The market will then look to the future and starting speculating about 100mtpa production. Let's do some really basic analysis here of what is a really basic business. Let's assume in fy10 that FMG produces 100mt at an average margin of $50t (conservative). That's EBIT of $5,000,000,000. FMG's pays some corporate tax (30% conservative) and that leaves NPAT around $3,500,000,000. FMG has 2,802,393,400 shares on issue, of which an amazing 70% are owned by just 5 parties and the top 20 shareholders own 92% (great idea to short that register structure). EPS works out $1.24 a share on that scenario and I think the market will pay an absolute minimum of 10x for that earnings stream. That generates a price target of $12.40 per FMG share.
(great idea to short that register structure).(great idea to short that register structure).(great idea to short that register structure).
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Last
$16.20 |
Change
0.080(0.50%) |
Mkt cap ! $49.87B |
Open | High | Low | Value | Volume |
$15.98 | $16.34 | $15.91 | $139.5M | 8.619M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 70232 | $16.19 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$16.20 | 830 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 70232 | 16.190 |
5 | 4974 | 16.180 |
1 | 2800 | 16.170 |
3 | 110264 | 16.160 |
2 | 131 | 16.150 |
Price($) | Vol. | No. |
---|---|---|
16.200 | 830 | 1 |
16.210 | 310 | 1 |
16.220 | 1000 | 1 |
16.230 | 1000 | 1 |
16.240 | 1054 | 2 |
Last trade - 16.10pm 09/09/2024 (20 minute delay) ? |
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