The part absolutely everyone missed was the explosion in the product quality differentials. Makes valuing a stock in a cyclical sector so much harder
FMG won't face existential threat again, but it is either worth a lot more than the price today as a cash printing machine, or a lot less if the discounts prove structural and supply side discipline falters.
The current price is a bet each way so debatedly the market has it right for now. In a year's time I expect the share price to be very different, but I'm optimistic that this is to the upside
#1 Acquirer's Multiple in the ASX200, page-3
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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 |
View Market Depth
| Last trade - 16.10pm 27/09/2024 (20 minute delay) ? |
| FMG (ASX) Chart |