ELD’s comprehensive footprint covers farm & rural insurance, commodity exchanges, and property / farming equipment sales. Hence by definition ELD is a great proxy for the health of the Australian Agricultural Sector and not surprisingly this South Australian based company has enjoyed a strong few years where COVID was no more than a blip on the radar. We like this $1.8bn sector goliath which comes with the added bonus of a steady greater than 3% yield, the issue is price / valuation. We like ELD under $12 but its far more exciting below $11.
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Performance update for March, stocks that drove returns & our current positioning
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Friday 26th April – ASX200 -101pts, Newmont (NEM), Resmed (RMD) & Super Retail (SUL)
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Market Matters Research Lead Shawn Hickman with David Koch
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MM likes ELD into weakness
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