Topic: Growth Stocks

Stock Pickers Digest Hotline – Friday, May 9, 2014

Article Excerpt

SHERRITT INTERNATIONAL CORP., $4.60, symbol S on Toronto, has fended off an attempt by activist investor George Armoyan and his firm, Clarke Inc. (symbol CKI on Toronto), to place three of its nominees on Sherritt’s board of directors. Together, they would have held a third of Sherritt’s nine board seats. Shareholders voted against the new directors at the company’s annual meeting on May 6. Meanwhile, Armoyan has put forward a number of proposals for Sherritt to cut costs, reduce its debt and better align what he sees as the interests of shareholders, management and the board directors. Even though he lost the vote, Armoyan’s ongoing involvement, and his 5% interest in Sherritt, should keep drawing investor attention to the company’s strong long-term prospects. Sherritt is already putting a number of his proposals in place. Sherritt International is still a buy. Sherritt International was recently covered in the April 2014 issue of Stock Pickers Digest. Click here to access it. Sherritt International was recently covered in the…