out of curiosity crazy p have you considered that in the not too distant future the inevitability that the AUD will weaken against the USD to a point where it will more than likely see it trading at levels around the 80 cents mark giving not only i/o stocks but the whole currency reliant sector a significant boost in economics.
Not to mention that in that time more debt will be repaid and costs of production will continue to decrease as optimal performance is worked towards.
I understand your points regarding the price of iron ore and the reason for it is simple supply and demand, the demand has not changed but the supply certainly has and for me it seems that the macroeconomic scope when analysing fundamentals of a company goes far beyond just the market price of a resource.
The bottom line, page-3
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Last
$19.98 |
Change
-0.160(0.79%) |
Mkt cap ! $61.51B | |||
| Open | High | Low | Value | Volume |
| $20.33 | $20.39 | $19.95 | $158.1M | 7.862M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 5999 | $19.98 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $20.02 | 555 | 1 |
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| Last trade - 16.10pm 03/10/2024 (20 minute delay) ? |
| FMG (ASX) Chart |