big profit taking, plain and simple.
its risen dramatically in just weeks (up 20%), buy the rumour sell the fact.
i like the 30-40% divi payout ratio.
assume IO price suffers a bit of weakness, in FY 15 FMG make $3.4 billion Profit ($20-25 margin). 30% is a bit over $1 billion, and assuming no dilution (tongue in cheek) that is about $0.35 divi, and being relatively conservative.
the realist in me says $4b profit, 40% pay out, $0.55 dividend.
the optimist says margins will be $35, profit $5.5 bill and $0.70 dividend.
show me a resource stock with that potential coupled with relative market security.
anyone want to guess when twiggy becomes Australia's richest man?
record results, page-11
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Last
$22.39 |
Change
-0.230(1.02%) |
Mkt cap ! $69.06B | |||
| Open | High | Low | Value | Volume |
| $22.36 | $22.61 | $22.31 | $43.51M | 1.934M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 1102 | $22.38 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $22.39 | 670 | 12 |
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| Last trade - 14.00pm 05/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |