I was very critical of their Q report as was some of longs here, that "76%" really killed the SP, 2 x 7% drop in 2 days is very concerning but "deserved" the punishment.
That's what share markets do, and that's why people need to set stop loss and take profits, but it's not the time to give trading lessons, some posters would be in a large "loss" position and most of us been there before, well, at least I know I have in my early trading days.
FMG as a company still is a very good investment at the "right" price. That "76%" will not last very long when IO is US$50-$55. FMG's all in cost is very close to US$30 at those price range.
I would expect IO supply to tighten up more and more when IO price drops further.
DYOR.
Frank.
Iron ore price, page-738
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Last
$17.73 |
Change
-0.210(1.17%) |
Mkt cap ! $54.59B | |||
| Open | High | Low | Value | Volume |
| $17.86 | $18.00 | $17.67 | $106.1M | 5.956M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3136 | $17.73 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $17.76 | 10562 | 2 |
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| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| FMG (ASX) Chart |