That's a very interesting question, there is a lot on here about how FMG is supposedly undervalued. Using the same commodity price assumptions, consider this:
- FMG trades at approximately 2x its NAV (until last week anyway);
- BHP & RIO trade at approximately NAV.
So there is a big reason to say FMG isn't cheap, but very expensive.
So yes, a higher IO price assumption will boost the valuations for all 3, but the fact that FMG trades well above NAV but BHP & RIO at NAV may still result in different share price trends.
Iron ore price, page-32063
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Last
$17.97 |
Change
-0.360(1.96%) |
Mkt cap ! $55.32B | |||
| Open | High | Low | Value | Volume |
| $18.10 | $18.28 | $17.97 | $250.7M | 13.82M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 104054 | $17.96 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.07 | 4370 | 1 |
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| Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
| FMG (ASX) Chart |