Monday, May 9, 2011

Share Price Alert: Port of Tauranga Ltd

Ports of Tauranga Ltd [POT.NZX] have had a truely spectacular run share price wise in 2011.

From a September 2010 share price of $6.75 POT shares have piled on almost two bucks or nearly 30% to finish trading at $8.70 on Friday 6 May. 2011 alone has seen its share price rise by just over 1 dollar, the bulk of that rise being in the last 6-7 weeks alone.

This has come as a result of a good performance for the 2011 half year result, up a stunning 23% on the 2009 result.

This is a result of massively increased cargo volumes through the port, especially imports. These volumes seem mostly be related to increases in the imports and exports from the farming sector and look set to continue if record commodity prices hold and especially if the US dollar strengthens.

You would have to say that the market has factored in reasonably well where the company is going in the medium term so the company may well be fairly priced given that everything seems to be going well for the company at present.

Having said that, ports are highly cyclical businesses and if you are looking for a price pullback and have wanted this great company for your portfolio you might want to be patient and wait for an inevitable weakness in cargo volumes.

Timing here is everything.

Share Price Alert Series

Port of Tauranga Ltd
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Mainfreight Ltd
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POT @ Share Investor

Long Term View: Port Of Tauranga Ltd
Port in a storm
Ports of Auckland put a shot over competitor's bow

Discuss POT @ Share Investor Forum

c Share Investor 2011

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