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IntraFish Stockwatch: Chile's salmon shares are on a tear this year

With high salmon prices and a new regulatory scheme, investors are bullish on Chile once again.

Just two days after the implementation of the Individual Management Plan (IMP) announced in October last year, the Santiago Stock Exchange opened with five Chilean salmon farmers among the eight top gainers, extending a streak that has seen eye-popping rises in shares over the past year.

Year-on-year, the share value of Chile's salmon companies has increased dramatically:

  • Australis: +197.5 percent
  • AquaChile: +95.65 percent
  • Multiexport: +200 percent
  • Camanchaca: +164.7 percent
  • Blumar: +85.70 percent

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The climb is due in part to strong salmon prices over the past two quarters and in 2016 in general; and also based on forecasts that production will continue to be tight, keeping pressure on prices

 

Sharp gains in past week alone

On March 2, Australis’ shares opened at its high that day, CLP 32 (€0.05/$0.05), up 9.9 percent from the previous trading day; AquaChile’s shares increased 8.1 percent to CLP 360 (€0.52/$0.55), and shares of Camanchaca rose 5.3 percent on the previous day to CLP 40 (€0.06/$0.06), eventually reaching a high of CLP 42 (€0.06/$0.06).

Multiexport's shares opened at CLP 262 (€377.5/$398.5),up 4.8 percent from the previous day, and reached a high of CLP 270 (€0.40/$0.40). Blumar’s shares opened at at CLP 161 (€0.23/$0.24), up 4.4 percent from the day before, reaching a peak of CLP 162 (€0.23/$0.25).

On Friday, Australis shares opened at CLP 31.03 (€0.04/$0.05), down from the previous closing at CLP 31.25 (€0.05/$0.05), and hit a high of CLP 31.55 (€0.05/$0.05) during the day.

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Source: Bloomberg

AquaChile's shares opened and remained at CLP 346 (€0.50/$0.53), down 1.1 percent from the CLP 350 (€0.50/$0.53) in which it closed the previous day.

Source: Bloomberg

Multiexport shares opened Friday at CLP 250 (€0.36/$0.38), and reached a high of CLP 255 (€0.37/$0.39), still lower than its opening the previous day.

Source: Bloomberg

Camanchaca's shares opened at CLP 41.50 (€ 0.20/$0.20), down from the previous close, and remained at those levels throughout the day.

 

Source: Bloomberg

Meanwhile, Blumar's shares opened at CLP 156 (€0.22/$0.24), and reached a high of CLP 162 (€0.23/$0.25), matching that of the previous day.

 

Source: Bloomberg

 

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