Last C$3.56 CAD
Change Today -0.09 / -2.47%
Volume 1.2M
S On Other Exchanges
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As of 4:42 PM 09/19/14 All times are local (Market data is delayed by at least 15 minutes).

sherritt international corp (S) Snapshot

Open
C$3.64
Previous Close
C$3.65
Day High
C$3.66
Day Low
C$3.56
52 Week High
05/28/14 - C$4.90
52 Week Low
02/20/14 - C$2.82
Market Cap
1.1B
Average Volume 10 Days
1.7M
EPS TTM
C$0.98
Shares Outstanding
297.3M
EX-Date
09/26/14
P/E TM
3.6x
Dividend
C$0.04
Dividend Yield
2.98%
Current Stock Chart for SHERRITT INTERNATIONAL CORP (S)

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sherritt international corp (S) Details

Sherritt International Corporation, a diversified natural resource company, produces nickel, cobalt, thermal coal, oil and gas, and other commodities. Its Metals segment mines, processes, refines, and markets nickel and cobalt; and produces and sells agricultural fertilizers. This segment also owns and operates fertilizer, sulphuric acid, utilities, and storage facilities in Fort Saskatchewan. The company’s Oil and Gas segment is involved in the exploration and development of oil and gas properties in Cuba, Spain, Pakistan, and the United Kingdom. Its Power segment constructs and operates electricity generating plants that provide electricity in Cuba; and owns an electricity generating plant in Madagascar. As of December 31, 2013, this segment’s power generation facilities located in Cuba had a total capacity of 356 megawatts. The company’s Corporate and Other segment is engaged in the development and commercial application of hydrometallurgical technologies for the treatment of a range of ores, concentrates, mattes, and other feed materials for the recovery of non-ferrous and precious metals; and clean coal technologies, such as coal beneficiation, coal gasification, and coal to liquid. It operates primarily in Canada, Cuba, Madagascar, Europe, and Asia. Sherritt International Corporation was incorporated in 1995 and is headquartered in Toronto, Canada.

Founded in 1995

sherritt international corp (S) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$737.5K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: C$443.8K
Senior Vice President of Oil Gas & Power
Total Annual Compensation: C$375.0K
Senior Vice President of Ambatovy
Total Annual Compensation: C$375.0K
Senior Vice President of Coal
Total Annual Compensation: C$326.3K
Compensation as of Fiscal Year 2013.

sherritt international corp (S) Key Developments

Sherritt International Corporation Announces Dividend for the Third Quarter of 2014, Payable October 14, 2014

Sherritt International Corporation announced that its Board of Directors has approved a quarterly dividend, with respect to the third quarter of 2014, of $0.01 per common share, payable October 14, 2014 to shareholders of record as of the close of business on September 30, 2014.

Sherritt International Corporation Announces Offers and Solicitations of Consent for 8.00% Senior Unsecured Debentures Due 2018 and 7.50% Senior Unsecured Debentures Due 2020

Sherritt International Corporation announced to purchase for cash between $100 million and $150 million principal amount of Sherritt's outstanding 8.00% Senior Unsecured Debentures due November 15, 2018 and between $200 million and $250 million principal amount of Sherritt's outstanding 7.50% Senior Unsecured Debentures due September 24, 2020. Proceeds from the sale of Sherritt's coal business on April 28, 2014, will be used to purchase these securities thereby reducing Sherritt's total debt by up to $400 million. Sherritt also announced concurrent solicitations of consent for proposed amendments to the indentures under which the 2018 Debentures and 2020 Debentures were issued. The proposed amendments to the indentures will amend and restate the indentures so that the covenants and certain other provisions of the Debentures will be substantially similar to those of a proposed new issue of debentures. Subject to the completion of the offers and the solicitations of consent, Sherritt intends to issue up to $300 million principal amount of debentures due 2022. Subject to the completion of the offers, the solicitations of consent and the completion of an offering of the 2022 Debentures, Sherritt intends to refinance the outstanding 7.75% Senior Unsecured Debentures due October 15, 2015 using the proceeds from the sale of the 2022 Debentures. The execution of these transactions will achieve the following key objectives for Sherritt: Reduces total debt significantly and strengthens the balance sheet; Retains proceeds from the sale of the coal business to enhance liquidity; Refinances the 2015 Debentures and extends the maturity profile; and Reduces the aggregate principal amount of 2018 Debentures and 2020 Debentures.

Sherritt International Reports Earnings and Production Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Production Guidance for the Year Ending December 31, 2014

Sherritt International reported earnings and production results for the second Quarter and six months ended June 30, 2014. For the quarter, the company reported adjusted EBITDA of $75.4 million increased 42% for the three months ended June 30, 2014 compared to $53.2 million in the prior year period primarily due to higher adjusted EBITDA contribution from the Metals business and due to the fact that an impairment was recognized in the Power business in the prior year. Net loss was $30.1 million or $0.10 per share compared to $10.7 million or $0.04 per share in the same period in the prior year principally due to the Corporation’s share of losses in Ambatovy, which primarily consisted of significant depletion, depreciation and amortization of $40.3 million (Sherritt’s share). Adjusted operating cash flow from continuing operations per share was $0.01 compared to $0.09 per share in the same period in the prior year largely due to timing of income tax payments. Revenue was $130.2 million against $121.7 million for the same period a year ago. For six months, the company reported revenue of $251.1 million, adjusted EBITDA of $130.3 million, net loss per share of $0.26 and adjusted continuing operating cash flow per share of $0.11 against revenue of $228.7 million, adjusted EBITDA of $114.5 million, net earnings per share of $0.04 and adjusted continuing operating cash flow per share of $0.19 for the same period a year ago. For the quarter, the company reported nickel production of 3,870 tonnes (7,740 tonnes, 100% basis) and cobalt production of 376 tonnes (751 tonnes, 100% basis) were in line with production compared to the prior year period. Nickel and cobalt production at Ambatovy in the second quarter was slightly better than the first quarter and both achieved quarterly production records. In the second quarter of 2014, 3,602 tonnes of nickel was produced (9,004 tonnes, 100% basis), representing a 26% increase over the prior year period. Also during the quarter, 285 tonnes of cobalt was produced (712 tonnes, 100% basis), representing a 14% increase year-over-year. For six months, the company reported For six months, the company reported production of 16,492 million tonnes against 14,169 million tonnes a year ago. The company reported nickel production of 7,509 tonnes and cobalt production of 732 tonnes were in line with production compared to the prior year period. During the period, 7,114 tonnes of nickel was produced against 5,186 tonnes for the same period a year ago. Also during the period, 562 tonnes of cobalt was produced compared to 466 tonnes of cobalt for the same period a year ago. For the year ending December 31, 2014, the company expects production volumes to be in the range of 77,000 units to 82,000 units. Spending on capital (excluding Projects and Corporate) to be $187 million. The company expects production of Nickel, finished (tonnes, 100% basis) to be in the range of 71,000 units to 75,000 units, Cobalt, finished (tonnes, 100% basis) to be in the range of 6,050 units to 6,450 units, Oil ­ Cuba (gross working-interest, bopd) to be 19,000 units and Oil and Gas ­ All operations (net working-interest, boepd) of 11,200 units.

 

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