Too funny. You had a hissy fit only a few weeks back when I said FMG had dropped the ball on the revenue line and they should change the product mix as the lowest cost focus wasn’t working.
In the meantime I have closed out my position. I think FMG will be range bound for some time, hard to see much more downside unless iron ore craters, but no positive catalysts either. The grade change is an admission that the focus has been wrong and the discounting may indeed be structural. Right reaction to focus on revenue line but cost line clearly worsens.
Iron ore price, page-4547
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Last
$21.41 |
Change
-0.260(1.20%) |
Mkt cap ! $65.92B | |||
| Open | High | Low | Value | Volume |
| $21.52 | $21.67 | $21.30 | $150.5M | 7.000M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 93 | $21.40 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.41 | 12657 | 3 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| FMG (ASX) Chart |