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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: geoffrey Wren who wrote (42376)	4/22/2011 12:23:54 PM
From: E_K_S	Read Replies (1) \| Respond to of 78530

Hi Geoffrey - This is another small cap "value" stock you might want to look at. Re: MARINE HARVEST ASA (Other OTC: MNHVF.PK ) I recently discovered this small cap food stock (fish farming). I look at it as a GARP stock w/ hidden value (high BV) and the only pure play I have found in the farming sector. Seeking Alpha came out with this article earlier this month. Why I Am Buying Marine Harvest April 14, 2011 seekingalpha.com -------------------------------------------------------------------------- Marine Harvest Q1 profit, harvest rises 14-Apr-11 08:23 am forexyard.com 'OSLO, April 14 (Reuters) - World number one fish farmer Marine Harvest said first-quarter operating profit soared from a year ago as harvest volumes exceeded expectations. *Operating profit at the Norwegian company grew 58 percent to about 960 million crowns ($176.6 million)*, it said on Thursday in an update of its earnings before the full quarterly report next month. The total salmon harvest of 76,000 tonnes beat its forecast from the previous quarter of 73,000 tonnes. In the first quarter last year, total harvest was 73,061 tonnes.' ------------------------------------------------------------------- After three years of operation, they are finally hitting their profit targets. Overall profit margins are now around 20%, there is strong demand for their processed products and they seem to have worked out their farming operational bugs too. The company has a high book value and carriers a small amount of debt compared to their net income. Marine Harvest has a stated policy of returning a minimum of 75% of free cash flow as dividends to shareholders, Marine Harvest also looks quite promising as a dividend growth play as the company continues on with its aforementioned growth. EKS Disclosure: I am close to a full position w/ an average cost of around $1.23/share.