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 Price at posting:
$5.66 Sentiment: Hold Disclosure: Held
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