If they pay $1+ in dividends then $20 is the floor going forwards with interest rates near zero. Dividends and high capital growth are likely given it's already at half the PE of BHP and RIO, so the mistake the Bears are making is to assume that any future drop isn't already totally priced in. That's why the yield is crazy 12-18%+ If the pe equalises then FMG will double in price.
If the Bears didn't predict iron ore at $190-$200 then how can you base your whole negative investment thesis on immediate mean reversion to some imaginary low iron ore price that hasn't existed for years and FMG being half the PE of other iron ore miners forever?
If prices stay high longer than expected people might have 50% of their investment back after a very short hold period of two years...
See you at $30+ this year... Salty FMG short shorts posts incoming![]()
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Last
$17.34 |
Change
0.520(3.09%) |
Mkt cap ! $53.38B |
Open | High | Low | Value | Volume |
$17.31 | $17.51 | $17.00 | $309.6M | 17.18M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 300 | $17.33 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$17.35 | 28897 | 5 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 300 | 17.330 |
3 | 1302 | 17.310 |
4 | 4250 | 17.300 |
2 | 2522 | 17.290 |
2 | 1080 | 17.280 |
Price($) | Vol. | No. |
---|---|---|
17.350 | 27484 | 2 |
17.380 | 1000 | 1 |
17.450 | 500 | 1 |
17.480 | 1000 | 1 |
17.500 | 3081 | 3 |
Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
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