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Ann: Management and Organisational Update, page-146

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Aquarius11

638 Posts.

141

10/08/24

14:48

Post #: 75152826
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Originally posted by Aquarius11: ↑

At what price to buy?
I was too, only by the fact that FMG was under selling pressure for a number of reasons. Goldman Sacs lowered there target price to $15.50, (it may well get worried down to there, but I don't trust that organisation. I feel sure they will be buying above their recommendation price. BUT at the end of the day, for a yield of 12.7% FF I don't mind any possible short term over payment, as I feel the SP will rise again. Call it FOMO, but this is a long game for me. More of a concern is the down turn in Chinese economy for the short term, but FMG have free cashflow and are paying (still) a high FF dividend. The buyer / seller spread appears balanced. Greater than USD$100 per ton verses less than ~$20 cost. Prices can continue to fall, FMG are producing record output so the buying price to average down doesn't concern me too much. The way I look at it is teh SP will appreciate again, I won't be selling my holding while it is paying large FF dividends. I do recognise not everyone will have the same outlook.
Not investment advice just my perspective. Good luck

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FMG Price at posting: $18.49 Sentiment: Buy Disclosure: Held
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(20min delay)
Last $20.47		Change 0.000(0.00%)		Mkt cap ! $63.02B

Open	High	Low	Value	Volume
$20.20	$20.54	$20.16	$181.8M	8.912M

Buyers (Bids)

No.	Vol.	Price($)
1	700	$20.45

Sellers (Offers)

Price($)	Vol.	No.
$20.47	2284	2

View Market Depth

No.	Vol.	Price($)
1	700	20.450
2	458	20.400
1	3033	20.390
1	30	20.380
1	145	20.370

Price($)	Vol.	No.
20.470	2284	2
20.480	3279	7
20.490	76843	6
20.500	105030	21
20.510	200	1

Last trade - 16.10pm 16/10/2024 (20 minute delay)

FMG (ASX) Chart

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