The alternative argument is that when IO goes down (and it eventually will. I'm not saying $60/t but even if it settles at a historically high level of $120-150/t that is still a significant drop in FMG profit) the other resources that RIO and BHP hold will add comparatively more to the bottom line.
I don't agree with it, and the discount applied to FMG because of it, but it is always good to acknowledge the alternative and understand how or why it impacts the share price.
Iron ore price, page-28585
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Last
$18.18 |
Change
-0.090(0.49%) |
Mkt cap ! $55.97B | |||
| Open | High | Low | Value | Volume |
| $18.26 | $18.41 | $18.18 | $200.9M | 11.00M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 6678 | $18.17 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.19 | 70000 | 3 |
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| Last trade - 16.10pm 02/09/2024 (20 minute delay) ? |
| FMG (ASX) Chart |