GrainCorp. Ltd. (GRCLF) is up as much as 13.64% on dollar volume of over 160K. This higher share priced stock is currently trading at $12.50, and even hit a high of $12.60 today.
The only mention that we find in any news is this from minyanville.com:
GrainCorp (GRCLF.PK)
This also trades in Australia as GNC; 4.57% yield.
Australia’s GrainCorp is one of the last remaining independent grain-trading companies in a sector that is consolidating quickly. I think it’s a good candidate for acquisition sometime in the next 18 months. In the meantime, the company is projected to grow earnings per share by 13% in the fiscal year that ends in September. (Read this here)
About GrainCorp:
GrainCorp is an Australian ASX 100 company founded in 1916 and was originally part of the NSW Government’s Department of Agriculture.
GrainCorp is engaged in the provision of services along the grain supply chain including:
- grain receival, handling and storage through upcountry receival sites, rail and road freight services and port exporting facilities;
- production of malt for the brewery and distillery industries, and flour for predominantly human consumption; and
- grain marketing/trading activities including domestic and international sales and the operation of grain pools.
GrainCorp operates in three core geographies (Australia, North America and Europe). It focuses on adding value to three core grains (wheat, barley and canola) through its integrated grain activities of Storage & Logistics, Marketing and Processing.
GrainCorp‘s mission and vision are:
- Mission – be an international agribusiness that creates value by connecting consumers to growers along the grain chain
- Vision – grow as our grain customers’ preferred partner – driven by our passionate people and assets around the world