This is just being endlessly shorted because funds think iron ore is going to nothing. We have seen this so many times. Just imagine what will happen to the stock if the shorts have to cover. laugh a minute. In the mean time, it will trade at a 10% FF yield because the funds are punting on a drop in dividends or a crashing iron price. FMG's balance sheet is unbreakable on the numbers now imo. The stock should be about $8 - $10 when the debt gets smashed again next year. We just have to pick a lower down ramp price to top up again. I can see a 40-50c rally when it turns form this oversold position. Back to $5 with any luck. dyor
Iron ore price, page-3916
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Last
$18.56 |
Change
0.000(0.00%) |
Mkt cap ! $57.14B | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | $18.68 | $18.30 | $8.056M | 425.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 7773 | $21.50 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $16.70 | 70 | 1 |
View Market Depth
| Last trade - 09.45am 30/08/2024 (20 minute delay) ? |
| FMG (ASX) Chart |
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