Just to correct.
I did a summary analysis back in 2015. At that time, FMG was running at a loss as their break even point is around USD$39/dmt for iron ore price, and their net debt was $7.2b, at that time, it was not no brainer, still very risky (high risk with high return), institutions were all doomed about iron ore outlook, put price target 60c - $1.60 for FMG.
Nothing is identical, but there're always some similarities depending on each interpretation, imo.
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