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$2.11 ridley corporation limited

Is this overvalued?, page-2

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Cocky5

1,240 Posts.

248

13/10/23

00:09

Post #: 70319847
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Originally posted by human909: ↑

Is this overvalued?

A genuine question. From a former investor in RIC who rode that wave from 70-80c to $2. And also somebody who as their finger on the pulse of the animal feed market.

Ridley has done great things to turn themselves around. And from what I am directly seeing they are continuing to be doing great things in terms of efficiency upgrades of existing mills. This is what they have indicated in their shareholder communication, but you get the same story by talking to your local miller at the pub near a Ridley site.

But at $2.30, does that not seem slightly overvalued unless there is massive profit growth or capacity growth in the pipeline?

As an argument against myself I suppose it depends on owns forecast of Ridley's continuing growth. With a rapidly growing population, the local food demand will continue to increase.

I'm continuing to sit on the the sidelines on RIC. But it is a company I continue to watch but current do not hold.

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well 909, that is an excellent question. I see the control value of RIC could be as high as 40cents. 2.80. This price would be acceptable

RIC Price at posting: $2.29 Sentiment: Buy Disclosure: Held
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(20min delay)
Last $2.11		Change 0.000(0.00%)		Mkt cap ! $666.4M

Open	High	Low	Value	Volume
$2.11	$2.12	$2.10	$212.6K	100.7K

Buyers (Bids)

No.	Vol.	Price($)
6	36376	$2.10

Sellers (Offers)

Price($)	Vol.	No.
$2.13	12374	2

View Market Depth

No.	Vol.	Price($)
6	36376	2.100
3	6318	2.090
3	30944	2.080
1	944	2.070
2	15944	2.060

Price($)	Vol.	No.
2.130	12374	2
2.140	3663	3
2.150	16370	3
2.160	11370	3
2.170	1370	2

Last trade - 16.10pm 22/07/2024 (20 minute delay)

RIC (ASX) Chart