I don't think anything fundemental has changed. Also, stock is up 56% in 1 yr period. It's also EFY sell time. Market doesn't have to go the way people think it should, in this case up. The simple fact is FMG is making a lot of money and the divident is ridiculous, with no sign of shrinking significantly.
The world needs steel. Governments intend to physically build their way back from economic impacts of COVID. Owning stock in one of the major producers, in a politically stable state, with the largest reserves, largely unimpacted by COVID, which commits to send a large part of profits to shareholders, is investing in the green future, and still has more projects to bring to production.....
Probably the only investment that makes more sense is investing in the guy selling FMG shovels.
DYOR. IMO.
FMG Technical Analysis, page-6661
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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
| Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
| FMG (ASX) Chart |