Sherritt International Receives Proxy Advisor Support Amid Shareholder Challenge

Sherritt International ( (TSE:S) ) has provided an announcement.

Sherritt International Corporation has received a recommendation from Institutional Shareholder Services Inc. (ISS) for shareholders to vote in favor of all resolutions and director nominees at the upcoming Annual and Special Meeting. This endorsement follows a similar recommendation from Glass, Lewis & Co. LLC, highlighting the progress made under Sherritt’s current board and management. The company is facing a challenge from SC2 Inc., which seeks to replace the incumbent directors to benefit its affiliate, Seablinc Canada Inc., a supplier to Sherritt’s Moa Joint Venture. Sherritt warns that SC2’s actions could jeopardize the company’s financial stability and strategic goals, urging shareholders to support the board’s resolutions to protect the corporation’s future.

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 overall stock score reflects significant financial challenges, with declining revenues and persistent losses being major concerns. While technical indicators and corporate events provide some positive signals, valuation issues and mixed results from the earnings call underscore the need for strategic improvements. The company’s efforts to strengthen its capital structure and expectations of improved performance in the latter half of the year offer a glimmer of hope.

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

More about Sherritt International

Sherritt International Corporation is a world leader in utilizing hydrometallurgical processes to mine and refine nickel and cobalt, metals critical for the energy transition. The company operates the Moa Joint Venture, which has an estimated mine life of approximately 25 years and is working on expanding its production of nickel and cobalt. Additionally, Sherritt’s Power division, through its ownership in Energas, is the largest independent energy producer in Cuba, contributing about 10% of the country’s national electrical generating capacity.

Average Trading Volume: 199,154

Technical Sentiment Signal: Sell

Current Market Cap: C$74.44M

See more data about S stock on TipRanks’ Stock Analysis page.