Thanks for all this great analysis Accaeric! I've enjoyed reading your posts and you did seem to pick the bottom so well done.
I am surprised that everyone is surprised at FMG's bounce. They are so leveraged to any Iron Ore price movement it is totally rational!
Plus - if Accaeric is correct with her earnings analysis they are probably trading on a Price to Earnings ratio (P/E) of <4! Even at current price of $2.57 ($40ish/tonne cost, current price $57 so profit per tonne is $17? multipled by 160 million tonnes production).
Not to mention they are trading at less than book value.
I'll be buying ASAP
Snapshot, page-63
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Last
$19.22 |
Change
-0.270(1.39%) |
Mkt cap ! $59.17B | |||
| Open | High | Low | Value | Volume |
| $19.52 | $19.55 | $19.22 | $85.01M | 4.398M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 27260 | $19.22 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $19.33 | 100 | 1 |
View Market Depth
| Last trade - 16.10pm 04/11/2024 (20 minute delay) ? |
| FMG (ASX) Chart |