Re YCA: "Estimated net asset value as at 31 December 2021 of £3.31 per share 1 or US$818.6 million, comprising 15.83 million lb of U 3 O 8 valued at a spot price of US$42.00/lb 2 and cash and other current assets and liabilities of US$153.6 million."
Currently trading at £3.21, so isn't the discount to NAV more like 3%?
Analysis above reflects latest cash and other assets/liabilities position as published on 21 Jan 2022, which is after the 31 Dec 2021 financials published in Q4 update yesterday.
Hi Conor, What's your take on $BAYRY with a view to their crop science segment? Think of the challenges for global agriculture which will come with the climate change. Thanks for your work. Best regards, Johannes
Thanks for reading and commenting Johannes. I haven't looked at BAYRY in any great detail, but it doesn't appear that undervalued on a forward earnings basis. While it is the market leader in terms of its crop science segment, it's not a pure play on the theme and I think it's hard to the stock offering 50% - 100% upside from here. I could be wrong but I think there are better plays at the moment.
im super horny for PANR for obvious reasons. Love your blog and weekly email.
Thanks Conor.
Re YCA: "Estimated net asset value as at 31 December 2021 of £3.31 per share 1 or US$818.6 million, comprising 15.83 million lb of U 3 O 8 valued at a spot price of US$42.00/lb 2 and cash and other current assets and liabilities of US$153.6 million."
Currently trading at £3.21, so isn't the discount to NAV more like 3%?
Analysis above reflects latest cash and other assets/liabilities position as published on 21 Jan 2022, which is after the 31 Dec 2021 financials published in Q4 update yesterday.
https://www.yellowcakeplc.com/wp-content/uploads/2022/01/Yellow-Cake-Investor-Presentation-January-2022.pdf
Currently trading at £3.19, and with spot uranium at $43.15 per Sprott yesterday, current P/NAV is 0.95x (GBP: USD - $1.35: £1).
Hi Conor, What's your take on $BAYRY with a view to their crop science segment? Think of the challenges for global agriculture which will come with the climate change. Thanks for your work. Best regards, Johannes
Thanks for reading and commenting Johannes. I haven't looked at BAYRY in any great detail, but it doesn't appear that undervalued on a forward earnings basis. While it is the market leader in terms of its crop science segment, it's not a pure play on the theme and I think it's hard to the stock offering 50% - 100% upside from here. I could be wrong but I think there are better plays at the moment.
Okay. Is 50% to 100% what you expect for $BG and $ANDE? As for $BAYRY in comparison, I had looked at a 5 year chart: $BG +41%, $ANDE +3%, $BAYRY -46%.
Yes. If you look back at the analysis on BG you’ll see potential upside of 85% under the Base Case for the various reasons identified.
Alright, thanks. Will take a closer look!