I warned people about 5 months ago that FMG was high risk as it share was falling form around $8. The main reason is in my opinion Twiggy paid huge premium to develop the iron and ore mine as the price of labour and equipment sky rocketed. Andrew Forrest was predicting that China appetite for iron will be strong for the next 10 year and beyond and rasied capital in the US by issuing bonds.
Now that most economy are entering recession and the US is not buying as much import from China it going to take while before thing pick up.
Where FMG go from here is anyone guess, FMG definitly missed the boom in term of selling Iron Ore but alot of people made money on the potential of FMG.
Just my opinion do your own research.
debt per share and cash on hand, page-19
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Last
$18.12 |
Change
-1.430(7.31%) |
Mkt cap ! $55.79B | |||
| Open | High | Low | Value | Volume |
| $18.76 | $18.85 | $18.12 | $253.5M | 13.75M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 14492 | $18.12 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.15 | 25635 | 2 |
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| Last trade - 16.10pm 11/11/2024 (20 minute delay) ? |
| FMG (ASX) Chart |