Scotiabank Remains a Hold on Sherritt International

By Carrie Williams

Sherritt International (TSX: S), the Materials sector company, has received a rating update from a Wall Street analyst yesterday. Analyst Orest Wowkodaw from Scotiabank rated Sherritt International (TSX: S) a Hold, setting a C$1.60 price target.

According to TipRanks.com, Wowkodaw is a top 100 analyst with an average return of 34.3% and a 73.7% success rate. Wowkodaw covers the Basic Materials sector, focusing on stocks such as Teck Resources Limited, Nevsun Resources Ltd, and Taseko Mines Limited.

Sherritt International has an analyst consensus of Moderate Buy, with a price target consensus of C$1.73.

Sherritt International’s market cap is currently C$433.9M and has a P/E ratio of 0.

Sherritt International Corp. engages in the production and provision of nickel, and energy from lateritic sources. It operates through the following segments: Metals, Oil and Gas, Power, and Corporate and Other. The Metals segment is comprised of nickel and cobalt mining, processing, and refining.

The company’s shares closed on Monday at C$1.47.