I would be surprised, but in any event, its showing its mettle now. The fundamentals support a much higher price;
From the FMG news library today;
"With Fortescue on track to boost production to 150 million tons of iron ore per annum, giving it potential revenue of A$15 billion or more per annum, it's market cap of A$17.6 billion looks very cheap, says Macdonald. (RBS Morgans adviser)
"It would be a pretty cheap buy, even at A$25 billion (A$8 per share)." He argues that if a buyer were to make a bid, it would probably want to try and tie up a major shareholder such as Hunan Valin, which has a 15% stake currently."
fmg takeover target?
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Last
$22.00 |
Change
0.410(1.90%) |
Mkt cap ! $67.73B | |||
| Open | High | Low | Value | Volume |
| $21.93 | $22.09 | $21.58 | $138.1M | 6.316M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 9247 | $21.99 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $22.00 | 3521 | 3 |
View Market Depth
| Last trade - 16.10pm 11/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |