Shares of salmon farmer, SalMar, have risen in value by 50 percent this year and are their highest levels ever.
On Wednesday morning, SalMar shares were trading at NOK 372. That priced the company at EUR 4.16 billion.
Analyst Tore A. Tonseth at SpareBank1 Markets said SalMar is being perceived as a quality salmon farmer with good control of costs and advantageous long-term contracts for fish sales.
“That makes the stock perform strongly,” he said. He cautioned, however, that at that price, the stock is starting look pricy.
“We’re of the belief that it has climbed a little too much,” Tonseth said, adding that the company’s excellent earnings results are already priced into their share-price target.
Tonseth said he doesn’t believe the company will be affected negatively for being linked to a woman arrested in China recently for allegedly smuggling Norwegian salmon across the border from Vietnam.