I'm bullish re agriculture in general and esp wheat price. NUF had a reasonable FY15 and outlook expects a slight improvement in FY16. But since then The Brazilian real has dropped another 10+% and likely to stay weak. New Argentinian President made the correct move and allowed currency to find its own value. The peso has dropped about 20% over past fortnight and it will hurt Nufarm's S. American (SA) earnings. These are 25% of revenue and the sharp falls in currency will more than cancel out any gains in mkt penetration.
Before the currency collapse NUF looked over priced. SP now is very expensive imo. I went short a while ago at $8.41av. What do others think re NUF's earnings for FY16?
will currency collapse in SA affect NUF?
Add NUF (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$3.95 |
Change
-0.030(0.75%) |
Mkt cap ! $1.510B | |||
| Open | High | Low | Value | Volume |
| $3.96 | $4.00 | $3.92 | $7.129M | 1.805M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1266 | $3.94 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.95 | 1263 | 1 |
View Market Depth
| Last trade - 16.10pm 29/08/2024 (20 minute delay) ? |
| NUF (ASX) Chart |