I think they just have to reset their expectations with what capital they have avaliable...they tried to squeeze through with the growth capex in seeds etc but debt ran up and then a setback in the seed performance really exposes them to the debt run up....market sells them off. If anything I would be critical of pumping up the Omega 3 business when the prices were high and fish catches low but its a volatile business so they got caught out at just the wrong time....
they just now need to reset, sell 50% of the seed business at book value, say raise $400-450m and debt would be well back within normal ranges.......and they would still have some growth exposure,
its not all bad but agree they have some challenges....the action they are taking is actually the best one for the company which is encouraging...
NUF Price at posting:
$2.63 Sentiment: Hold Disclosure: Held
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