Saturday, June 27, 2015

Recent Trade

During the past couple of months, a stock that I trade from time to time decreased in value. Over the last 3 months the stock hit a high on May 8th and closed at $3.10 per share. The stock has fallen dramatically since May 8, and is currently trading at $2.10 a share. There continues to be weakness in the commodities and investors have ongoing concerns about Greece.

Sherritt is a mining company that is headquartered in Canada. They have mining operations in Canada, Cuba and Madagascar. A major issue with the company was the possible strike action of union workers at their Madagascar operations.
The two main trade unions at Sherritt International Corp's Ambatovy nickel mine in Madagascar will not call a new strike over job layoffs for now and are still seeking dialogue, union officials said on Friday.  (source: Reuters ).
On Jun 25, 2015, I purchased 350 shares of Sherritt International Corporation ( ticker symbol S.TO) at $2.12 a share for a total cost of  $747.12 including commissions. This trade is in my margin account.  This entry point is the lowest entry point for me when it comes to purchasing shares of Sherritt International corporation.

Sherritt International is scheduled to pay a dividend on July 14, and the ex-dividend date is June 26. So I am eligible to receive this dividend as I purchased my shares on June 25.

The stock is down approximately 26% since Nov 25, 2014.  This stock position is a trade, and therefore will not be holding for the long term.

I am not a financial planner, financial advisor, accountant or tax attorney. The information on this blog represents my own thoughts and opinions and should NOT be taken as investment or business advice.

Every individual should do their due diligence to make their own financial decisions based on their financial situation and tolerance for risk.

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