Topic: Growth Stocks

Stock Pickers Digest Hotline – Friday, September 25, 2015

Article Excerpt

SHERRITT INTERNATIONAL, $0.81, symbol S on Toronto, has suspended its $0.01-a-share quarterly dividend to conserve cash. The company had previously cut its payout from $0.043 a quarter to $0.01 in early 2014. Nickel prices have fallen 32%, to $4.50 U.S. a pound, since it made that cut. The elimination of the dividend should save $12 million a year. Sherritt has also said it will cut its 2016 capital spending by as much as 25% to 35%. Earlier this year, it lowered its planned 2015 capital spending to $195 million from $210 million. The company needs an improving global economy to fuel demand for the two currently depressed commodities it produces: nickel and oil. But it’s well positioned to profit when markets rebound. Sherritt is a buy for aggressive investors. Sherritt was recently covered in the October 2015 issue of Stock Pickers Digest. Click here to access it. Sherritt was recently covered in the Stock Pickers Digest Hotline for September 4, 2015. Click here to…