You can't be in FMG and not expect days like this, part and parcel of owning a single commodity resource stock.
Today is just an unfortunate confluence of:
- IO futures down -8%, therefore FMG's decline is completely rationale and has nothing to do with broker manipulation, the grinch, or whatever else.
- Broker downgrades after FMG reported higher production costs yesterday.
FMG's current share price is only justified if IO settles at $100/t (will give a PE of 16x), that's getting pricey.
What is surprising is RIO and BHP's performance.
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Last
$17.32 |
Change
-0.840(4.63%) |
Mkt cap ! $53.32B |
Open | High | Low | Value | Volume |
$18.22 | $18.27 | $17.26 | $202.6M | 11.43M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 4600 | $17.31 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$17.33 | 396 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 1710 | 19.000 |
3 | 13084 | 18.720 |
1 | 255 | 18.700 |
7 | 103323 | 18.680 |
2 | 163 | 18.500 |
Price($) | Vol. | No. |
---|---|---|
16.450 | 607 | 1 |
16.460 | 15769 | 5 |
17.000 | 1414 | 1 |
17.200 | 1643 | 1 |
17.250 | 1086 | 1 |
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