Sherritt Int'l Corp (TSE:S)
TSX:S
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Sherritt International
(TSX:S)
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Rating:50Neutral
Price Target:
C$0.28
▲(61.76% Upside)
Action:ReiteratedDate:04/09/26
The score is held back primarily by weak and inconsistent profitability and volatile cash flows, despite a balance sheet that appears moderately leveraged. Technicals are supportive (price above key moving averages and positive MACD) but look overextended, and valuation is pressured by losses implied by the negative P/E.
Positive Factors
Diversified Metals and Power business
A two‑segment model (metals and Alberta power) provides structural diversification. Metals exposure captures industrial and battery-related demand for nickel and cobalt, while the power business supplies steady electricity/steam revenue, lowering single-commodity earnings sensitivity over time.
Negative Factors
Recurring net losses and weak profitability
Sustained net losses and thin gross margins indicate structural profitability challenges. Persistent negative returns reduce internal capital for growth, risk stripping of equity value over time, and limit the company’s ability to consistently fund capex or pay down debt without external financing.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified Metals and Power business
A two‑segment model (metals and Alberta power) provides structural diversification. Metals exposure captures industrial and battery-related demand for nickel and cobalt, while the power business supplies steady electricity/steam revenue, lowering single-commodity earnings sensitivity over time.
Read all positive factors
Sherritt International (S) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$136.48M
Dividend YieldN/A
Average Volume (3M)199.88K
Price to Earnings (P/E)―
Beta (1Y)0.98
Revenue Growth11.65%
EPS Growth17.14%
CountryCA
Employees6,963
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.03
Shares Outstanding496,288,670
10 Day Avg. Volume305,099
30 Day Avg. Volume199,879
Financial Highlights & Ratios
PEG Ratio0.07
Price to Book (P/B)0.20
Price to Sales (P/S)0.57
P/FCF Ratio20.06
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$0.30Price Target Upside76.47% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)-0.11
Revenue Forecast (FY)C$87.60M
Sherritt International Business Overview & Revenue Model
Company Description
Sherritt International Corporation engages in the mining, refining, and sale of nickel and cobalt from lateritic sources primarily in Canada and Cuba. It operates through Moa Joint Venture and Fort Site, Metals Other, Oil and Gas, Power, and Techn...
How the Company Makes Money
Sherritt primarily makes money through two main operating segments: (1) Metals and (2) Power.
1) Metals (nickel and cobalt)
- Product sales: The largest revenue driver is the sale of nickel and cobalt produced via the Moa Joint Venture in Cuba. T...
Sherritt International Earnings Call Summary
Earnings Call Date:Jun 30, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:May 12, 2026
Earnings Call Sentiment Neutral
The earnings call presented a mix of positives and negatives. While Sherritt International successfully managed costs and completed strategic financial transactions to strengthen its position, the company faced significant production challenges in Cuba and was adversely affected by low nickel prices. The revised production guidance for nickel and cobalt indicates ongoing difficulties, although cost-saving measures are a proactive step toward resilience.Positive Updates
Cost Management Success
Despite lower production, net direct cash costs were reduced by 8% year-over-year, achieving effective cost management and benefiting from higher byproduct credits.
Negative Updates
Lower Nickel and Cobalt Production
Revised guidance for 2025 with nickel production down from 31,000-33,000 tons to 27,000-29,000 tons and cobalt from 3,300-3,600 tons to 3,000-3,200 tons due to operating challenges in Cuba.
Read all updates
Q2-2025 Updates
Positive
Negative
Cost Management Success
Despite lower production, net direct cash costs were reduced by 8% year-over-year, achieving effective cost management and benefiting from higher byproduct credits.
