This reminds me so much of FMG just a few short years ago... (around 2018????)
FMG was printing money, about $1b per month and the price was around $4. (The now ex-wife made me sell at $4.50....)
It was well undervalued, and Twiggy decided on a $500m buy back. It's what started the rocket, now look at them.
Unless they need the capital expenditure elsewhere for whatever they acquire, this would send a clear message to the market. I'd be looking to announce a buy back at the same time they announce the next dividend and let the buyback self-fund itself. I'm patient, so I'm thinking in the next 12-18 months. Thoughts?
This reminds me so much of FMG just a few short years ago......
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Last
44.5¢ |
Change
0.010(2.30%) |
Mkt cap ! $540.6M | |||
| Open | High | Low | Value | Volume |
| 43.5¢ | 45.5¢ | 43.5¢ | $670.4K | 1.500M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 79452 | 44.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 45.5¢ | 293614 | 10 |
View Market Depth
| Last trade - 16.10pm 17/05/2024 (20 minute delay) ? |
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Last
45.0¢ |
Change
0.010 ( 3.62 %) |
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| Open | High | Low | Volume | ||
| 43.5¢ | 45.3¢ | 43.5¢ | 200847 | ||
| Last updated 15.59pm 17/05/2024 ? | |||||
| MGX (ASX) Chart |