No one expected iron ore to remain over $200/t, FMG has billions of cash on it's balance sheet and did reinvest some of the profits.
Its not FMG right to hoard cash for the sake of it and add to the the billions it has on its balance sheet.
Every company should use some debt and debt is cheaper than equity. Currently FMG has no net debt and that's inefficent.
Iron ore price, page-38874
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Last
$20.10 |
Change
0.700(3.61%) |
Mkt cap ! $61.88B | |||
| Open | High | Low | Value | Volume |
| $20.26 | $20.49 | $19.94 | $337.2M | 16.71M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 38056 | $20.09 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $20.15 | 20000 | 1 |
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| Last trade - 16.10pm 27/09/2024 (20 minute delay) ? |
| FMG (ASX) Chart |