Something may be happening with NAM. Price has moved up in the last month with elevated volumes. Unfortunate news of CEO passing away last week. However he was instrumental in rebuffing a takeover bid from Olam International a few years ago. Given all the international interest in commodities and agricultural related stocks recently, could it be that the company is now in play?
Positives include heavy rains making for good planting season ahead, strong commodity prices and takeover activity.
Negatives high Australian dollar.
Failed Olam bid was in 60 - 70c range, so current price is in upper end of valuation.
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