Sherritt International Warns Shareholders of Potential Threat from SC2 Inc.

The latest update is out from Sherritt International ( (TSE:S) ).

Sherritt International has issued a letter to its shareholders warning of a potential threat from SC2 Inc., an affiliate of Seablinc Canada Inc., which is attempting to gain control of Sherritt without a credible plan. The company highlights the conflict of interest posed by SC2, whose actions seem to prioritize Seablinc’s supplier agreements over the interests of Sherritt’s shareholders. Sherritt’s Board urges shareholders to vote in favor of all resolutions to protect the company’s future and maintain its strategic progress.

The most recent analyst rating on (TSE:S) stock is a Hold with a C$0.25 price target. To see the full list of analyst forecasts on Sherritt International stock, see the TSE:S Stock Forecast page.

Spark’s Take on TSE:S Stock

According to Spark, TipRanks’ AI Analyst, TSE:S is a Neutral.

Sherritt International’s stock score is impacted by its financial performance weaknesses, including declining revenue and cash flow issues. Positive corporate events and potential improvements in the second half of the year provide some optimism, but valuation concerns persist.

To see Spark’s full report on TSE:S stock, click here.

More about Sherritt International

Sherritt International Corporation is a global leader in using hydrometallurgical processes to mine and refine nickel and cobalt, which are critical metals for the energy transition.

Average Trading Volume: 220,210

Technical Sentiment Signal: Sell

Current Market Cap: C$74.44M

For a thorough assessment of S stock, go to TipRanks’ Stock Analysis page.