i know very little about FMGs production as i'm just in this for a short term iron trade, but i do know mining and you can't just value a mining company based on the commodity price ALONE.
Don't get me wrong, it certainly matters, but you can't just use one metric. I'm sure (like many miners) FMG increased sales and reduced production costs between 2019 and 2021, generating more revenue and therefore receiving an increasing SP. Maybe they opened new mines and added additional refining facilities - again, i don't know the answer, maybe a more experience LTH may know.
It's not just to do with IOP alone.
Iron ore price, page-42505
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Last
$17.34 |
Change
0.520(3.09%) |
Mkt cap ! $53.38B | |||
| Open | High | Low | Value | Volume |
| $17.31 | $17.51 | $17.00 | $309.6M | 17.18M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 300 | $17.33 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $17.35 | 28897 | 5 |
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| Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
| FMG (ASX) Chart |