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3.13%

31.0¢ mount gibson iron limited

MGX share price, page-13

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PezzaD

116 Posts.

28/08/14

11:38

Post #: 13886647
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Originally posted by Menza ↑

I guess the hard part to understand is why the big boys are truly flooding the market?

I mean, surely its better for them to receive a higher price - they are also at the mercy of margins?

Maybe they have cut costs so dramatically that now is the time to simply dominate the juniors by squeezing them out? Is FMG involved in trying to bring down Atlas Iron's share price for a takeover?

It's all a little confusing. I like MGX due to the fundamental anomaly of the cash price of the share being at 50c. I think that then values the business at 21c at the current share price. And with the 6% yield, I think this anomaly will eventually be corrected, and the share price should move to 90c+ off the back of a rebound in Iron Ore price.

Either way it's a waiting game. Ex Div end of September, and I can imagine there will be at least a slight rally before the dividend payment.

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I have noticed that MGX has one analysis moved from HOLD to Mod Buy in commsec. They must think the same

MGX Price at posting: 71.7¢ Sentiment: Hold Disclosure: Held
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0 Great analysis

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(20min delay)
Last 31.0¢		Change -0.010(3.13%)		Mkt cap ! $376.7M

Open	High	Low	Value	Volume
32.5¢	32.5¢	31.0¢	$167.1K	531.1K

Buyers (Bids)

No.	Vol.	Price($)
12	371626	31.0¢

Sellers (Offers)

Price($)	Vol.	No.
31.5¢	9665	2

View Market Depth

No.	Vol.	Price($)
12	371626	0.310
4	177300	0.305
8	354993	0.300
3	92300	0.295
3	111000	0.290

Price($)	Vol.	No.
0.315	9665	2
0.320	228730	7
0.325	116278	2
0.330	145000	4
0.335	178700	6

Last trade - 16.10pm 11/11/2024 (20 minute delay)

MGX (ASX) Chart

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