Let's face it, it's a boring stock that struggles to get coverage, but there has been a rotation to value stocks and Ridley fits the bill of an undervalued stock, imo.
Per the investor presentation, EBITDA improving and net cash flows turning positive are clearly good news stories and suggest the turnaround strategy is working. Australia's richest person seems to agree too - Andrew Forrest a recent substantial holder.
Agree it's probably due a retracement (not a correction), but the long term trend is still up.
Ridley Price Rise, page-3
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Last
$2.49 |
Change
-0.040(1.58%) |
Mkt cap ! $786.4M | |||
| Open | High | Low | Value | Volume |
| $2.49 | $2.51 | $2.48 | $411.3K | 165.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 3704 | $2.48 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.50 | 360 | 1 |
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| Last trade - 16.10pm 08/10/2024 (20 minute delay) ? |
| RIC (ASX) Chart |