Sanford value lurks below the surface

Thu, 01 Oct 2020

Covid-related disruption to global foodservice channels for seafood and cheap prices has scaled back Sanford's share price to the point where investors are effectively getting its aquaculture assets for free, investment firm Forsyth Barr says.Research analyst Guy Hooper rates fishing group Sanford an 'outperform' and said current pricing almost reflected the book value of quota and licences alone at $5.21 a share.The stock recently traded at $5.72, well below Hooper's estimate closer to $8.37 a share, which is based on a mixture...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Primary Sector

Co-ops last five times longer than limited liability companies - report

Riley Kennedy 9:30am

The Quiz Free

QuiznessDesk, Friday, Sept 19

Can you get them all correct without cheating?

The Quizmaster 9:15am

Policy Exclusive

Fish-hooks snag Nash's US foreign investor pitch

Claims of government support 'not as clear as they could be', says Invest NZ.

Pattrick Smellie 5:00am

Fish-hooks snag Nash's US foreign investor pitch

Sponsored

Future leaders start by Dreaming Big

How OnBeingBold empowers Year 13 girls at free leadership events.

OnBeingBold

Sponsored

Free AI training blitz targets 10,000 Kiwis

Workshops aim to close NZ’s AI skills gap and boost productivity – no tech skills required.

Sponsored by Lumify

More Primary Sector

Primary Sector

Co-ops last five times longer than limited liability companies - report

Riley Kennedy 9:30am

Primary Sector

Without Dawn Meats, Alliance faces 'real’ threat of collapse

The fate of the deal will come down to a shareholder vote next month.

Riley Kennedy 5:00am

Primary Sector

Dawn Meats offer for Alliance above independent valuation

A vote will be held next month.

Riley Kennedy 18 Sep 2025

Primary Sector

MyFarm KiwiFruit Fund launches $35 million capital raise

The MyFarm KiwiFruit Fund has launched a $35 million capital raise for wholesale and institutional investors, and those offshore that qualify for the Active Investor Plus visa.Units are being offered at $1.02, a 5% discount to the fund’s net asset value.The offer, which will clos...

Rebecca Howard 18 Sep 2025

Sanford value lurks below the surface

More Primary Sector

Your company has a subscription

Team