Agree there seems no short term catalyst to move share price higher , beef prices still v strong though the AAC business model is now more complex and not a direct correlation with beef prices for some parts of business. That said with 500 000 odd cattle the beef price has a big impact on NTA.
NTA (adjusted for Joe Lewis convertible note dilution ) is $1.68 - given the quality of AAC properties and recent sales of 2nd tier properties its likely AAC is worth more. Bell Potter have valuation of $2.20 ( or $2.15 - $2.79 if they can achieve targeted return on their business model - some might say a big IF ).
Good to see Jason Strong staying the course and we are not seeing AAC flipping properties / changing breed according to the latest thought bubble as was the case before. Strategy is coherent.
Agree there seems no short term catalyst to move share price...
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Last
$1.37 |
Change
0.020(1.48%) |
Mkt cap ! $852.9M | |||
| Open | High | Low | Value | Volume |
| $1.35 | $1.38 | $1.35 | $265.6K | 194.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 19999 | $1.37 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.39 | 1364 | 2 |
View Market Depth
| Last trade - 16.10pm 29/11/2024 (20 minute delay) ? |
| AAC (ASX) Chart |
