Companies / BEEF3
BVMFMinerva S.A. (BEEF3) in our theses
Minerva S.A. appears in one of our theses. Below is why it entered the basket and how it has done since publication.
America Is Running Short of Cattle: The Smallest Herd Since 1951 Is Tilting Global Beef Trade Toward the South
The US cattle deficit is locked in for years by the biology of the herd cycle, and record imports are shifting margin to beef exporters in Brazil and Australia.
Why this company: The largest beef exporter in South America after acquiring Marfrig's plants. The cleanest exposure to the arbitrage: it buys cheap cattle in Brazil, Uruguay and Paraguay and sells into a record-expensive US market and into China.
Where these numbers come from
The reference price is recorded on the thesis publication date and never changed afterwards. The current price is refreshed several times a day. Returns are in the listing currency and exclude dividends, so for dividend payers the real total return was somewhat higher.
This is not a recommendation to buy or sell. A company enters a basket as a beneficiary of the mechanism described in the thesis, and the full argument is on each thesis page.
See all of our theses
Each with a publication date, a causal map and a score assigned before the market ruled.
Open in Invesaro →