Salmar ASA

SalMar is a producer of Atlantic salmon and is integrated from roe and smolt to products and sales. Co. has farming operations in Central and Northern Norway, as well as in Scotland. Co. has operating licences for marinephase fish farms and hatcheries in central Norway and Troms County. Co. has 66 licences for production of farmed Atlantic salmon in Norway: 53 in central Norway (More & Romsdal, South and North Trondelag) and 13 in northern Norway (Troms)
  • TickerSALM
  • ISINNO0010310956
  • ExchangeOslo Bors
  • SectorFood Producers
  • CountryNorway

Analysts

Alexander Aukner ...
  • Jon Masdal
  • Marius Knudssøn
  • Martin Huseby Karlsen
  • Nicolay Dyvik
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Simen Mortensen
  • Stefan Gauffin

Northern Lights

Martin Kaland

SalMar - Operational performance set to improve

Q4 hampered by poor timing of harvest and sales Soft trends in H2’19 set to turn on better biological control Quality deserves a premium, valuation looks fair

Alexander Aukner

SalMar (Buy, TP: NOK480.00) - Year-end stumble

Q4 operational EBIT of NOK658m was 26% below our estimate and 23% below consensus, mainly driven by lower realised prices due to harvest timing. Underlying operations, however, appear to be on track, and management remains upbeat about the cost reduction potential. The proposed 2019 DPS of NOK21 was in line with expectations. We have trimmed our EPS by 1.3% for 2020e and 0.5% for 2021e, but reiterate our BUY and NOK480 target price.

Martin Kaland

SalMar - Operational performance set to improve

Q4 hampered by poor timing of harvest and sales Soft trends in H2’19 set to turn on better biological control Quality deserves a premium, valuation looks fair

Alexander Aukner

SalMar (Buy, TP: NOK480.00) - Year-end stumble

Q4 operational EBIT of NOK658m was 26% below our estimate and 23% below consensus, mainly driven by lower realised prices due to harvest timing. Underlying operations, however, appear to be on track, and management remains upbeat about the cost reduction potential. The proposed 2019 DPS of NOK21 was in line with expectations. We have trimmed our EPS by 1.3% for 2020e and 0.5% for 2021e, but reiterate our BUY and NOK480 target price.

Martin Kaland

SalMar - Q4’19: EBIT -23% and DPS -3% vs consensus

Q4’19: EBIT 23% below cons due to price achievement DPS -3% vs cons, ‘20e harvest guidance up for Iceland Expecting cons ‘20e EBIT down ~0-5%

Alexander Aukner

Seafood - Fat Trout Weekly

Seafood - Fat Trout Weekly

Alexander Aukner

Seafood - Fat Trout Weekly

Seafood - Fat Trout Weekly

1 director maiden bought

A director at Salmar Asa maiden bought 2,300 shares at 436.000NOK and the significance rating of the trade was 61/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of ...

Alexander Aukner ...
  • Jon Masdal
  • Marius Knudssøn
  • Martin Huseby Karlsen
  • Nicolay Dyvik
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Simen Mortensen
  • Stefan Gauffin

Northern Lights

Alexander Aukner ...
  • Christer Magnergård
  • Joachim Gunell
  • Nicolas McBeath
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Paul Harper
  • Simen Mortensen
  • Viktor Trollsten

Northern Lights

Alexander Aukner ...
  • Christoffer Wang Bjørnsen
  • Eivind Sars Veddeng
  • Frank Maaø
  • Håkon Astrup
  • Jesper Ingildsen
  • Joachim Gunell
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Martin Hoang Nguyen
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Patrik Ling
  • Simen Mortensen

Northern Lights

Alexander Aukner ...
  • Joachim Gunell
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Martin Huseby Karlsen
  • Nicolay Dyvik
  • Ole-Andreas Krohn

Northern Lights

Alexander Aukner ...
  • Frank Maaø
  • Jesper Ingildsen
  • Jon Masdal
  • Martin Hoang Nguyen
  • Nicolay Dyvik
  • Ole-Andreas Krohn
  • Patrik Ling
  • Rune Majlund Dahl
  • Simen Mortensen

Northern Lights

SALMAR ASA reduced its risk exposure resulting in an upgrade to Positive

SALMAR ASA (NO), a company active in the Farming & Fishing industry, reduced its market risk and raised its general evaluation. The independent financial analyst theScreener awarded an improved star rating to the company, which now shows 4 out of 4 possible stars; its market behaviour has improved and can be considered as defensive. theScreener believes that this new assessment merits an overall rating upgrade to Positive. As of the analysis date February 21, 2020, the closing price was NOK 487.10 and its potential was estimated at NOK 522.81.

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