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
$21.62 |
Change
-0.420(1.91%) |
Mkt cap ! $66.56B | |||
| Open | High | Low | Value | Volume |
| $21.61 | $21.78 | $21.48 | $190.2M | 8.611M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 15504 | $21.61 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.62 | 6560 | 1 |
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| Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |