Since my last post, I've adjusted my price target to $5,900 per share. Analysts are too conservative and wrong about $NVR and the influence of the unprecedented action from the Fed. That said, my price target has many assumptions baked in including continued low rates through all of 2021, a Trump re-election (extension of the low tax regime) and COVID...
Despite a horrible quarter, where management failed to take advantage of incredibly low share prices, I find myself coming back to $SEB for the same reasons I invested in the first place. You could say management was conservative by not spending big on repurchases and instead using the money to repay debt, fine, maybe so, but it was dumb and they still have a...
Seaboard released Q1 2020 earnings last night. Here’s an update and my views on how it went.
Q1 revenues increased 9% to $1.68B up from $1.54B in 2019 < very impressive given COVID
Net income was -$88.43 per share compared to $43.47 in 2019. The decline in net income is related to $236M in mark to market losses on investments. Mark to market losses are...
$SEB is interesting to me for a lot of reasons. This isn't any sort of technical analysis.
First the company is very diverse. They have achieved near complete vertical integration in all of their businesses (pork, flour, sugar, alcohol, turkey, wheat, shipping etc.). Seaboard is also a very conservative company and is disciplined with capital allocation. ...
Sibanye has been a prime beneficiary of the recent surge in PGM, specifically palladium. At less than $800/oz AISC on it US PGM operations, EBITDA has increased nearly 100% YoY (US Ops). Nowhere else can you get this kind of exposure to PGM with adequate liquidity.
Look at the outperformance relative to it's peers (which were also saw huge increases thanks to...
