Tony the same article also has the quote below...
"They can trade below valuation for some time," he said. "Overtime the stocks will be proven to be cheap at current levels but at the moment if you're buying these stocks you're buying cum-downgrade for financial year 2013 and 2014."
"On the supply side once it slides below $US120 you start to see a lot of the marginal producers dropping out."
Read more: http://www.theage.com.au/business/mining-and-resources/more-pain-ahead-for-iron-ore-miners-20120830-252ft.html#ixzz25067xURd
io price to share price ratio, page-55
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Last
$123.31 |
Change
1.650(1.36%) |
Mkt cap ! $45.77B | |||
| Open | High | Low | Value | Volume |
| $123.90 | $124.47 | $122.50 | $208.3M | 1.686M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1271 | $123.31 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $123.35 | 786 | 1 |
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| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| RIO (ASX) Chart |