For comparison, look at something like Champion Iron (CIA) which is virtually identical in the fact that it's a one-note iron ore company, similar P/E ratio to FMG, similarly profitable relative to its size, and subject to exactly all the same world and macro-economic "fear factors" that FMG faces.
CIA 3-month performance: 30% up
FMG 3-month performance: 6.7% down
CIA YTD performance: 44% up
FMG YTD performance: 4.5% down
So no, it is not "rational" at all really.
Iron ore price, page-31991
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Last
$16.15 |
Change
0.030(0.19%) |
Mkt cap ! $49.84B | |||
| Open | High | Low | Value | Volume |
| $15.98 | $16.29 | $15.91 | $46.97M | 2.912M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 2984 | $16.14 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $16.15 | 5588 | 12 |
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| Last trade - 11.30am 09/09/2024 (20 minute delay) ? |
| FMG (ASX) Chart |