal in oil/gas (in Cuba). Cobalt has seen a lift, because it's used in technology. They're certainly not flourishing, though surviving. He wants to see signs of global stabilization especially in China because that will help the nickel, copper and zinc prices and lead to Sherritt rebounding.
integrated mines
Liability with the spill in Alberta is not yet known. Nickel prices are affecting the stock right now. Madagascar ramp up is not going as expected and that is what people are concentrating on. Dead money but with the 5% dividend.