Why is this share price sub $5 (really should read sub $7)when over the next few years iron ore is considered to stay within the range of $120-140/tonne.
Do the maths on the low end of that range....155mtpa with a profit margin circa $50/tonne. That's a big number, and in comparison to previous years profit i'm just blown away. This stock is great evidence of how shorters can manipulate. I know there's a lot of trepidation in the market, but this is ridiculous.
IMO this is seriously undervalued for anyone with a mid-long term view....you can't be generating profits reflecting more than $1.50 a share and stay at anything near these levels. Resource boom over? Pffft. China is still growing at 7% annually. At that rate it will double in 10 years from its CURRENT BASE. Yet again "every last drop" shipped has been swallowed up.
what am i missing!!!!
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Last
$19.55 |
Change
0.050(0.26%) |
Mkt cap ! $60.19B | |||
| Open | High | Low | Value | Volume |
| $19.98 | $20.30 | $19.51 | $184.3M | 9.305M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 2568 | $19.51 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $19.56 | 44282 | 3 |
View Market Depth
| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| FMG (ASX) Chart |