Salmon Business

Land=based Salmon Farming Makes Sense

Sep 25, 2019
Dag Hammer, who manages manager equity funds DNB Norway Selective and DNB SMB, has faith in land-based salmon farming.
In an interview in Saturday’s paper edition of Finansavisen, DNB manager Dag Hammer said that he believes that it is a challenging time with the stock markets nearing an all-time high, as well as great uncertainty surrounding the trade war and economic growth.
But Hammer highlighted various individual stocks, including Oslo Stock Exchange-listed Atlantic Sapphire. At closing time on the market on Friday, its stock price was NOK 106.
“It’s been one of my favourite stocks for a long time. Today, land-based salmon farming makes financial sense since the costs for traditional farmer have gone up because of lice problems,” Hammer told Finansavisen.
Atlantic Sapphire has already put salmon in the tanks, and the company is also opening its own feed factory.
Hammer says it’s an advantage that Atlantic Sapphire management has long experience in land-based salmon farming. He also believes that the Atlantic Sapphire share is exciting from an ESG (Environmental, Social, and Governance) perspective.
“The company is in the process of building the production facility in Miami, and it is estimated that the first salmon harvest will be done in the second half of 2020. Atlantic Sapphire has ambitions to harvest 220,000 tonnes of salmon in 2031, which by doing so, will be one of the world’s largest Atlantic salmon farmers,” Hammer said.
https://salmonbusiness.com/dnb-equity-fund-manager-today-land-based-salmon-farming-makes-financial-sense/

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