No worries. Trading just above a 10 p/e and dividend yield just over 7% at current share price. In today's low yield environment you can't go wrong. Salt still selling down? For every seller is a buyer..
Maybe, who knows, but don’t ignore the money imo. Follow it but don’t ignore it. What the funds do is dyor, watch it
Reef fish feed off the detritus of the apex predators, they circle out of range of the large teeth and pickup the scraps left behind.
When the apex predators move to a different target, take notice.
Just saying
Seems as though the fund (whoever that's selling) is in a hurry to dump their holdings at any price.
Worthwhile comments.
We should not forget that it is hardly possible for a fund to sell a larger holding on the down leg (because this would crash an already weakened SP). The only sensible way for them to dispose a large holding is on the way up (obviously - as close to the peak as possible :):
How much did the TRA board say their share is worth (while it was dropping)? I think we exceeded this number already ...
They kept telling us a few years ago the shares were worth in excess of $3 and the directors were buying at the price
Allow for a couple years of improved performance and the current ‘lowest interest rates ever’ (or whatever the popular phrase is) surely that $3 must be $4 by now.
Company buyback was around $2.50/$2.70 I think (maybe lower?)
Shares seem very sound value to me. Compelling metrics, strong tailwinds in the sector and if they can pay 20 cps fully imputed next year that's a forecast FY22 gross yield of 8.8% at $3.15 with the bonus of quarterly dividend payments. I'm a happy holder.
Based on the mid point of their FY21 forecast that's ~ 29 cps share so FY21 PE is just 10.9 !