The market is very rational overall albeit with blips in that. It is more rational than any of us as individuals. I switch off when people say the market is not rational or manipulated. What they actually mean is that having bought their shares at a cheap price they now want the share price to rise so they can make a profit.
CIA is a completely different company to fmg. CiA produces a premium product 66%Fe versus 58%Fe for fmg. CiA is growing FMG is not. CIA pays no dividend but fmg does. However both companies are at very low PEs because the market is pricing in the forecast long term average iron ore price which is lower than the current spot price.
Iron ore price, page-31993
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Last
$17.32 |
Change
-0.840(4.63%) |
Mkt cap ! $53.32B | |||
| Open | High | Low | Value | Volume |
| $18.22 | $18.27 | $17.26 | $202.6M | 11.43M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4600 | $17.31 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $17.33 | 396 | 1 |
View Market Depth
| Last trade - 16.10pm 14/08/2024 (20 minute delay) ? |
| FMG (ASX) Chart |