The stock is still significantly under valued at $6.
In my opinion it's currently worth at least $9 and I think Black Rock think the same as they wouldn't have bought 5% of the company otherwise.
Iron Ore is holding up well and could move higher but if we see it tick over $140 it will add further momentum to the stock price.
I'm looking for it to trade towards $7 prior to Xmas and above that as the 2nd quarter announcement is made in January.
The stock is currently in the process of being rerated by the market and it wouldn't surprise me to now see other funds buying in after the recent announcements.
experts, page-6
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Last
$19.54 |
Change
-0.370(1.86%) |
Mkt cap ! $60.16B | |||
| Open | High | Low | Value | Volume |
| $19.52 | $19.75 | $19.29 | $225.1M | 11.80M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2000 | $19.52 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $19.54 | 6420 | 1 |
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| Last trade - 16.10pm 18/10/2024 (20 minute delay) ? |
| FMG (ASX) Chart |