FYI HC members dow jones comment:
[Dow Jones] Fortescue (FMG.AU) increasingly on track for expansion, according to senior institutional trader. Says FMG's planned A$450M converting preference shares and A$275M in prepayment commitments from five Chinese steel mills will allow FMG to lock in contractors and order long-lead-time items to enable longer-term growth to 100 mtpa-150 mtpa from current 55 mtpa. FMG has received A$140M subscription application for preference shares. "I think we can see FMG rally as it shows they are not going to sit here at 55 mtpa," says trader. "A lot of the low FMG valuations assume they never get their long-term stated production growth targets of 100 mtpa and more." Adds, hedge funds had been shorting FMG because they thought A$1B converting preference offer was looming and that it would be to institutions, rather than large FMG shareholders like Harbinger. FMG up 2.8% at A$7.61, hits A$7.62. Resistance A$7.86. Support A$7.06. (DWR)
- Forums
- ASX - By Stock
- funding
FYI HC members dow jones comment:[Dow Jones] Fortescue (FMG.AU)...
-
- There are more pages in this discussion • 17 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add FMG (ASX) to my watchlist
|
|||||
Last
$18.65 |
Change
0.340(1.86%) |
Mkt cap ! $57.63B |
Open | High | Low | Value | Volume |
$18.48 | $18.77 | $18.35 | $75.74M | 4.092M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
5 | 2264 | $18.65 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$18.66 | 3464 | 11 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
14 | 8865 | 18.690 |
14 | 6779 | 18.680 |
9 | 5025 | 18.670 |
9 | 7959 | 18.660 |
8 | 7639 | 18.650 |
Price($) | Vol. | No. |
---|---|---|
18.700 | 3195 | 15 |
18.710 | 8424 | 17 |
18.720 | 8388 | 23 |
18.730 | 5633 | 8 |
18.740 | 9032 | 7 |
Last trade - 14.02pm 27/08/2024 (20 minute delay) ? |
Featured News
FMG (ASX) Chart |
The Watchlist
SBW
SHEKEL BRAINWEIGH LTD
Dani Nadri, Country Manager Australia
Dani Nadri
Country Manager Australia
SPONSORED BY The Market Online