Are these under $5 TSX metals and mining stocks worth exploring?

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 Are these under $5 TSX metals and mining stocks worth exploring?
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  • Sherritt’s adjusted EBITDA in Q3 2022 was C$ 37.4 million.
  • Polymet’s cash was noted at US$ 8.6 million on September 30, 2022.
  • In Q3 2022, Sherritt’s revenue was noted at C$ 30.2 million.

The S&P/TSX Materials Index accounts for 11.69 per cent of the total index and grew six per cent quarter-to-date (QTD). Though the sector gained, but investors must be careful of their stock selection.

It is vital to align your stocks with your portfolio needs to get the desired results. Your selected stocks must be in sync with your portfolio needs. Check for stocks that may offer future growth prospects. This factor may play a key role in the investment journey. But do not solely rely on it and widen your horizon to pave the way for a stable portfolio.

Post-pandemic, the materials sector has witnessed several fluctuations. Hence, reconsider your decision to choose the same stock again and again. Here are two stocks to explore along with their recent financial highlights:

  1. Polymet Mining Corp. (TSX: POM)

PolyMet Mining focuses on developing and exploring natural resource properties. The primary mineral property of the company is a polymetallic project-NorthMet Project, in Minnesota, USA. Polymet’s ultimate plan is to produce cobalt, copper, nickel, platinum.

As on September 30, 2022, Polymet’s cash was noted at US$ 8.6 million versus US$ 2.95 million on December 31, 2021. The company’s total assets also increased and were posted at US$ 479.78 million from US$ 468.12 million for the same comparative period. The operating expenses rose to US$ 3.12 million from US$ 2.19 million.

The EPS of POM and S:

  1. Sherritt International Corporation (TSX: S)

Sherritt International carries out nickel refining and mining from lateritic ores. The company’s projects are present in North America, Cuba, and Canada. The company's major segments include- Metals Other, Moa JV and Fort site, Technologies and Corporate and Power.

In Q3 2022, Sherritt’s revenue witnessed an increase and was noted at C$ 30.2 million versus C$ 20.7 in the same quarter of the previous year. The company’s earnings from operations and joint venture rose to C$ 21.3 million from a loss of C$ 10.8 million for the same comparable period. The adjusted EBITDA also grew to C$ 37.4 million from C$ 17.6 million. The cash provided by operating activities soared to C$ 18.8 million from C$ 16.2 million. The cash and cash equivalents decreased to C$ 137.6 million from C$ 145.6 million. The loan and borrowings also declined and were reported at C$ 398.6 million from C$ 444.5 million.

Bottom Line

The stock market is synonymous with uncertainty. Before entering, shield yourself with the right investment plan and goal. Keep your portfolio risk-free and opt for effective market analysis. Look for different factors that have an impact on your stocks as well as the overall market.

The materials sector has wide use and hence may benefit long-term investors. With inflation and high-interest rates hovering over the investors, the stock market may react differently for different investors. Be prepared for uncertainties and assess your risk appetite before fulfilling your investment needs.

Please note, the above content constitutes a very preliminary observation based on the industry and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.


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