I'm expecting FMG will go down to $5 from here
FMG's iorn ore sales are going down to sub $40
President Xi is cracking down on property develope and chinese state owned steel makers
Chinas default risk is going up making it riskier it to lend
Aus exports of iorn ore are going up to China amid the price slump new to massive over supply from the Pilbara and Brazil
The Aus dollar hasnt gone down like usually does but if it does it would make it more expensive for FMG to repay its debts
FMG have paid special dividends worth billions and ventured into other hydrogen but they are not yet a diversified company
FMGs share price will collapse to $5 as they will be forced to take on even more debt to keep paying dividends or they will go down if they stopped paying or cutting dividends.
FMG may have to cut output if the price of iorn falls below to $60, a double wammy !!!
FMG debt is currently US$4.3 billion (A$5.88 billion) in gross debt while equity is falling !
I'm expecting FMG will go down to $5 from hereFMG's iorn ore...
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Last
$25.57 |
Change
0.250(0.99%) |
Mkt cap ! $78.72B | |||
| Open | High | Low | Value | Volume |
| $25.38 | $25.62 | $25.24 | $87.38M | 3.432M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 108 | $25.54 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $25.57 | 17507 | 1 |
View Market Depth
| Last trade - 16.10pm 02/05/2024 (20 minute delay) ? |
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Last
$25.56 |
Change
0.250 ( 0.68 %) |
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| Open | High | Low | Volume | ||
| $25.41 | $25.62 | $25.24 | 1155324 | ||
| Last updated 15.59pm 02/05/2024 ? | |||||
| FMG (ASX) Chart |