This reminds me so much of FMG just a few short years ago... (around 2018????)
FMG was printing money, about $1b per month and the price was around $4. (The now ex-wife made me sell at $4.50....)
It was well undervalued, and Twiggy decided on a $500m buy back. It's what started the rocket, now look at them.
Unless they need the capital expenditure elsewhere for whatever they acquire, this would send a clear message to the market. I'd be looking to announce a buy back at the same time they announce the next dividend and let the buyback self-fund itself. I'm patient, so I'm thinking in the next 12-18 months. Thoughts?
Buy Back
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Last
45.5¢ |
Change
0.015(3.41%) |
Mkt cap ! $552.7M | |||
| Open | High | Low | Value | Volume |
| 44.0¢ | 45.5¢ | 43.8¢ | $554.8K | 1.242M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 33551 | 44.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 45.5¢ | 318426 | 5 |
View Market Depth
| Last trade - 16.10pm 24/05/2024 (20 minute delay) ? |
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Last
45.3¢ |
Change
0.015 ( 2.14 %) |
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| Open | High | Low | Volume | ||
| 44.0¢ | 45.3¢ | 44.0¢ | 106691 | ||
| Last updated 15.59pm 24/05/2024 ? | |||||
| MGX (ASX) Chart |