Wakeup,
MRE is a sub par nickel produer with a high cost of production and a poor production record. Nickel prices went from ~$10,000 a tonne to over ~$50,000 a tonne and MRE got taken along for the ride.
Now the nickel price has fallen off a cliff, MRE's profitability is shot.
A very basic example;
If it costs you $5 to produce a good and you can sell it for $10, you're making $5 profit per good.
If it costs you $5 and all of a sudden you can only sell that good for $5, your profitability is $0 and your company isnt going to be worth what it was. ie. MRE was $7 a share, now it is only worth $1.12.
Just because it was $7, doesnt mean it will be again in the future. Its profitability would have to increase. The price of nickel would have to rise considerably or MRE would have to increase its production and / or lower its cost of production.
Therefore you would only own this stock if you believed at least one of the above was going to happen.
Wakeup,MRE is a sub par nickel produer with a high cost of...
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Last
$1.98 |
Change
-0.015(0.75%) |
Mkt cap ! $299.0M | |||
| Open | High | Low | Value | Volume |
| $1.98 | $1.99 | $1.98 | $597.8K | 301.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 38630 | $1.98 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.98 | 33404 | 3 |
View Market Depth
| Last trade - 16.10pm 01/11/2024 (20 minute delay) ? |
| MRE (ASX) Chart |