A downgrade to sell by Citi is what I believe was the catalyst for yesterday's sell-off, but I suspect the issue with analyst models is a terminal IO price assumption that is just too low.... and on that note, IO is within spitting distance of a fresh high for this little uptrend after a good night of gains... it's surprising to see IO stocks so weak in light of that TBH, especially considering the AUD was down as well:
Iron ore price, page-50110
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Last
$20.35 |
Change
0.000(0.00%) |
Mkt cap ! $62.65B | |||
| Open | High | Low | Value | Volume |
| $20.47 | $20.68 | $20.28 | $96.30M | 4.714M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 50 | $20.34 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $20.35 | 20500 | 1 |
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| Last trade - 16.10pm 29/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |