IO has rebounded 10/T over the week to be US$120/T as of yesterday's close & we see the AUD trading in the 92's at the moment, resulting in IO being closer to AUD$130/T
I, along with many others, have been calling out for a long time that the mkt is mispricing these beaten down IO stocks & IMO when the rebound comes, it will be very savage.
It's important to remember that underlying earnings are still very strong at current pricing levels, this will mean that the dividends will be able to be maintained.
AUD looks like its on the verge of collapse on the back of USD strength, so that's only a further positive.
The catalyst for the re-rate looks uncertain, but I'm hoping we don't have to wait until earnings are reported for the re-rate to begin.
io @ 120/t & aud @ 92.x
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Last
43.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $523.8M | |||
| Open | High | Low | Value | Volume |
| 43.0¢ | 43.5¢ | 43.0¢ | $89.22K | 207.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1278 | 43.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 43.5¢ | 58576 | 4 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| MGX (ASX) Chart |