The market will then look to the future and starting speculating about 100mtpa production. Let's do some really basic analysis here of what is a really basic business. Let's assume in fy10 that FMG produces 100mt at an average margin of $50t (conservative). That's EBIT of $5,000,000,000. FMG's pays some corporate tax (30% conservative) and that leaves NPAT around $3,500,000,000. FMG has 2,802,393,400 shares on issue, of which an amazing 70% are owned by just 5 parties and the top 20 shareholders own 92% (great idea to short that register structure). EPS works out $1.24 a share on that scenario and I think the market will pay an absolute minimum of 10x for that earnings stream. That generates a price target of $12.40 per FMG share.
(great idea to short that register structure).(great idea to short that register structure).(great idea to short that register structure).
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Last
$17.26 |
Change
0.250(1.47%) |
Mkt cap ! $53.14B |
Open | High | Low | Value | Volume |
$17.22 | $17.37 | $17.10 | $105.8M | 6.139M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 3000 | $17.23 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$17.27 | 19878 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 3000 | 17.230 |
3 | 880 | 17.220 |
1 | 100 | 17.210 |
7 | 1222 | 17.200 |
5 | 2519 | 17.190 |
Price($) | Vol. | No. |
---|---|---|
17.270 | 19878 | 3 |
17.280 | 10286 | 3 |
17.290 | 7000 | 3 |
17.300 | 79885 | 21 |
17.310 | 6557 | 3 |
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