Yup. Seems to be a common theme for miners. Not just FMG. I can name a handful this reporting season that's had intraday actions not in line with the ANNs. A good example is NST last week. Massive sell-off on the back of a good quarterly. On the other side of the coin is S32. Good accretion on the back of a $1.3B USD impairment
We all know that miners with Cash and Cashflow to deal with the vicissitudes of the mining lifecycle are value accretive LT. Short term accretion is pretty much impossible to tell. Toss a coin I guess. If you get lucky mean reversion will come back to haunt you sooner than you think.
Ann: June 2023 Quarterly Production Report, page-20
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Last
$21.92 |
Change
0.350(1.62%) |
Mkt cap ! $67.49B | |||
| Open | High | Low | Value | Volume |
| $21.60 | $21.95 | $21.54 | $94.22M | 4.315M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1000 | $21.91 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.93 | 18370 | 7 |
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| Last trade - 16.10pm 03/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |