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Sherritt International Corp. Stock Symbol: S-T

Notes:60% coal, 30% Cuba in oils and nickel mines.

Last Price Recorded: 4.8400 on 2014-04-19 01:14:15

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Date Signal Expert Opinion Price
2014-04-16 COMMENT Rick Stuchberry

This is always a stock that looks cheap because of the asset base. Has good assets, but they are in jurisdictions that cause people some headwinds. One of these days this thing will do better. Feels this is more of a trading situation than an investing situation. If you own and are not a trader, maybe you should take this as an opportunity to lighten up.


Price:
$4.780
Subject:
CANADIAN LARGE & ADRs
Bias:
CAUTIOUSLY OPTIMISTIC
Owned:
No
2014-04-03 DON'T BUY Dennis Da Silva

Nickel has had a big run and is the superior of the three base metals.  Indonesia has a ban on export of ore.  They need to get the companies there to build a smelter.  This is a nice clean way to play nickel, but he has not done it.  Russia is a big nickel producer also.


Price:
$4.180
Subject:
RESOURCE
Bias:
SELECTIVE
Owned:
No
2014-04-02 HOLD Michael Bowman

Thinks there is a lot more to the story. There is an activist investor now and we’ve never really had activist investors until just a while ago. He applauds activist investor that comes in and wants a seat on the board and wants to see the share price going higher. This creates a bit of a fire under stock prices. The company has a nickel mine in Madagascar and are anticipating by year-end that the mine will be up to 90%. Earnings on this company is at about $0.30 and next years earnings estimates are somewhere near $1. Stock has great momentum.


Price:
$4.140
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
CAUTIOUS
Owned:
No
2014-03-17 DON'T BUY John Zechner

If you are bullish on Nickel it is one of the more direct ways to play it.  He does not favour it and is not bullish on nickel. Prefers Hud Bay or First Quantum.


Price:
$3.360
Subject:
NORTH AMERICAN - LARGE
Bias:
SELECTIVE
Owned:
No
2014-03-12 BUY Lyle Stein

Nickel is $7 a pound while it was $6 at the beginning of the year. Nickel prices have been going down for 3 years so, because of their Madagascar mine, this company has been suffering. Indonesia ruled that their ore cannot be taken out without processing it, so nickel prices have been rebounding. Oil business is very profitable and a good generator of free cash. This is a call on what nickel prices are 5 years from now. You want to buy mining assets when they are well below Book and this one is.


Price:
$3.310
Subject:
CANADIAN
Bias:
UNKNOWN
Owned:
Yes
2014-03-04 WATCH Bill Harris, CFA

Has done well with bonds over the last 7 years.  They have this window of time when they can decide what to do with the proceeds from the sale of the coal business without paying down the debt.  Nickel is the kind of market that it is supposed to have a floor.  He doesn’t have the stomach right now, but is watching it and might own it soon.


Price:
$3.090
Subject:
RESOURCE
Bias:
SELECTIVE
Owned:
No
2014-02-24 TOP PICK Joey Mack

7.5% Sep 24, 2020.  They did an asset sale, but these bonds are protected from asset sales.  They may have to go and buy back all the bonds above par.  Putting all that money to debt reduction is good for credit.


Price:
$2.960
Subject:
FIXED INCOME
Bias:
CAUTIOUS on BONDS
Owned:
Yes
2014-02-21 WAIT David Cockfield

Owned in the distant past.  Moved out when they went to Madagascar because it was too big a jump into a questionable jurisdiction.  They moved into coal but it did not offset the risk factors there.  Follows it but is not anticipating jumping in.  Wait and see if the project pays off.


Price:
$2.930
Subject:
CANADIAN
Bias:
BULLISH on CANADIAN MARKET
Owned:
No
2014-02-21 HOLD Colin Stewart

They put so much capital into this project and usually there are massive cost overruns on a project this big and then the company would have to raise capital or cut the dividend.  Don’t buy more but it is worth holding if you have it.  If someone is bullish on Nickel then this would be something to look at.


Price:
$2.930
Subject:
NORTH AMERICAN - LARGE (LONG/SHORT STRATEGIES)
Bias:
SELECTIVE
Owned:
No
2014-02-11 WEAK BUY Paul Gardner, CFA

The story is all about their massive project in Madagascar. The run right now is about 70%, which is really good as they have been delayed on getting up to full capacity. Great asset and great cash flow generator. The trouble is, they have entered loans between all the companies involved. It’s really all about nickel prices, which have not really recovered.


Price:
$3.380
Subject:
FIXED INCOME, LARGE CAP DIVIDENDS AND REITS
Bias:
OPTIMISTIC
Owned:
No
2014-02-04 COMMENT Christine Poole

All eyes are focused on their nickel project in Madagascar. Just starting production. Until that really gets going and investors have a really good sense of the profile for that project, there is a question mark as to what that mine will be. Nickel as a commodity is not doing much. Yield of 5%.


Price:
$3.300
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
No
2014-01-29 COMMENT Hank Cunningham

Your opinion on their bond maturing in 2020? This bond has had a history because of its involvement in Cuba. The major dealers in Canada would not underwrite their securities so it has always had a reasonably good balance sheet but is rated below investment grade. They have rallied lately and it has gone down about 150 basis points and its current level is at about 8%. Nickel production is up and running full time and the nickel glut has seemed to have come to an end. He would recommend that no more than 5% of a fixed income portfolio be in such securities, and even then, he is reluctant to buy individual bonds. He prefers ETFs if he were going to buy high yields at all.


Price:
$3.500
Subject:
FIXED INCOME
Bias:
BEARISH on BONDS
Owned:
Unknown
2014-01-27 WAIT Bill Harris, CFA

(Market Call Minute) It likes there will be too much nickel in the long term.


Price:
$3.540
Subject:
RESOURCE
Bias:
CAUTIOUS
Owned:
No
2014-01-21 DON'T BUY John O'Connell, CFA

This is all about how they get the stuff out of the ground in Madagascar. It has been a huge science experiment and investing in science experiments is never a good idea. Has a lot of high-yield debt.


Price:
$3.760
Subject:
NORTH AMERICAN - LARGE
Bias:
CAUTIOUS
Owned:
No
2014-01-07 SELL ON STRENGTH Bruce Campbell (1)

Been a disappointment.  They sold their coal assets last week, odd timing he thinks.  Balance sheet is better and dividend is safe.  It is much more of a nickel company now.  You have to focus on what’s the outlook for Nickel.  If you have a recovery, this one is levered and it should do great.  He would see if it hit $4.50.


Price:
$3.550
Subject:
CANADIAN LARGE
Bias:
SELECTIVE
Owned:
Unknown
2014-01-06 BUY James Dutkiewicz

2017 bonds.  It is primarily dependant on Madagascar.  He has always been concerned about operations in Cuba, which closes them off to US, fixed income or capital markets.  He is more comfortable in the bonds than in the equity and the dividend.


Price:
$3.640
Subject:
FIXED INCOME
Bias:
CAUTIOUS
Owned:
Unknown
2013-12-17 WATCH Mike S. Newton, CIM FCSI

Suffering from tax loss selling right now. Business is well known and well understood and run by pretty talented people. You have to get technical and ignore the fundamentals. He would not recommend buying this until it starts to break out.


Price:
$3.030
Subject:
NORTH AMERICAN - LARGE & ETFs
Bias:
BULLISH
Owned:
No
2013-12-16 BUY on WEAKNESS Bruce Campbell (1)

Lots of value.  Not owned for a year or so.  $3 means you are getting paid to wait, 4%+ dividend.  Asset value of $10 to $11.  Nickel is out of favour.  Third nickel, oil and coal each.  Could be broken up to realize value.


Price:
$3.050
Subject:
CANADIAN LARGE
Bias:
UNKNOWN
Owned:
No
2013-12-12 WATCH David Cockfield

Has been hitting new lows, partially due to tax loss selling. The big problem was when they went into the Madagascar project. Politics there are a little bit turbulent. There are a number of environmental issues and the press has not been good to them. The project has reached the point where it looks like it is going to be producing some reasonable cash flow, however, metal markets are not nearly as good as they were when they started the project. Their coal and Cuban assets are still quite good. After all the tax loss selling is done, we may see the stock turn up.


Price:
$3.070
Subject:
CANADIAN
Bias:
OPTIMISTIC
Owned:
Unknown
2013-12-11 DON'T BUY Michael Sprung

Has not bought this, but some clients brought some in with their accounts. He has been focusing on other players in the mining sector. Their big project, Ambatovy, in Madagascar is almost a make or break project for them. There have been a bit of cost escalations there along with some delays. On a price basis, the stock looks very, very cheap. There are other, more diversified plays that he would prefer. (See Top Picks.)


Price:
$3.090
Subject:
CANADIAN LARGE
Bias:
UNKNOWN
Owned:
Yes
2013-12-04 DON'T BUY Don Vialoux

Normally you would think that a change in the nickel price would have impact on the stock. Nickel has very strong seasonality from around this time of year through until May of each year. However, the stock is not following that pattern. Chart shows the trend is still on the downside and, as yet, still hasn’t shown signs of bottoming. Significantly below its 20 day moving average.


Price:
$3.290
Subject:
SEASONAL & TECHNICAL
Bias:
BULLISH
Owned:
Unknown
2013-12-03 PAST TOP PICK Irwin Michael, B.Com, MBA

(Top Pick Nov 16/12, Down 25.74%)  It is a sum of the parts story.  It is the Madagascar project and people are looking at the nickel price.  If it stays down a long time a lot of their competitors will shut down.  Over 5% dividend.  He would like the company to buy back stock. 


Price:
$3.330
Subject:
VALUE
Bias:
SELECTIVE
Owned:
Yes
2013-12-02 DON'T BUY Laura Lau

Liability with the spill in Alberta is not yet known.  Nickel prices are affecting the stock right now.  Madagascar ramp up is not going as expected and that is what people are concentrating on.  Dead money but with the 5% dividend.


Price:
$3.390
Subject:
DIVIDEND STOCKS
Bias:
BULL on GLOBAL GROWTH
Owned:
Unknown
2013-11-29 COMMENT John Zechner

This one always comes down to what you think will happen in the nickel market. There are a few people getting a little more positive on nickel recently in terms of a capital spending basis and in terms of supply and demand. Nickel has been under pressure for a number of years. If you are positive on nickel, this is the more direct play. On a seasonal basis, this would be the time to Buy.


Price:
$3.450
Subject:
NORTH AMERICAN - LARGE
Bias:
OPTIMISTIC
Owned:
No
2013-11-22 HOLD Rick Stuchberry

Tarnished with the materials brush. In the last year the materials sector, mining and gold, have been a rough place to be. Buyers were positioning themselves for growth that was coming down the road and that growth was postponed. China was slower than people thought, but really North America did not pick up and get going. We are running about 2%, which normally would be at about 2.5% or a bit higher. At some point we will get a recovery with some traction, and then the materials stocks will start to perform. If you own and can be patient a little bit longer, a couple of more months, and if things aren’t happening by this spring you’ve got to really take another good look at this. We are into some strong seasonal strength in the market here.


Price:
$3.500
Subject:
CANADIAN LARGE & ADRs
Bias:
OPTIMISTIC
Owned:
No
2013-11-21 COMMENT Douglas Kee

Has done a lot of work on this for the last 12 months and he believes the yield is safe. Basically the oil side of the business and royalties on the coal side are paying the dividends. Nickel operations in Cuba are very efficient and they are expanding those. Question mark is the Madagascar mine that is coming on stream. Those are running at about 50% now and really have to get over 70% to know if it is working. This is a long-term call on nickel prices. Nickel prices are basically determined by demand from China where the economy has slowed. A longer-term call.


Price:
$3.500
Subject:
CANADIAN DIVIDEND
Bias:
UNKNOWN
Owned:
Yes
2013-11-19 PAST TOP PICK Bill Harris, CFA

(Top Pick Nov 5/12, Down 25.03%)  He just can’t find a floor for nickel.  Loves the company and the people but Nickel has gone down so much.


Price:
$3.440
Subject:
RESOURCE
Bias:
DEFENSIVE
Owned:
No
2013-11-18 DON'T BUY Jon Vialoux

We are in the period of seasonal strength for materials. November 19 is the average start date. The average gains from November all the way through to May gets up to a whopping 20%. However, looking at the technicals, this shows lower lows and lower highs and there is no indication of a base yet. Everything is negative. The trend is negative and the 50 and 20 day are pointing lower.


Price:
$3.440
Subject:
TECHNICAL ANALYSIS & SEASONAL INVESTING
Bias:
BULLISH
Owned:
Unknown
2013-11-18 DON'T BUY Larry Berman CFA, CMT, CTA

A tough one.  Terrible stock for a while.  You are trying to catch a falling knife.  You want to see a period of it stopping making lower lows.  He can`t like the stock while you are looking for a bottom.  Not a fan of coal for the next couple of years.


Price:
$3.440
Subject:
TECHNICAL ANALYSIS & ETF's
Bias:
UNKNOWN
Owned:
Unknown
2013-11-11 DON'T BUY Benj Gallander

Looked at it 3-4 weeks ago.  He cannot get past the debt levels.  That is the major problem with the company.  Otherwise it is intriguing as a contrarian investment.  Tremendous upside if they turn it around.


Price:
$3.400
Subject:
CONTRARIAN INVESTING
Bias:
CONTRARIAN
Owned:
No
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