Hello Pat: I am a new member of your Inner Circle and was hoping to get your opinion on a stock. I presently own shares in Sherritt International Corp, and am up approximately 20% and wondering what to do at this time. Thanks.
Sherritt International, $6.84, symbol S on Toronto (Shares outstanding: 294.1 million; Market cap: $2.0 billion), is a diversified natural-resource company that produces nickel, cobalt, thermal coal, oil and gas. It also licenses its own mining technologies to other metals companies, and manages 376 megawatts of power-generation capacity in Cuba.
Toronto-based Sherritt is a major nickel producer, with operations in Cuba and Canada. It also has a development project on the island nation of Madagascar, off the east coast of Africa. The company also produces oil and gas in Cuba, Spain and Pakistan.
The company is the largest producer of thermal coal in Canada. (Many power plants burn thermal coal to generate electricity.) Sherritt is also developing Canada’s first coal-gasification project, near Camrose, Alberta. This process converts coal into a gas that can be used in place of natural gas.
In the three months ended December 31, 2009, Sherritt’s revenue fell 18.5%, to $389.6 million from $478.3 million. Earnings per share fell sharply,…
Privacy Policy and Terms of Use
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Changes to this Policy
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