Forum Archive Index - July 2003

Please note usage of the Forum is subject to the Terms & Conditions.

Messages by Date [	Next by Date	Previous by Date ]
Messages by Thread [	Next by Thread	Previous by Thread ]
Post to the Forum [	New message	Reply to this message ]

Printable version

[sharechat] SAN

From:	"Rob Shearer" <robere@xtra.co.nz>
Date:	Sun, 20 Jul 2003 20:23:32 +1200

Having a look at Sanford (SAN) lately on the back of its share decline from a high of $5.83 (28MAY03) to its current low of $4.80, not far off its 52 week low of $4.66.

Anyhow NTA of $4.19 (my calcs)

Price/NTA of 1.14

Valuation of the fishing quota (Assets) in the 2002 report is $240M.

There possibly is an argument that the fishing quota is undervalued by a significant amount (say 200M) giving it a Price/NTA of .71 or a discount to share price of over 30%. The under valuation is based on a conversation with someone who knows the fishing industry. Throw in some other indicators:

Dividend Yield 5%

Current ratio 3.8

P/E 12

Could be a good buy if it share price continues to fall.

Any techies got anything to add on the price trend?

Messages by Date [	Next by Date:	[sharechat] MetaStock Question trader 100
	Previous by Date:	[sharechat] Radiata Pine Trees mick ]
Messages by Thread [	Next by Thread:	[sharechat] Radiata Pine Trees mick
	Previous by Thread:	[sharechat] MetaStock Question trader 100 ]
Post to the Forum [	New message	Reply to this message ]