Lower Cobalt Prices Contribute to Drop in Profits for Sherritt

Globe and Mail reported that Sherritt Mining (TSX:S) reported lower profits in first quarter, citing lower cobalt and nickel prices.

As quoted in the market news:

The company’s average realized nickel price in the quarter amounted to $8.66 per pound, down from $11.73 a year ago, while Sherritt received $14.10 per pound of cobalt, down from $17.55.

Click here to read the full Globe and Mail report.