Read all positive updates
Company Guidance
During the Sherritt International Corporation's second quarter 2025 earnings call, the company provided guidance on various metrics, indicating adjustments and strategies in response to ongoing challenges. The company revised its nickel production guidance from 31,000-33,000 tons to 27,000-29,000 tons and cobalt production from 3,300-3,600 tons to 3,000-3,200 tons for 2025, citing difficult operating conditions in Cuba and limited third-party feed opportunities. Despite these challenges, Sherritt managed an 8% year-over-year reduction in net direct cash costs, reaching $5.27 per pound of nickel sold. The Moa Joint Venture expansion is on track, with commissioning activities for Phase 2 expected to complete in mid-August, aiming to improve mixed sulphides production. Additionally, Sherritt implemented significant cost reduction measures, projecting $20 million in annual savings, and successfully closed debt and equity transactions to extend financial flexibility, with the revolving term credit facility extended to April 2027.Sherritt International Financial Statement Overview
Summary
Income Statement
32
Negative
Balance Sheet
55
Neutral
Cash Flow
49
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 177.30M | 158.80M | 223.30M | 178.80M | 110.20M |
| Gross Profit | 13.90M | 20.30M | -42.20M | 16.10M | -30.80M |
| EBITDA | -16.00M | -18.60M | -12.00M | 135.50M | -19.10M |
| Net Income | -65.70M | -72.80M | -64.60M | 63.50M | -13.40M |
Balance Sheet | |||||
| Total Assets | 1.23B | 1.38B | 1.39B | 1.56B | 1.40B |
| Cash, Cash Equivalents and Short-Term Investments | 21.60M | 34.30M | 119.10M | 123.90M | 145.60M |
| Total Debt | 323.60M | 382.30M | 366.60M | 350.90M | 444.50M |
| Total Liabilities | 715.50M | 785.40M | 777.00M | 860.70M | 813.00M |
| Stockholders Equity | 511.80M | 597.40M | 613.60M | 694.90M | 585.00M |
Cash Flow | |||||
| Free Cash Flow | 5.00M | -32.90M | 6.00M | 60.20M | -15.10M |
| Operating Cash Flow | 21.00M | -26.10M | 27.30M | 88.70M | -4.40M |
| Investing Cash Flow | -13.50M | 36.10M | -18.40M | -23.40M | -9.90M |
| Financing Cash Flow | -22.90M | 7.10M | -11.70M | -93.30M | -6.90M |
Sherritt International Technical Analysis
Positive
0.17
Price Trends
0.22
Positive
0.21
Positive
0.17
Positive
Market Momentum
0.03
Negative
69.54
Neutral
60.87
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:S, the sentiment is Positive. The current price of 0.17 is below the 20-day moving average (MA) of 0.25, below the 50-day MA of 0.22, and below the 200-day MA of 0.17, indicating a bullish trend. The MACD of 0.03 indicates Negative momentum. The RSI at 69.54 is Neutral, neither overbought nor oversold. The STOCH value of 60.87 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:S.
Sherritt International Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
50 Neutral | C$136.48M | -1.53 | -12.25% | ― | 11.65% | 17.14% | |
50 Neutral | C$284.34M | -221.79 | -4.22% | ― | ― | -45.61% | |
49 Neutral | C$23.66M | -16.75 | -58.92% | ― | ― | 38.32% | |
45 Neutral | C$93.00M | -31.58 | -6.56% | ― | ― | 31.11% | |
45 Neutral | C$97.81M | -8.20 | -4.28% | ― | ― | -10.00% | |
40 Underperform | C$41.72M | -10.21 | 59.40% | ― | ― | 9.47% |
* Basic Materials Sector Average
TSE:S
Sherritt International
0.28
0.14
103.70%
TSE:FSY
Forsys Metals
0.38
-0.21
-35.59%
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1.00
0.58
138.10%
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0.11
0.02
22.22%
TSE:WHY
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0.35
0.03
9.37%
TSE:WM
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0.08
0.03
45.45%
Sherritt International Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Sherritt Raises $43.5 Million in Non‑Brokered Share Offering
Positive
Apr 7, 2026
Sherritt International has completed a non‑brokered private placement of approximately 207 million common shares at $0.21 each, raising gross proceeds of about $43.5 million. A corporation controlled by prominent investor Seymour Schulich su...
Business Operations and StrategyExecutive/Board ChangesPrivate Placements and Financing
Sherritt to Raise Up to $50 Million in Private Placement as Board Member Departs
Positive
Mar 31, 2026
Sherritt International has arranged a non-brokered private placement of up to $50 million, issuing as many as 238,095,238 common shares at $0.21 each to new and existing investors, including up to 68.6 million shares subscribed by Seymour Schulich...
Business Operations and StrategyPrivate Placements and Financing
Sherritt Cuts Moa Output on Cuban Fuel Shortage, Keeps Canadian Refinery Running
Negative
Feb 17, 2026
Sherritt International has curtailed operations at its Moa joint venture in Cuba due to national fuel supply constraints, with mining expected to pause and the processing plant moved to standby while maintenance is carried out. The company is seek...
Business Operations and StrategyFinancial Disclosures
Sherritt curtails Cuban mine as fuel crunch threatens Moa output
Negative
Feb 17, 2026
Sherritt International has cut operations at its Moa nickel and cobalt joint venture in Cuba because fuel deliveries to the site have been halted, forcing it to plan a pause in mining and to place the processing plant on standby, where it will con...
Business Operations and StrategyExecutive/Board ChangesFinancial Disclosures
Sherritt Posts 2025 Loss but Targets Moa Mine Turnaround in 2026
Negative
Feb 10, 2026
Sherritt International reported fourth-quarter and full-year 2025 results showing that nickel and cobalt production at its Moa Joint Venture met revised guidance, while electricity generation closely matched targets and unit operating costs came i...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.