That's not a question anyone can answer with certainty. As it stands the cash backing is over 30c but the stock is trading at 21.
My guess is that it will fluctuate in the mid 20's until sentiment changes, a change in the iron ore price, the market has an insurance update or any other announcement such as an acquisition etc.
There is more probability of an upward movement in the short term, than a further deterioration in share price as it is already trading 10c or so below cash but don't take my advice, this is my own opinion.
Hope that's been of some help.
Quarterly, page-36
-
- There are more pages in this discussion • 4 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add MGX (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
41.0¢ |
Change
-0.005(1.20%) |
Mkt cap ! $498.1M | |||
| Open | High | Low | Value | Volume |
| 41.0¢ | 41.5¢ | 40.8¢ | $360.4K | 877.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 168024 | 41.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 41.5¢ | 80475 | 5 |
View Market Depth
| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| MGX (ASX) Chart |