Sherritt International (S) was Downgraded to a Hold Rating at National Bank

By Ryan Adsit

Today, an analyst has provided a rating update for the Materials sector company, Sherritt International (SResearch Report). National Bank’s analyst Don DeMarco downgraded S to Hold , with a C$1 price target.

According to TipRanks.com, DeMarco is a 3-star analyst with an average return of 5.8% and a 63.3% success rate. DeMarco covers the Basic Materials sector, focusing on stocks such as Golden Star Resources Ltd, OceanaGold Corporation, and SilverCrest Metals Inc.

Sherritt International has an analyst consensus of Moderate Buy, with a price target consensus of C$1.10, which is a 144.4% upside from current levels. In a report released today, Scotiabank also downgraded the stock to Hold.

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Sherritt International’s market cap is currently C$188.7M and has a P/E ratio of 0.3. The company has a Price to Book ratio of 0.17.

Sherritt International Corp. engages in the production and provision of nickel and cobalt from lateritic ores. It operates through the following divisions: Metals, Oil and Gas, Power, and Commercial and Other. The Metals division involves in the nickel and cobalt mining, processing, and refining.

The company’s shares closed on Monday at C$0.45, close to its 52-week low of C$0.37.