Nice work, yes it will bounce tomorrow, $5.395 is too conservative, I say $5.50+.
This is just "bargain" price really. So far this Quarter Platts 62% is US$73 average, so even FMG get a low 70% realised price, the realised price will still be US$50+. So whatever happens to IOP next 10 days, FMG already have US$1B+ positive cash flow for this Quarter.
There are hardly any expanses this Q except interest on debt, so Money at the Bank will most likely balloon to nearly US$3B at the end of this month.
In other words, there are already "16c" Dividend if payout ratio is 80% on profit. Crazy but TRUE.
There are also "hints" of Future bounce back up, with market prices firmer and volume also picking up.
DYOR.
Frank.
FMG Technical Analysis, page-166
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Last
$19.55 |
Change
0.050(0.26%) |
Mkt cap ! $60.19B | |||
| Open | High | Low | Value | Volume |
| $19.98 | $20.30 | $19.51 | $184.3M | 9.305M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 2568 | $19.51 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $19.56 | 44282 | 3 |
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| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| FMG (ASX) Chart |