and there is the irrational selling.
thank you dry powder.
what is different today than yesterday? oh that's right, FMG made another $16m. ($40/tonne margin, 155mtpa is say 400,000 per day)
short term who knows, there's easier stocks to pick than this one if you talk in hours and days. but longer term.....
what is happening? the company didn't make a stupid acquisition and overpaid. they have high debt, but revenue isn't too bad either (nearing $20billion).
i think people are jumping at shadows. IO is still over $130 per tonne. its dropped 5% in the last week, sure, but even FMG have done their numbers on the magical $120. the resilience in spot price over the past 6 months is just cream on that.
i will put a position but i think my intention is clear....BUY BUY BUY
export up, page-16
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Last
$18.56 |
Change
0.120(0.65%) |
Mkt cap ! $57.14B | |||
| Open | High | Low | Value | Volume |
| $18.34 | $18.68 | $18.30 | $218.7M | 11.78M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 57703 | $18.55 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.60 | 4301 | 2 |
View Market Depth
| Last trade - 16.10pm 29/08/2024 (20 minute delay) ? |
| FMG (ASX) Chart |