Stocks of the Hour: Sunstone Metals, Select Harvests, True North Copper
A snapshot of the stocks on the move, featuring Sunstone Metals (ASX:STM), Select Harvests (ASX:SHV) and True North Copper (ASX:TNC).
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Select Harvests is Australia’s largest vertically integrated nut and health food company with core capabilities across: Horticulture, Orchard Management, Processing, Sales and Marketing. These capabilities enable us to benefit throughout the value chain.
Select Harvests are one of Australia’s largest almond growers and the country’s leading manufacturer, processor and marketer of nut products, health snacks and muesli to the Australian retail and industrial markets, in addition to exporting almonds globally.
A snapshot of the stocks on the move, featuring Sunstone Metals (ASX:STM), Select Harvests (ASX:SHV) and True North Copper (ASX:TNC).
Watch Now
The end of La Nina's disruptions and the return of El Nino’s dry weather may well portend better times ahead for almond grower Select Harvests.
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The improvement in the outlook for global almond prices and demand has seen Australian grower Select Harvests upgrade its expectations for its 2021 crop by more than 20%.
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A fair bit going on at the moment, here are a few developing stories from over the weekend we thought you might like updates on, involving PEXA / LNK, ING, SHV, TAH and FMG.
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Despite the NSW floods almond harvest volumes at Select Harvests are unchanged, although softer prices have driven a reduction in earnings forecasts.
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Shares in the ASX-listed almond producer Select Harvests have been cracked by investors after the company released a weak first-half result and cut its interim dividend.
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A strategy focused on actual businesses with momentum can repel market volatility. Importantly it can help you ride out any volatility because you understand that a "tweet" doesn't translate to any effect on profits.
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Select Harvests has used strong cash flow over FY19 to pay down all debt and underpin production growth for the future.
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FY19 results were ahead of UBS estimates at both the earnings (EBIT) and net profit level. Strong cash flow has allowed the company to pay down all debt and provides for a material future growth option.
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The dry conditions in many of the key farming regions highlight the importance of water security for our listed agricultural plays. When it comes to water rights, some are in a better position than others.
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