Iron ore price to be US$65.60 a tonne at end of 2014 / beginning of 2015. $AUD to be worth $0.818 USD. FMG to fall to around $2.44/share at this time.
The X factor for FMG and other iron ore producers next year will be the value of the AUD. I'm predicting a surprise interest rate cut (or two) here in OZ early-mid next year and the AUD to fall below $0.75 USD approaching mid 2015. Iron ore producers like FMG could see their share prices stage a major turnaround under such a scenario, particularly if the price of iron ore stays above USD$65/tonne.
I hold no shares in FMG nor any other iron ore producers nor do I have any short interest positions in this market.
Price of FMG on 1st Jan 2015, page-59
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Last
$17.73 |
Change
-0.210(1.17%) |
Mkt cap ! $54.59B | |||
| Open | High | Low | Value | Volume |
| $17.86 | $18.00 | $17.67 | $106.1M | 5.956M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3136 | $17.73 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $17.76 | 10562 | 2 |
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| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| FMG (ASX) Chart |