a little premature to be talking $10 L&S but i like your optimism.
its not rocket science this stuff. scooted up on yesterday's announcement.....but what did the market boffins think FMG were doing with their cash. they said they were at annualised 120mt (i think that was the amount), and the IO price received is effectively public domain.
basic maths. 30mt @ $40 margin is $1.2b profit.
moving forward, where do we think the IO Price will go? my bet is not too far south (at least for a sustained period). destocking will cause weakness and restocking will cause strength. $120 seems to be the number, and if that is the case FMG will cream it.
one happy shareholder here.
cheers
analyst rerating of fmg commences!, page-10
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Last
$18.51 |
Change
-0.050(0.27%) |
Mkt cap ! $57.05B | |||
| Open | High | Low | Value | Volume |
| $18.70 | $18.72 | $18.41 | $32.37M | 1.736M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 1177 | $18.51 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.52 | 3871 | 12 |
View Market Depth
| Last trade - 11.00am 30/08/2024 (20 minute delay) ? |
| FMG (ASX) Chart |