Sherrit Reports Lower Earnings, Higher Costs

Globe and Mail reported Sherritt International Corp. (TSX:S) reported a sharp drop in its first quarter earnings compared with a year ago, hit by lower nickel prices and higher costs.

As quoted in the market news:

The Toronto-based miner, which has operations in Cuba, said Wednesday it earned $32.3-million or 11 cents per share in its latest quarter compared with a profit of $63.6-million or 22 cents per share a year ago.

Revenue for the three months ended March 31 totalled $462.2-million, down from $474.5-million.

Click here to read the full Globe and Mail report.