SHARES in the world’s largest cattle producer, the listed Australian Agricultural Co, have shot to a new four-year high this week, on the strength of last week’s announcement over re-valuation of property assets.

The stock closed on the ASX this afternoon at $1.88, up 19c or 11 percent since the start of May, and up a solid 63c on this time last year. The last time share value was this high was mid-2017, just prior to the drought.

There’s also been a significant lift in daily trading volumes over the past week, including several days where well over one million shares were exchanged. Finance media chatter on Friday suggested a large western Australian buyer was responsible.

See Beef Central’s earlier article quoting Heytesbury’s Peter Holmes a Court’s move to securing a significant shareholding in AA Co, and a separate article here marking fellow Western Australian, Twiggy Forrest’s similar move a week or two later.

Back on May 9, AA Co told the market (click here to view earlier story) that it was expecting a $250 million boost to the fair value of its pastoral property assets, pushing the aggregate figure up to $1.17 billion as at 31 March. In net tangible asset terms, that’s going up from $1.88 to $2.10 a share.

Full year results being reported tomorrow (Thursday May 19) will inevitably show AA Co’s livestock valuation rising, as well.

• Stay tuned later tomorrow for Beef Central’s reports from the full year analyst’s results briefing.